Ministry of Municipality Inaugurates 1st Phase of Qatar's Unified Real Estate Platform

Doha, December 13 (QNA) - The Ministry of Municipality inaugurated Wednesday at Expo 2023 Doha, the first phase of the State of Qatar's unified real estate platform, in the presence of several senior officials from various ministries and government bodies.
Following the inauguration, HE Minister of Municipality Dr. Abdullah bin Abdulaziz bin Turki Al Subaie highlighted the importance of the unified real estate platform as a result of cooperation between the government and the private sector and in line with the wise leadership's directives to provide a transparent real estate sector and offer sufficient data that facilitates investment procedures.
The platform will also provide an important step to achieve transparency and credibility for developers, tenants, and Qatari and foreign investors, His Excellency said.
His Excellency added that the real estate services will be re-assessed and developed in the coming period by introducing a series of other services.
The platform will provide all concerned agencies with information, data and indicators about the real estate market such as selling, mortgage and rent in various regions of the country, His Excellency added, adding the platform would show across-the-country real estate average prices, the real estate laws, accredited brokers and the required procedures, which makes it an important interface for stakeholders.
The real estate data is collected from its various sources to be analyzed and then stored in a central platform to achieve the future and strategic real estate goals, with the aim of enhancing investment opportunities by reviewing data and statistics related to sale and rent transactions, identifying the brokers and real estate developers involved, raising the level of transparency and guiding decision-making within correct and reliable data.
The platform also aims to form a better understanding of the real estate market needs based on data on occupancy and current and future supply. 

For his part, Director of the Technical Office at the Ministry of Municipality Engineer Tariq Juma Al Tamimi outlined that the launch of the first phase of the State of Qatar's real estate platform aims to bolster the enforcement of the strategy for developing the real estate sector, in accordance with Amiri Resolution No. 28 of 2023, establishing the Real Estate Regulatory Authority.
      He added that the first phase of the real estate platform project includes developing more than 80 indicators, distributed across several interactive screens on a central platform. The platform provides indicators for those interested in the real estate sector by collecting real estate data from multiple sources in the country and analyzing it accordingly, and this stage is considered the basic foundation.
    He affirmed that this stage would form the basis for accomplishing the development of the platform in its final configuration, indicating that this will be done by fully connecting all relevant systems in the country, which will help the platform provide all real estate services, including displaying data and statistics in an organized manner for the benefit of all workers in the real estate sector in the country. 
    For her part, Director of Information Systems Department at the Ministry of Municipality, Dr. Hamda Al Maadeed indicated that the department has carried out an array of projects associated with the real estate database, such as modernizing the infrastructure, as well as database and storage to ensure the required speed and provide the essential protection for data.
    The platform was developed to capitalize on the advantage of cloud computing and artificial intelligence (AI) technologies in machine learning, intelligent data analysis, and future prediction of real estate market trends, she added, pointing out that  the platform provides its users with access to the correct information rapidly and effectively, with the different details provided according to the powers granted to each group of users to suit their needs and take into account privacy in providing detailed data in accordance with Qatari laws, she said. (QNA)