HE Chairman of Qatar Chamber of Commerce and Industry Sheikh Khalifa bin Jassim bin Mohammed Al-Thani told Al-Sharq newspaper that the State of Qatar is one of the leading countries in the domestic and foreign investment and in exploiting the available financial earnings as Qatari investments cover most of the world.
HE noted that Qatar Investment Authority ranked first in the world in 2014, in term of growth rate in the volume of assets that reached over 50% since its establishment in 2005, recording $256 billion.
He pointed out that the size of the assets of the Qatar Investment Authority, estimated at about $450 billion, distributed among a number of sectors, including investment and banking portfolios and real estate, tourism and agricultural sectors, as well as other economic activities in Qatar, GCC countries and various countries of the world.
HE Sheikh Khalifa bin Jassim added that according to economic reports, during the past five years, Qatar was able to invest about QR477 billion ($131 billion) and during last year Qatari investments abroad amounted to $36.5 billion, compared to $21.5 billion in 2013. The volume of these investments in 2012 reached approximately $45 billion compared to $13 billion in 2011 and $15 billion in 2010, he added.
HE Chairman of Qatar Chamber said that the most important attractive advantages to invest in Qatar is the allocation of lands for the investor for a period of 50 years, which may be renewed, utilization of lands and condominiums in specific areas for a period of 99 years, renewable for a one-time and the exemption of foreign capital from income tax for 10 years.
Also among the advantages of investment are the exemption from import customs duties on the primary raw materials and half-manufactured materials, which are not available in Qatar, the recovery of the needs of the project during the construction or operation, the project is to be provided by the energy, petroleum products and gas at a competitive price, the absence of taxes on exports, the lack of restrictive import quotas, the freedom to transfer the project's capital, revenues or profits without limitation and the flexible migration and labor laws, HE added.
Non-Qatari national can also own up to 49% of the capital of companies listed on Qatar Exchange Non-Qataris may invest up to 100 percent of the project capital in all the sectors of the national economy and may invest up to 100% of the project capital in all sectors of the national economy provided they have a Qatari services agent, he said.
Regarding the challenges facing the real estate sector of Qatar in light of preparations for the 2022 World Cup, HE Chairman of Qatar Chamber said that the most important challenges are the withdrawal of major companies from the rental of properties for its employees and replace them with housing allowance, in addition to the high prices of lands.
He also expected that the completion of infrastructure development projects as Hamad Port, the rail project and wastewater projects as well as paying attention to health, hospitality and tourism sector will open real estate projects.
