IPA Qatar highlights lucrative real estate investment prospects at MIPIM 2023 in France
16 March 2023
15 March 2023, Doha – Qatar: Promoting Qatar’s thriving real estate sector to the global business community, the Investment Promotion Agency Qatar (IPA Qatar) organised the Qatar Pavilion at MIPIM 2023, in Cannes, France, offering visitors an exclusive look at the latest real estate projects and investment opportunities in Qatar. Hosted in collaboration with Qatari Diar, UDC, Msheireb Properties, Qetaifan Projects and Ariane Real Estate, the launch of the pavilion was attended by H.E Ali bin Jassim Al-Thani, Ambassador of the State of Qatar to France and Eng. Abdullah bin Hamad Al-Attiyah, CEO of Qatari Diar.
Complementing the national real estate promotion strategy, aimed at diversifying the economy and attracting foreign investment, IPA Qatar hosted a series of business engagements with industry leaders, developers and investors. Held throughout the four-day event, which brought together 23,000 delegates from over 90 countries, these networking meetings connected potential investors to Qatar’s leading real estate developers. It also introduced them to the country's rapidly developing sector and its business-friendly regulations and shed light on the innovative solutions and facilities offered by the country’s financial institutions, such as the Commercial Bank of Qatar (CBQ). Commercial Bank offers a range of mortgage loans that will appeal to investors as well as those who wish to live in the property they acquire, especially through the mortgage for non-residents which facilitates property ownership in Qatar. This loan offers very competitive rates, flexible repayment period, financing without the assignment of income and minimal underwriting requirements. The Bank also provides rental and facility management services through subsidiaries and most importantly guidance in the Qatari Residency process.
On the sidelines of MIPIM, IPA Qatar announced the signing of a Memorandum of Understanding (MoU) with Knight Frank, one of the world’s leading independent real estate consultancies. This new partnership aims to showcase the lucrative investment opportunities of Qatar’s real estate sector to Knight Frank's global network of clients and investors. This collaboration builds upon Knight Frank’s recent establishment of an office in Doha to provide integrated residential and commercial real estate transaction, consultancy and management services for local and foreign investors.
Sheikh Ali Alwaleed Al-Thani, CEO, IPA Qatar, said: "MIPIM 2023 offered an excellent platform to showcase Qatar's growing real estate market. With an expected 2.6% increase in housing expenditure between 2021 and 2030, in line with the rising standards of living and GDP per capita, more opportunities are emerging. We are confident that our participation at MIPIM 2023 will translate into tangible investment opportunities for Qatar."
Eng. Abdullah bin Hamad Al-Attiyah, CEO, Qatari Diar, said: “We are pleased to participate in MIPIM 2023, where we engaged with global real estate developers, promoting the investment opportunities, which are the core of Qatari Diar’s expansion plans and strategies. The event was an opportunity to showcase our leading and flagship projects, which reflect a paradigm shift in the real estate investment and infrastructure development in Qatar.”
Engineer Ali Mohamed Al Kuwari, CEO, Msheireb Properties said: “We are delighted to be part of MIPIM, a global event that facilitates the exchange of ideas necessary for transforming the real estate industry. Msheireb Properties is committed to promoting sustainability and creating better developments for communities, while sharing their expertise with its peers. Our company has played a significant role in transforming the built environment, aligning with the Qatar National Vision 2030.”
Ibrahim Jassim Al-Othman, President, CEO and Member of The Board, UDC, said: “We are proud to participate in MIPIM alongside leading Qatari companies to represent Qatar. It is an ideal platform to showcase the State’s growing real estate sector and support endeavours to attract foreign investors, providing them with competitive returns and residency benefits. International investors were impressed with our developments’ high-quality standard, integrated services and facilities and mostly the rewarding investment.”
Sheikh Nasser bin Abdulaziz Al-Thani, Head of Business Development, Qetaifan Projects, said: "This participation complements our vision to promote Qetaifan Island North as the first of its kind entertainment destination in Qatar. It is our commitment, and a national duty, to showcase Qatar’s added value across tourism, hospitality and entertainment sectors. We are confident that our different real estate offerings will be key attractions to international investors.”
Mohammed Al Ali, Vice Chairman of the Board of Directors and Managing Director, Ariane Real Estate, said: “Since its establishment in 2014, Ariane Real Estate has strengthened its presence in Qatar, while expanding its reach to international markets. Offering an array of residential and commercial units and educational institutions, Ariane is keen to create communities full of luxury and state-of-the-art facilities, and investment projects that bring high returns to investors.”
Hussein Al Abdullah, EGM, Chief Marketing Officer and Head of CB Premium Banking said: “We take pride in our participation at MIPIM 2023 alongside leading Qatari institutions, underlining our strategy to support Qatar’s vision to become the next market destination for international property investors. Commercial Bank, in its support to the State’s efforts to encourage non-residents to invest in the real estate sector, offers mortgage for non-residents, enabling them to own real estate properties and acquire their permanent residency.”
Established in 1990, MIPIM has become the annual meeting point for property developers, investors, city planners and industry leaders from the international real estate space. The 2023 edition saw the participation of 2,400 exhibitors and over 2,000 investment and financial companies.
Qatar’s real estate market: Building the future
Qatar’s real estate market is one of the fastest-growing sectors, offering unique investment opportunities. A recent report by IPA Qatar and EY titled ‘Qatar's Real Estate Market: Building the Future’ analysed long-term sectoral trends and tailwinds, including the positive effects of Qatar’s GDP outlook, and increasing economic diversification efforts.
Between 2015 and 2021, the real estate sector’s contribution to Qatar’s GDP grew by 20% with the number of issued building permits nearly doubling during the same period. Residential supply witnessed growth of 6.9% per annum between 2010 and 2020, outpacing population growth of 3.8% per year during the same period. Demand for premium-quality buildings continues to rise across the country, spurred by the enactment of real estate sector laws for foreign investors, Qatar’s growing role as a destination for mega-events, and an uptick in the working expat population.