Doha, Qatar: Qatar positions itself politically and economically stable and the infrastructure is in place to attract major foreign investments into the country, stated the Head of Qatar at Knight Frank Adam Stewart in an interview with The Peninsula.
During last month’s Cityscape real estate event, the official discussed long-term investment opportunities in Qatar along with other experts from various sectors and entities.
The expert enlightened the attendees on regulation and obtaining investor confidence as numerous government initiatives including the residency through real estate and the announcement of the Real Estate Regulatory Authority (RERA).
Knight Frank, one of the leading global real estate consultancies expanded its presence to the Qatari market last year, prior to the FIFA World Cup as the official notes that the market seems very positive with the surging foreign direct investments (FDI) and international projects.
Head of Qatar at Knight Frank, Adam Stewart
Stewart emphasised that Qatar is on a fast-paced trajectory of growth in attracting foreign investments like other GCC cities such as Dubai. He said: “Investment is more regulated, but certainly they do want to track FDI, and therefore started to reach out to the rest of the world.”
Earlier, Knight Frank signed a Memorandum of Understanding (MoU) with Invest Qatar to promote Qatar throughout the Knight Frank offices globally. The consultant firm also held a roadshow with United Development Company (UDC) and Commercial Bank in Mumbai, India to promote investment opportunities in Qatar.
“Surprisingly lots of people were very interested in investing in Qatar and the government has the framework and players. It’s now up to the developers to reach out and attract these people into Qatar,” the official remarked.
To a question on the next roadshow initiative after the success of India, Steward highlighted targeting China, which is one of the biggest markets in the world in addition to Singapore, Malaysia, and Korea.
During the first half of the year, Knight Frank released ‘Destination Qatar’ a survey of ultra-high networks in the country to study investment appetite and attitudes.
“It was quite interesting in terms of seeing domestic demand,” he said adding that the residential sector witnessed more than 50 percent investments in Qatar while 66 percent of the participants indicated their investment interest in the next two or three years.
“That domestic demand is still there and I think we’ll continue this destination count on our series next year. It takes quite a long time to compile information. So we’re starting next month and it will be released in March 2024,” Steward added.
Source : ThePeninsula