Real Estate Platform will be launched at the start of October to provide accurate data about the real estate market and services

A senior official announced that the Real Estate Platform, which would offer accurate data on the real estate market and services, will open at the beginning of October.

Ahmed Al Emadi, Director of the Legal Affairs Department at the Ministry of Municipality, stated that the platform will be established in accordance with the Real Estate Development Strategy to further simplify the real estate industry.

Al Emadi stated that the Real Estate Platform would be implemented in three stages beginning in October of this year.

The first step is to give individuals working in the real estate industry facts and information, such as the area's occupancy rate, pricing, and number of transactions.

For investors and businesses involved in the real estate market, the aforementioned information is crucial for making the appropriate decisions.

Investors' judgements will be guided by the statistics. "The second phase is to link the platform with government agencies, which is very necessary to ensure smooth operations of the real estate sector," stated Al Emadi. The final stage, according to him, entails offering real estate services via the site.

"The platform will be fully operational within one or two years from the date of its launch in October," said Al Emadi.

He claimed that the Real Estate Regulatory Authority was established by Amir H H Sheikh Tamim bin Hamad Al Thani, who issued Amiri Decision No 28 of 2023.

"It will provide information and data about the real estate market for uploading on the Real Estate Platform," stated Al Emadi. The authority will also keep an eye on the fees real estate businesses charge their customers. Additionally, it will keep an eye on certain operations like developer licencing. According to Al Emadi, these are the authority's main responsibilities.

The suggestion to establish a Real Estate Regulatory Authority, according to him, is the Real Estate Strategy Development Committee's most significant output.