2. ABOUT THE PLACE
We as Makan have
seen the ups and
downs of the property
market in the recent
years, and with major
development taking
place. Makan puts its
14 years experiences to practice and assure its clients
the very best services and property investments
in Qatar.
Qatar is becoming one of the leading business,
sport and leisure destinations in the world. Qatar
economic past and future prospects have been
analysed and commented on extensively in recent
years. First it ‘caught the cold’ from he global
financial troubles affecting most of the economies
which were leading inward investment. Then sales
slowed almost to a standstill giving way to a period of
stability as valuations fell into line with comparable
markets. More recently the Arab Spring created a
boost to Qatar as more capital and investors who
saw Qatar as a safe and efficient place to operate in
a troubled region moved in.
Visitor numbers are reported to be doubling to
pre-recession levels which is certainly evident
from the full planes and busy hotels whenever I
visit. The many Qatar sporting and social events
which are becoming fixtures in the international
calendar have also been as well-attended as ever.
As a result there is a substantial renewed appetite
for property in Qatar, focussed mainly on the best
known residential communities that are now well-
established. Our own experience is backed up by
recent figures suggesting that property transactions
are on the rise again – up 20% in the last quarter
alone. In a region with so much construction going
on in the last five years there had been fears that
oversupply would make this a buyers’ market for
some time yet. But headline figures betray what is
actually happening in specific neighbourhoods and
developments, where Makan buyers and tenants
eager to take advantage of the temporary Price
correction are outnumbering sellers once more.
BASHIR JAMA
Managing partner
“ACCORDING TO THE STUDY PUBLISHED BY
THE WASHINGTON BASED INSTITUTE
OF INTERNATIONAL FINANCE,
QATAR’S PER CAPITA GDP AT
PURCHASING POWER PARITY (PPP) WAS
$106,000 (QR387,000) IN 2012, HELPING
THE COUNTRY RETAIN ITS RANKING AS THE
WORLD’S WEALTHIEST NATION.”
TABLE OF CONTENTS
04 ALL ABOUT MAKAN
06 OVERVIEW OF QATAR
10 THINGS TO DO IN QATAR
13 QATAR TRAVEL TIPS
16 BUYING YOUR PROPERTY IN QATAR
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Makan Investment and Real Estate Development W.L.L.
Makan is an Arabic word having the definition of “the action or process
of placing someone or something in a particular position”.
Makan Investment & Real Estate Development is an established
provider of top-class residential, corporate and luxury developments
in the Qatar. It continues to pursue excellence in two precepts with
which it has founded its philosophy: Personal & Exclusive excellences.
Based firmly on these, the company has earned a solid reputation in
being a market leader in the real estate industry, providing only the best
properties and fully integrated real estate services in the Qatar.
MakanRealEstateconsistentlyoffersspecialistknowledgeandpersonal
attention to its valued clients building trust through transparency in all
of its dealings as a company. Having an excellent understanding of its
clients’ needs.
ABOUT MAKAN
INVESTMENT
AND REAL ESTATE
DEVELOPMENT
CALL US
Our professional property consultants are available 7 days a week
to speak to you about and understand your property requirement
to match these to the best available properties.
VISIT OUR OFFICES
We welcome the opportunity to meet our clients face to face.
Contact us to arrange a meeting at our head office in Qatar.
INSPECTION VISIT
Once you’ve decided that Qatar is the right designation for you,
the best way to see the types of property available and expe-
rience everything Qatar has to offer is first hand on one of our
FREE inspection visits. Spaces do go quickly so please contact us
to find out more and make a booking.
VISIT US ONLINE
Visit us online at www.makan.qa to browse our fantastic range of
properties available in Qatar and keep up to date with the latest
news from region.
LEGAL DISCLAIMER
The information contained here is for general information purposes only. The information is provided by Makan Investment and Real Estate
Development and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any
kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information,
products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore
strictly at your own risk.
Makan Investment and Real Estate Development W.L.L.
HEAD OFFICE
Building No. 37, Second Floor, Office No. 6,
180 Othman Bin Affan Street, Doha Zone 55, Qatar
P.O. Box 93644 Doha, Qatar
Tel: (+974) 4016 0666
Email: info@makan.qa
MSHEIREB OFFICE
Zone 13, Al Meyyah Street, Doha, Qatar
P.O. Box: 329 Doha, Qatar
Tel: (+974) 4015 0555
We recognise that our people’s diverse
strengths combined with good teamwork
produces the best results.
OUR SERVICES
Our company provides properties and real
estate services tailored-fit to match the
clients’ requirements.
REAL ESTATE BROKERAGE
• Leasing
• Buy
• Sale
• Mortgage negotiations
• Property insurances facilities
PROPERTY MANAGEMENT
• Facility management
• 24 hours securities
• Landscaping
• Personalized property account manager
PROPERTY VALUATION
• Property Estimate
FIRST TIME BUYERS/SELLER
ADVISORY SERVICES
• Mortgage advisory
• Contractor selection
• Land development
• Bank loan advisory
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Makan Investment and Real Estate Development W.L.L.
Qatar is a sovereign Arab country located
in Western Asia, occupying the small Qatar
Peninsula on the northeastern coast of
the Arabian Peninsula covering an area of
11,606.8 Sq. Km. Its sole land border is with
Saudi Arabia to the south, with the rest of
its territory surrounded by the Persian
Gulf. A strait in the Persian Gulf separates
Qatar from the nearby island kingdom
of Bahrain.
ECONOMY
Since the mid-1800s, Qatar has grown
from a poor British protectorate known
for pearling into one of the world’s most
important oil and gas producing countries.
While there is increasing investment
in non-energy sectors, oil and gas still
account for more than half of the Gross
Domestic Product. Due to oil and gas,
the country now has one of the highest
incomes per capita in the world.
OVERVIEW OF
QATAR
THE PEOPLE
There are approximately 2 million people
living in Qatar. More than half of the
population lives in the capital city of Doha.
Three-quarters of the Qatari population are
Muslim, while the remaining population
practices a variety of other religions.
The official language is Arabic, though
English is commonly spoken. The thriving
economy has attracted a large number of
expatriates, particularly from neighboring
Arabic states.
RELIGION
Islam is the predominant religion. Qatar’s
official state religion is Wahhabi Islam.
Most Qatari citizens belong to the strict
Wahhabi sect of Islam. Sharia law is
the main source of Qatari legislation
according to Qatar’s Constitution.
CULTURE
Qatar’s culture is similar to that of
other countries in Eastern Arabia. The
Qatar National Day hosted every 18
December is the day Qataris celebrate
their national identity and history. On
that day, expressions of affection and
gratitude are conveyed to the people
of Qatar who cooperated in solidarity
and vowed allegiance and obedience to
Sheikh Jassim bin Mohammed Al Thani as
a leader in 1878.
EDUCATION
Through the Qatar Foundation, the
country has built an “Education City”,
hosting local branches of the Weill Cornell
Medical College, Georgetown University
School of Foreign Service, Northwestern’s
Medill School of Journalism, Texas
A&M’s School of Engineering, and other
ALTHOUGH TINY, QATAR WIELDS SIGNIFICANT CLOUT DUE TO
ITS NATURAL GAS WEALTH AND ITS SOVEREIGN WEALTH FUND,
WHICH IS ONE OF THE WORLD’S LARGEST.
AN OVERVIEW OF QATAR
• Qatar is the world’s richest
country per capita and
has the highest human
development in the
Arab World.
• Qatar is recognized as a high
income economy by the
World Bank.
• Qatar has the world’s third
largest natural gas reserves
and oil reserves in excess of
25 billion barrels.
• No income tax.
WHY INVEST IN QATARWestern institutions.
In 2008, Qatar established the Qatar
Science & Technology Park at Education
City to link those universities with industry.
Education City is also home to a fully
accredited International Baccalaureate
school, Qatar Academy. Two Canadian
institutions, the College of the North
Atlantic and the University of Calgary, also
operate campuses in Doha. Other for-
profit universities have also established
campuses in the city.
HEALTHCARE
In 2010, spending on healthcare accounted
for 2.2% of the country’s GDP. In 2006, there
were 23.12 physicians and 61.81 nurses per
10,000 inhabitants. Qatar has a low infant
mortality rate of 7 in 100,000 has made
developing a worldclasspublichealthsystem
one of its key goals through its National
Vision 2030.
Hamad Medical Corporation (HMC),
affiliated with Cornell University, is the
premier non-profit health care provider
in Doha, Qatar. Established by the Emiri
decree in 1979, HMC manages five
highly specialised hospitals and a health
care centre: Hamad General Hospital,
Rumailah Hospital, Women’s Hospital,
Psychiatric Hospital and the Primary
Health Care Centres and Al Khor Hospital.
These hospitals are quite sophisticated
by the standards of the region, with
most hosting advanced fMRI and other
scanning machines.
Other private hospitals consist of
Sidra Hospital, Al-Ahli Hospital, Doha
Clinic, Al-Emadi Hospital, Aster Medical
Centre, Alkharashy Dental Centers,
Naseem Al Rabeeh, The American
Hospital, Apollo Clinic, Future Medical
Center, Future Dental Center, Life Line
Medical Centre, Al Salam Poly Clinic and
Tadawi Medical.
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Makan Investment and Real Estate Development W.L.L.
In 2014 the Aspetar Centre in Doha
signed an agreement with the Ivorian
FA to provide medical assistance to the
national team before and during the FIFA
2014 World Cup in Brazil. Yaya Toure and
Didier Drogba are amongst the players to
have used the facilities. Qatar has made
developing a world class public health
system one of its key goals through its
National Vision 2030.
INFRASTRUCTURE
PROJECTS
The key driver of the inclusive growth of
the State of Qatar is its rapid Infrastructure
development. It is a critical enabler
for economic growth and contributes
significantly to human development,
and the attainment of the Millennium
Development Goals (MDG).
The winning of the World cup hosting
bid for 2022 is a strategic event that would
further boost the Qatar’s infrastructure in
the coming years. Measuring infrastructure
performanceisthusachallengefordecision
making process to improve the availability
and capacity of existing infrastructure and
extend it in other directions as well.
Hamad International Airport formerly known as New Doha International
Airport (NDIA) is an international airport in Doha, capital of Qatar. It has been
built 5 kilometers east of the current airport. The new airport is spread over
an area of 8,640 acres (3,500 ha).
NEW PORT PROJECT
As a major gateway to Qatar, and a significant investment in the country’s
future, the New Port will serve the expanding trade needs of Qatar,
supporting key objectives set forward in the Qatar National Vision 2030 and
acting as a catalyst for export industry development.
QATAR RAILWAY PROJECT
Qatar Rail is currently one of the biggest rail projects in the world. It will not
only bring a Metro to the Doha area of Qatar but it will also introduce long
distance travel to the country.
LUSAIL ICONIC STADIUM
The stadium will be used for the opening and final games of the 2022 FIFA
World Cup. Like the other stadiums planned for the 2022 World Cup, the
Lusail Stadium will be cooled using solar power and have a zero carbon
footprint. The stadium was designed by British firm, Foster + Partners. It will
have an almost circular base, be surrounded by a moat and be connected to
the car park by six bridges.
HAMAD INTERNATIONAL AIRPORT
AN OVERVIEW OF QATAR
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Makan Investment and Real Estate Development W.L.L.
THINGSTO SEE AND DO
ACTIVITIES
From jogging outdoors along the Corniche waterfront where traditional dhow boats wait to pick up their
passengers to enjoying the many parks Doha has to offer, Qatar is a place where visitors and residents alike can
find a range of healthy, indoor and outdoor activities to help keep fit. Qatar’s five star hotels offer world class and
award-winning spas for beauty treatments and fully equipped gyms with fitness trainers.
Parks
Museum of Islamic Art Park; Aspire Park;
Dahl Al Hamam Park; Khairatiyat Park; Al
Rumailah Park (Al Bidda Park); Al Wakrah
Public Park; Sheraton Park; Huwaila Four
Parks; Busamra Park (Previously known as
Al Khulaifat Park); Barzan Olympic Park
Sports
Qatar attracts the biggest sporting events
in the world, not least the World Cup
2022, Asian (football) Cup and Asian
Games, to name but three. Visitors have
the opportunity to stay and watch some
of the world’s most exciting sports events
in football, tennis, golf, sailing, power-
boating, cycling, motor racing, and desert
trekking and many more. In Qatar there are
also opportunities for nearly every sport
that visitors can experience and enjoy
during their stay. Qatar offers it all - from
bowling to cycling, dune-bashing to sand
skiing, football and rugby to falconry, golf
to ice-skating, horse racing to camel racing,
horse riding to jetski, motor sports to
water sports, tennis to swimming, snooker
to boating on anything from sailboats to
traditional dhows to luxury yachts. Then
you can kayak, dive or water-ski in the
beautifully clear and clean blue waters off
Qatar’s shores.
Finally, Qatar offers superb world-
class health and leisure facilities in 5
star luxury spas, gyms, fitness centres
and athletic stadiums – so visit Qatar to
feel great.
Beaches
The Qatar peninsula has beaches
galore with a 563 kilometre-long sandy
coastline with numerous small islets,
sand bars and reefs.
Below is a list of some of the most well
known beaches, but you can gain access
to the sea wherever you want. Just keep
in mind not to leave any litter behind you.
Many of Qatar’s five star hotels also have
lovely sandy beaches but if you are not
staying at the hotel there may be a charge.
•AlGhariya;Dukhan;Fuwairit;Maroona;
Beach near The Diplomatic Club (La
Page W. Drive); Sealine Beach Resort;
Ras Abrouq (Bir Zekreet); Simaisma;
Umm Bab
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THE ITINERARY
ENTERTAINMENT
Qatar entertainment is wide and varied with numerous
sources of entertainment for the tourists as well as for
the common people of Qatar. There are several sources
of entertainment in Qatar for kids in the form of theme
parks and entertainment parks and centres in the malls.
There are special attractions for children all over Qatar
and especially in Doha. The entertainment facilities in
Qatar are not only limited for children, but as there are
ample recreational opportunities for adults too.
Dining
Qatar provides the perfect combination of culinary arts – a diverse
collection of international cuisines and the chance to try some
exciting Arabic food. Situated at the crossroads of Europe, Asia and
Africa, the Arab world displays the influence of all three regions in the
number and variety of dishes in its traditional cuisine.
Qatar is home to an impressive range of dining experiences - from
the finest international cuisine to grabbing a quick bite on the run.
Hotels offer a broad range of culinary options including restaurants,
lounges and cafes as well as most offering a Friday brunch. Many of
these establishments are listed here.
• Qatari and Middle Eastern Cuisine; Far Eastern Cuisine; Indian
Cuisine; Italian Cuisine; International Cuisine; Seafood Cuisine;
Steakhouse
SHOPPING
Shopping Malls
Qatar is a great place for indulging in unlimited
‘retail therapy’...
• The Mall; City Center Doha; Villaggio; Landmark Mall; Royal
Plaza; Centrepoint (Al Asmakh Mall); The Gate Mall; Lagoona Mall;
Al Khor Mall; Hyatt Plaza; Ezdan Mall; Parco Mall; Wathnan Mall;
The Centre; Emporium; Safari Mall; The Pearl – Qatar
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Makan Investment and Real Estate Development W.L.L.
Souqs
Qatar’s local markets, known as souqs, uphold their world charm
retaining the atmosphere and spirit of a bazaar of days gone by...
• Souq Waqif; Souq Asiery; Souq Al Dira; Souq Al Jabor; Omani Souq
SIGHT SEEING
Qatarhasestablisheditselfasoneoftheregion’scultural
capitals, hosting major international events. Qatar is
also home to the finest cultural landmarks, some even
dating back to thousands of years demonstrating the
nation’s rich history and culture. In addition, Qatar has
a series of world-class museums that house some of
the world’s finest art collections.
• Museum of Islamic Art; Mathaf Museum; Katara Cultural Village;
Fort Zubarah; Souq Waqif; Sheikh Faisal bin Qassim Al Thani
Museum; Barzan Tower; Tourist Buses
NATURAL LANDMARKS
With the sun shining every day and a surprisingly rich
ecology, Qatar offers an engaging natural environment
to explore. The surrounding desert provides a great
deal of interest and adventure with such natural
landmarks as the Dhal Al Misfir, Desert Roses and the
Singing Sand Dunes.
• Dhal Al Misfir; Desert Roses; The Singing Sand Dunes; Al Dakhira
Natural Reserves; Al Reem-Natural Reserves; Ras Abrouq Natural
Reserves; Khor Al Adaid; Umm Tais-Natural Reserves
QATAR
TRAVEL TIPS
QATAR IS ONE OF THE SAFEST
PLACES IN THE WORLD. BOTH
VISITORS AND RESIDENTS
HAVE THE OPPORTUNITY TO
EXPERIENCE THE WELCOMING
AND FRIENDLY NATURE OF ARAB
CULTURE. LIKE ANYWHERE ELSE,
RESPECTING LOCAL TRADITIONS
AND PRACTICES ALLOWS YOU TO
ENJOY THE TRUE ESSENCE OF THE
HOST COUNTRY, GIVING YOU A
BETTER TRAVEL EXPERIENCE.
TIPS
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Parks
Museum of Islamic Art Park;
Aspire Park; Dahl Al Hamam Park;
Khairatiyat Park; Al Rumailah Park
(Al Bidda Park); Al Wakrah Public
Park; Sheraton Park; Huwaila Four
Parks; Busamra Park (Previously
known as Al Khulaifat Park); Barzan
Olympic Park
Sports
Qatar attracts the biggest sporting
events in the world, not least the
• QATAR AIRWAYS | www.qatarairways.com
• AIR FRANCE | www.airfrance.com
• AIR INDIA & AIR INDIA EXPRESS | www.airindia.in
| www.airindiaexpress.in
• AIR ARABIA | www.airarabia.com
• BAHRAIN AIR | en.bahrainair.net
• BRITISH AIRWAYS | www.britishairways.com
• CATHAY PACIFIC| www.cathaypacific.com
• CYPRUS AIRWAYS | www.cyprusair.com
• DELTA AIRLINES | www.delta.com
• EGYPT AIR | www.egyptair.com
• EMIRATES | www.emirates.com
• ETIHAD AIRWAYS | www.etihadairways.com
INTERNATIONAL AIRLINES FLYING TO QATAR
• FLY DUBAI | www.flydubai.com
• GULF AIR | www.gulfair.com
• JET AIRWAYS | www.jetairways.com
• KLM (Darwish Travel) | www.klm.com
• KUWAIT AIRWAYS | www.kuwaitairways.com
• LUFTHANSA | www.lufthansa.com
• OMAN AIR | www.omanair.com
•PAKISTANINTERNATIONALAIRLINES|www.piak.com.pk
• ROYAL JORDANIAN | www.rj.com
• SAUDI ARABIAN AIRLINES | www.saudiairlines.com
• SRI LANKAN AIRLINES | www.srilankan.com
• TURKISH AIRLINES | www.turkishairlines.com
BOOK YOUR FLIGHT: The Airport is just
8 km from the city centre, with Doha’s
Corniche, the old city centre and the West
Bay business district are all not more than
a 15-minute drive away. Most hotels will
arrange airport pick-ups and drop-offs.
Various car-hire agencies have kiosks
inside the Arrivals terminal, and metered
taxis are readily available outside.
TAXI: The national transport company
Mowasalat operates the bus, taxi and
limousine service Karwa. To book a taxi,
you may call (+974) 4458 8888.
BUSES: Mowasalat started its public bus
service for the first time in Qatar in October
2005 with new high standard vehicles.
Mowasalat network has an outreach to
cover all areas within the state of Qatar.
Mowasalat public bus service is affordable
in a wide range and available to all tyes of
people. Our buses are available in the main
bus station or from any of our bus stops
that can be found on the roads.
CAR RENTAL: For a longer stay, you may
prefer renting your own car. International
and local companies can provide you with
a large range of cars, from a saloon car to
a large 4x4. You can use your international
driving license for 7 consecutive days from
your date of arrival in Qatar. If you wish to
extend your driving you must apply for a
temporary driving license at the Traffic
Department of the Ministry of Interior.
Below are some car rental companies:
• Al Mana (+974) 4462 2891
• Avis (+974) 4462 2180
• Budget (+974) 4431 0415
• Euro Dollar (+974) 4432 1313
• Europcar (+974) 4443 8404
• Hertz (+974) 4462 2563
•NationalCarRental(+974)44871995
• Oasis (+974) 4413 0011
• Sixth (+974) 4432 4313
TOUR OPERATORS: You may also
enjoy your visit in Qatar with different
tour packages. Below are some of the
companies that you may get in touch with:
• Arabian Adventures | 4436 1461/5556 5359
• Black Pearl Tourism | 5555 1169
• Gulf Adventures World | 4422 1888/
5588 1760
• Qatar International Adventures
4455 3954 / 5552 7225
• QatarInternationalTours44551141/55864568
• QatarVenturesTourism 44318440/55776679
• Regency Travel & Tours | 4434 4444
GETTING AROUND
Qatar’s road infrastructure and transport system is being
further developed and enhanced every day to ensure a
comprehensive and modern system across Qatar. Below you
can find contact information for the different transportation
options in the country.
THINGS YOU
SHOULD KNOW
VISA
• Tourist visas are available on entry for
citizens of 33 countries. The cost of visa
for a month is QR100 per person, and
an additional QR50 per companion
registered on your visa.
• Tourist entry visa is available
on arrival for residents of the
GCC states.
• You can also apply for a joint tourist visa
for Qatar and Oman.
• Business Visa: You can avail of two types
of business visa. A 72-hour visa on arrival,
and one that you have to apply for in
advance that can be extended.
• Family Visit Visa: Expatriates with
family status can sponsor parents
and siblings for a visit of up to
six months.
CLOTHING
Men and women should dress modestly
as a courtesy to both Qataris and
Muslims. Swimsuits and beachwear
are acceptable at the hotel beaches
(don’t forget sunscreen), but it is
not appropriate to show too much
skin in other public areas. Visitors
should be thoughtful of their clothing
particularly in the Holy Month
of Ramadan.
TRAVEL INSURANCE
It is recommended that visitors take
travel insurance when visiting Qatar
for holiday or business travel. Traveling
without suitable travel insurance may at
times prove expensive than expected, as
at times you may face situations wherein
you may be required to pay medical
bills in case of any emergency medical
treatment,ormayneedtocancelyourtrip
unexpectedly, or in cases of accidents or
lost/damaged baggage.
Travel Insurance, apart from covering
medical costs, also offers 24-hour
assistanceincaseofanylostbaggageanor
money. Therefore, it is recommended
to take some professional advice on
how to choose the right expatriate
health/travel insurance.
LANGUAGE
Arabic is the official and main language,
but English is widely spoken in every part
of the country. Despite the fact that most
Qatari people speak fluently English, they
feel honored to see their guests speaking a
few words in Arabic.
CURRENCY
The Qatari Riyal is the currency of Qatar. It is
dividedinto100dirhamwithdenominations
of 1, 5, 10, 50, 100 and 500 Riyals.
LOCAL CUSTOMS
AND ETIQUETTE
Local laws in Qatar reflect the fact that
Qatar is an Islamic country, and the laws
here should be respected at all times.
You will have to ensure that your actions
do not offend other cultures or religious
beliefs, particularly, during the holy month
of Ramadan, when visiting religious areas.
Importing alcohol, pornography,
pork products, narcotics and religious
books into Qatar is illegal. All passenger
luggages are scanned for its contents at
Doha Airport Arrivals Hall. DVDs and
videos are subjected to scrutiny and may
be censored.
However, travellers entering Qatar may
bring in reasonable amount of perfume
for personal use, without paying duty.
The penalties for possession of or trade
in drugs are severe, often resulting in
imprisonment. Similarly, it is a punishable
offence to drink alcohol in public.
QATAR PUBLIC HOLIDAY
• Qatar National Day (1 Day) on
December 18.
• Eid ul-Fitr (4 Days) occurs on the
first day of the month of Shawwal in
the Islamic calendar. This produces a
variable date in the Gregorian calendar.
• Eid ul-Adha (4 Days) is on the 10th day
of the month of Dhu al-Hijjah; it also
varies in the Gregorian system.
• National Sports Day to fall on the
second Tuesday of February (from
2012 AD).
Note: Government offices run on a five-
hour schedule, from 9am to 2pm, during
Ramadan – though some agencies are
open at night. Private sector employees
are supposed to work a shortened six
hours a day, for a total of 36 hours/
week, according to the Labor Law.
However, business continues as usual in
some workplaces.
TIPS
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BLOSSOMS.COM/?P=1374
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PROJECTS/MOWASALAT-BRAND-IDENTITY
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TRANSPORTATION.PHP
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9. 16 17
Makan Investment and Real Estate Development W.L.L.
QATAR REAL ESTATE MARKET
Qatar has the world’s fastest growing economy and a rapidly
expanding population, which together are making of a buoyant
local real estate sector, in retail, residential and commercial
property. The ongoing expansion of Qatar’s energy sector is
attracting more and more companies to the peninsula.
Efforts to diversify the local economy are also gathering pace,
with a variety of major infrastructure projects underway, such
as a new international airport, national railway network and
metro, seaport, and an ambitious hotel building programme.
More than 65,000 hotel rooms will be developed over the
next decade. The success of Qatar Airways is also establishing
Qatar as an aviation hub and attracting increasing number
of visitors.
Tourist arrivals are expected to grow from 1.2 million in 2009
to an estimated 7 million by 2022. Qatar’s successful bid to host
the 2022 World Cup will present opportunities across the local
economy. Retail spending alone is expected to double to US$8
billion over the next decade.
BUYING PROPERTY IN QATAR
The property market in Qatar has only been open to non-Qataris
for a relatively short time. Foreigners are permitted to buy freehold
properties in certain designated developments only, but can also
legally buy 99-year leasehold rights to residential units in other
allotted parts of the country. One advantage of purchasing is
that property owners are (at present) automatically entitled to a
residency visa for themselves and their immediate family, subject
to certain conditions.
Property prices experienced a sharp dip during the recent global
financial crisis, and the market for foreigners is still at an early stage,
with no secondary market yet established. Many non-Qataris have
purchased properties in new developments off-plan, with prices
being agreed before the market became so volatile.
REGULATIONS FOR BUYING A PROPERTY
Regulation was introduced in 2004 to allow foreigners to buy
property in a number of large-scale developments, but it is only
since 2009, as these projects have been finished, that the first formal
transactions with non-Qataris have been completed.
PROPERTY OWNER’S VISA
Non-Qatari home purchasers are entitled to apply for a
homeowner’s residence permit, which is valid for five years
renewable and allows the owner and their immediate family to
live in Qatar.
BUYING A
PROPERTY
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BAHRAIN-BANK-LAUNCHES-22M-QATAR-DEVELOPMENT/
PROPERTIES
THE BUYING PROCESS
Just as the property market in Doha is still at an early stage and very
lucrative business investment, Makan will assist you with a search
for a specific type of property.
BUYING OFF-PLAN
Buying off-plan (purchasing a unit in an apartment block before it
has been built) is common in Qatar. While this may be cheaper than
buying a completed property.
CONTRACTS, DOCUMENTS AND FEES
As with any property purchase, contracts should be drawn up or
verified by a lawyer. Legal documents in Qatar are always written in
Arabic. A lawyer should also be tasked to carry out a due diligence
process on all relevant aspects, such as obtaining and verifying any
necessary building licenses, planning permission consents, and
company registration documents of developers or sellers, and a
secure payment agreement should be set up for any installment or
deposit transactions (particularly when it is an off-plan purchase).
REGISTERING THE PROPERTY
After contracts have been exchanged, the purchaser must take the
property title deeds, signed contracts and either final payment
confirmation (if buying off-plan) or mortgage and deposit details
to Qatar’s Real Estate Registration and Authentication Department
at the Ministry of Municipality and Urban Planning. Various
application forms need to be completed and documents verified,
and at least one of the parties needs to be present in person.
Registration must then be completed at the Ministry of Justice’s Real
Estate Registration Department.
FEES
Although there is no property tax as such in Qatar, the buyer at
this stage must also pay a transfer fee of 0.25 percent of the value
of the property, and then a final, binding confirmation contract is
approved depending on the location of properties.
Fees may also be charged by the developer for ‘extras’ such
as ongoing maintenance, car park fees or other facilities, so it is
important to be aware of these before the purchase is agreed on.
MORTGAGES IN QATAR
Most of the major banks with a presence in Qatar offer mortgage
facilities for property purchases, although lending conditions
are much less favourable now than they were before the global
economic downturn. Deposits required vary from lender to lender,
and depend on the value of the property being purchased.
INTEREST RATES
Interest rates and lengths of mortgages vary too. Islamic banks do not
chargeinterest,incompliancewithSharialaw,butusuallyhaveashorter
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