"Real Estate Regulatory Authority" Outlines Licensing Requirements for Off-Plan Sales Projects to Enhance Transparency and Protect Beneficiaries

The Real Estate Regulatory Authority (RERA) has announced the licensing requirements for off-plan sales projects, as part of its ongoing efforts to enhance transparency in the real estate market and protect the rights of beneficiaries, in alignment with the goals of Qatar National Vision 2030.

The Authority explained that real estate developers wishing to offer subdivided units for off-plan sale must submit a formal application along with a set of essential documents, including:

1. A certificate confirming the opening of a bank account in accordance with the provisions of the law.
2. Title deed of the project land, along with proof of off-plan subdivision, detailing all unit data.
3. A project budget indicating construction costs and expected revenues, certified by a state-licensed auditor.
4. A draft advertisement for the off-plan sale, in line with Article (11) of the law.
5. A proposed sales contract template.
6. Architectural designs and engineering plans approved by the relevant authorities.
7. A copy of the contract signed with a subcontractor, if applicable.

The Authority confirmed that the competent department will issue its approval, including endorsement of the advertisement draft and contract template. It stressed that no modifications are allowed to the advertisement draft or the terms and conditions of the contract after approval.

Additionally, the Authority noted that the same provisions and procedures outlined in Article (4) of the law apply to submitted requests, ensuring that the off-plan sales process remains well-regulated and in the interest of all stakeholders, contributing to the stability of the real estate sector.