Qatar issues the first real estate bond for a foreigner and...

The first real estate bond with residence without recruiter was issued to the first non-Qatari investor for a purpose Real estate ownership In the Pearl, with the opening of an office for non-Qatari ownership and usufruct of real estate in The Pearl District, today is Thursday.

The CEO and member of the Board of Directors of the United Development Company, Ibrahim Jassim Al-Othman, said: “We witnessed the first issuance of a residence card linked to ownership of a property on the Pearl Island, belonging to Basil Bahout, which proved the effectiveness and ease of the procedures followed by the Ministries of Justice and Interior.” It is expected that the coming period will witness an increasing turnout. On real estate trading in light of the new decision and the privileges it offers to residents and investors. ”

The office provides services Owning real estate And benefiting from it through a single window for investors, and it also provides the requirements for selling and buying real estate, residential units and offices in the areas covered by the permissibility of ownership, and the office enables the beneficiaries to obtain the title deed in less than an hour, and also provides, through an automated system created by the Ministries of Interior and Justice, the issuance of residency upon expiry Ownership or usufruct procedures, in the event that the property of the owner or the beneficiary is in the category whose value is not less than 730 thousand riyals, equivalent to 200 thousand dollars, so that the owner of the property from this category obtains residency for himself and his family without a recruiter for the duration of his ownership of the property.

In addition to residency for him and his family, the owner of the property or the beneficiary will also receive permanent residency benefits that include health, education and investment in some commercial activities, if the property value is not less than 3.650 million riyals, equivalent to one million dollars.
During the inauguration of the office, the Qatari Minister of Justice, Issa Al-Nuaimi, reviewed the office’s workflow and the procedures in place to provide services in accordance with the quality and efficiency standards set by the competent authorities as part of the preparatory procedures for the launch of the office.
In turn, the Chairman of the Board of Directors of the United Development Company, Turki Al-Khater, said, “In light of the opening of the offices of the Ministries of Justice and Interior in the Al Mahara building on the Pearl Island, we look forward to the United Development Company being at the forefront of real estate development companies that receive those wishing to invest and benefit from the advantages of the new ministerial decision. , As the United Development Company will continue to launch new and innovative projects in the Pearl and Gewan Islands to enrich its real estate portfolio with distinct and diversified products, which will contribute to the sustainable growth of the real estate sector.

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