Doha: Chairman of the Real Estate Regulatory Authority, Aqarat Khalid Ahmed Saleh Al Obaidli, has affirmed that the recent decision by the Minister of Justice and Minister of State for Cabinet Affairs regarding the regulation of the Preliminary Real Estate Register is set to enhance the investment appeal and competitive strength of the real estate sector. This decision also aims to protect beneficiaries' rights and regulate the real estate market.

According to Qatar News Agency, the decision outlines the executive measures necessary for regulating real estate development. It addresses previous challenges such as map-based subdivision, off-plan sales, and the establishment of escrow accounts. Al Obaidli emphasized the significance of developers reviewing and complying with the new regulations governing the licensing of off-plan sale projects. These regulations are introduced to enhance transparency and align with the Qatar National Vision 2030.

Al Obaidli noted that this decision is a continuation of the Authority's initiatives in cooperation with the Ministry of Justice and other relevant entities. These efforts aim to develop the legislative framework of the sector and strengthen partnerships with the private sector.

The decision to regulate the initial real estate register specifies the components of the preliminary real estate register, which includes a set of real estate sheets allocated to units divided on the map. It also comprises records containing applications, contracts, supporting documents, architectural designs, and engineering plans approved by competent authorities.

Furthermore, the decision mandates that the preliminary real estate register for each unit should include detailed area data, original property numbers, approved project data, unit numbers on the map, and descriptions. It also records the identity of owners, ownership shares, reasons for acquiring or losing ownership, daily register entries, dependent real rights, restrictions, and their cancellations.