Banking, Commerce & Industry in Qatar: Winter 2021/22

W I N T E R 2021/22 I N O.8 2 BANKING AND FINANCE ECONOMY COMMERCE USEFUL NUMBERS INVESTMENT AND TRADE INFRASTRUCTURE IN QATAR

FEATURE FIFA WORLD CUP QATAR 2022TM LAWS ISSUED

Banking, Commerce & Infrastructure in

Qatar

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Discover the most popular tours in Qatar

Discover Doha

Discover the Dunes and the Inland Sea

Explore Doha on a fully guided tour to learn about the rich history and the future plans of this great city.

From QAR 102

Embark on a four-wheel drive adventure through the desert to one of only 3 places in the world, where sand dunes meet the sea.

From QAR 398

Discover Souq Waqif

Discover Regional Cuisine

Explore the vibrant alleys of Souq Waqif and its many hidden gems with one of our expert local guides.

From QAR 180

Discover true Arabian hospitality through a unique cultural experience and local food journey.

From QAR 390

Discover Arabian Horses

Discover the Zekreet Peninsula

Experience Qatar’s gleaming, ultramodern equestrian center and discover the history behind the world recognised Arabian breeds.

From QAR 500

Embark on a privately guided tour to the North of Qatar where the famous rock formations dominate the landscape.

C

M

Y

CM

MY

CY

CMY

K

From QAR 909

To view our full range of tours, airport services and transfers visit our website, scan QR code or call us

discoverqatar.qa +974 4423 7103 Prices are correct as at the date published 01/12/2021 and are subject to change.

QATAR BANKING, COMMERCE & INFRASTRUCTURE E-GUIDE © Marhaba_Cover.indd 1

MARHABA

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Banking, Commerce & Infrastructure • • • • •

Useful Numbers: Banks and Exchange Houses The Banking Network in Qatar • Currency The Banking Sector • Qatar Central Bank • Qatar Credit Bureau Loans, Bank Charges and Interest Rates • Accounts • Offshore Banking Financial Services and Insurance • Islamic Finance

Economy • Economic Growth and Gross Domestic Product (GDP) • Trade Surplus • The Budget • Inflation and Cost of Living • Population and the Labour Force

Commerce Useful Numbers Investment and Trade • • • • • •

Incentives • Investment Regulations • Choosing a Business Structure Company Structures • Commercial Registration Export and Import • Taxation • Intellectual Property Regulatory Bodies and Government‑owned Entities Qatar Financial Centre • Qatar Exchange • Real Estate Developers and Real Estate Agents Selling Property • Business Etiquette

Feature – FIFA World Cup Qatar 2022TM Laws Issued Two important laws have been passed concerning Qatar’s hosting of the event and the associated intellectual property rights.

Infrastructure in Qatar

Banking,Commerce & Infrastructure

Banking and Finance

An overview of local infrastructure, with details of ongoing megaprojects and new developemnts, and contact information for contractors.

Map of Infrastructure Feature – Qetaifan Island North Qatar’s Lusail City is embarking on a stunning new island project.

The information contained in this guide has been checked and verified as correct as at the time of compilation. Due to the COVID-19 pandemic, information is subject to change.

Follow marhaba.qa for the latest updates. ©

MARHABA

WINTER 2021/22

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Founder & Managing Editor Hilary Bainbridge Editorial Sarah Palmer (Editor) Ola Diab (Deputy Editor) Terry Sutcliffe Advertising Howard Bainbridge Charlotte Wright Retail Sales Ayen Molina Online/Digital Lalaine Turqueza Weslee Dizon Ramla Mohamed Abdirahman Neena Turqueza (Intern) Matthew Wright (Researcher)

Marhaba endeavours to quote accurate information and updates each of its sections every issue. However, the company accepts no responsibility or liability for any false, inaccurate, inappropriate or incomplete information presented, whether in print, on the website, or on social media channels. © 2021/22 Marhaba Information Guide.

All Rights Reserved. No part of this magazine may be reproduced, in any form, without written permission of the publishers.

Dana Public Relations PO Box 3797, Doha, Qatar Tel (+974) 4465 5533, 4465 0083 Fax (+974) 4465 5588 General Information marhaba@qatar.net.qa Retail Sales retailsales@marhaba-qatar.com Follow us

Design and Artwork Dick Tamayo Mar Principe Arnel Ramos

IMPRESSUM M82 1/2 page.indd 1

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FIFA World Cup Qatar 2022™ Commemorative Plate Own this exquisite and unique collectible, Only '2022' limited editions are available!

24K-18K gold plated-steel plate, 24K gold plated holder

Traditional Qatari Sadu Pattern encircling the FIFA World Cup Qatar 2022™ official logo

©FIFA, FIFA's Official Licensed Product, Logos, and the Emblems, Mascots, Posters and Trophies of the FIFA World Cup™ tournaments are copyrights and/or trademarks of FIFA.

FIFA Plate_Marhaba Artwork.indd 1

Exclusive by traditional artisan techniques

The FIFA World Cup Qatar 2022™ Commemorative Plate Limited Edition will be available online to purchase for a limited period only or till stocks last.

BOOK NOW www. gifts-novelties.blackarrow.com.qa

©

MARHABA

11/23/21 10:23 AM WINTER 2021/22

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51

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See more details of the area in our map of INDUSTRIAL AREA

rt Spo

55

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Al Asiri

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Al Waab City

Beverly Hills Gardens

Al S

Al Sadd St

DoubleTree Doha Clinic Gulf P Al Sadd Hospital We QNA Ho Al Mirqab Mall Family Jarir Food Centre

ha

Awqaf

Torch

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Aspire Park

Aspire Zone

Vet Surge

Avenue Millennium Royal Plaza

Joaan

Jassim Bin Hamad Stadium (Al Sadd Club)

CESK

Al W

Hotel

55

Step by Step

2

Wyndham Grand Regency

Al Asmakh Mall

Al Sudan Study Plus

Hamad Amb Hospital

Warwick AIA

Whit Palac

Hamad

Women’s

British Council

Rasheeda St

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Fir Stat

Su h aim Bin Ha

Am

t Jassim B i n Ali S

Al S

53 Royal Hall

Wathnan Mall

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Imperial Suites

54

Driving School

Al A

51 Al Gharrafa/ Bani Hajer 52 Al Luqta/Lebday Old Al Rayyan/ Al Shaqab 53 New Al Rayyan Muaither, Al Wajba 54 Al Soudan, Mehairja, Muraikh, Luaib, Baaya 55 Al Soudan, Al Waab 56 Bu Hamour, Mesaimeer, Ain Khaled 57 Industrial Area 60 Al Dafna 61 Al Dafna, Al Gassar 62 Lekhwair 63 Onaiza 64 Lejbailat 65 Onaiza 66 Legtaifiya, Onaiza 67 Hazm Al Markhiya 68 Jelaiah, Al Tarfa 69 Al Egla 70 Wadi Al Banat, Al Ebb Rawdat Al Hamama

Al Rayyan Security Dept

Ain

E

26 27

28 Sharg Zone/ Al Khulaifat 29 Ras Bu Abboud 30 Duhail 31 Umm Lekhba 32 Madinat Khalifa (N) 33 Al Markhiya 34 Madinat Khalifa (S) 35 Kulaib 36 Al Messila 37 New Al Hitmi/ Bin Omran Hamad Medical City 38 Al Sadd 39 Al Nasr/Al Sadd Al Mirqab Al Jadeed 40 New Slata 41 Nuaija 42 Al Hilal 43 Al Maamoura, Nuaija 44 Nuaija 45 Old Airport 46 Mesaimeer/ Al Thumama 47 Al Thumama 48 Doha Int'l Airport 49 Hamad Int'l Airport/ Banana Island

Al Furousiya St

18 19 20 21 22 23 24 25

Al Jasra Al Bidda Mohd Bin Jasim Mushaireb Barahat Al Jufairi Old Al Ghanim Al Souq Wadi Al Sail Arumaila, Armeilla Al Bidda Abdul Aziz Al Doha Al Jadeeda Old Al Ghanim Sharg Zone/ Al Hitmi/Al Rufaa Sharg Zone/Slata Doha Port Wadi Al Sail Al Rumeila, Armeilla Bin Mahmoud Bin Mahmoud Rawdat Al Khail Al Mansoura/ Bin Derhem Najma Umm Ghuwailina

Sedaira St

1 2 3 4 5 6 7 10 11 12 14 15 16 17

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54 38

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Full details of Qatar’s districts and zones at gisqatar.org.qa

Appletree Nursery

MoI HQ

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City

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(zones comprise one or more districts, some of which are listed below)

University of Calgary

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THE ZONES OF DOHA D

Al Messila Resort & Spa

Al Messila

Newton

Racing & Equestrian Club

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Messila

yan Al Jadeed S t

Al Wajba St

Metro Stations

Nissan Civil Defence Al Ahli Hospital

36 37 Medical

Al Rayyan Al Qadeem

Compass

St

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Gold line Al Aziziyah - Ras Bu Abboud

Ansar Gallery

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Al Rayyan Municipality Food Jarir Centres Bookstore

Doha College Al Wajba

34 35

Al Jazira Al Arabiya St University Foundation College English Modern School

64

Volvo

QBS QTV

DESS

Omar Bin Al

Al

Imam Mohd Ibn Abdul Wahab Honda

Qatar Guest Centre

French Nursery

Beverly Hills Al Rayyan

Red line Lusail - HIA T1 - Al Wakra Green line Al Riffa - Al Mansoura

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Chef’s Garden

SEK

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EC Golf Club

Makkah St

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Swiss International

Makkah St

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32 33

Al Gharrafa

New

Al Kh

St

Kanga’s Pouch

Souq Al Ali

Education City

St

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CCQ Boys

Starfish Lane Kids

Khalifa St

Al Luqta St

St

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All trains connect at Msheireb Station

Car Park

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Compass QNCC Qatar National Library

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Park View Compass Pet Centre

Little Academy

St

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2 Qatar Environment and Energy Research Institute (QEERI)

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Education City Stadium FIFA World Cup Qatar 2022™

Premier Inn Doha Education City Hotel

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14. Qatar National Convention Centre (QNCC) 15. Qatar National Library (QNL) 16. Qatar Science & Technology Park (QSTP) 17. Sidra Medicine 18. Texas A&M University at Qatar (TAMUQ) 19. Virginia Commonwealth University School of the Arts in Qatar (VCUarts Qatar) 20. Weill Cornell Medicine-Qatar (WCM-Q) 21. Academyati

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Academic Bridge Program (ABP) Al Shaqab Carnegie Mellon University in Qatar (CMU-Q) Ceremonial Court Georgetown University in Qatar (GU-Q) Education City Golf Club Hamad Bin Khalifa University (HBKU) Education City Mosque Multaqa (Student Center) Northwestern University in Qatar (NU-Q) Oxygen Park Qatar Academy Doha (Primary School)

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Al Khor Semaisma Losail Int’l Circuit

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Al Shamal Al Ruwais Ras Laffan Al Zubara Al Khor Umm Garn Umm Slal

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11/24/21 4:33 PM

Ansar Gallery

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Katara Towers

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Staybridge Suites Doha Lusail Katara Hospitality

Doha Sports Park

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QIPCO

Qatar University

Doha Golf Club Lagoona Mall

Ritz-Carlton

Grand Mondrian Hyatt

Legtaifiya Lagoon

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Mexico

C4

Belarus

B3

Moldova

B4

Belgium

C3

Morocco

C4

Benin

C3

Nepal

E3 C4

B3

Netherlands

Brazil

B3

Niger

C3

Brunei

B3

Nigeria

C4

Bulgaria

B3

North Macedonia C4

Burkina Faso

B3

Oman

Canada

C4

Pakistan

C. African Rep

B3

Palestine

C4

Chile

C4

Panama

B4

China

B3

Paraguay

B3

Costa Rica

C3

Peru

Croatia

C4

Philippines

B3

Cuba

B3

Poland

B4

Cyprus

C4

Portugal

C4

Djibouti

B4

Romania

C4

Dom. Rep.

B3

Russia

B4

Ecuador

B4

Senegal

C3

El Salvador

B4

Serbia

B3

Eritrea

E4

Singapore

B4

eSwatini

B4

Somalia

C4

Ethiopia

B3

South Africa

B3

France

C4

Spain

B4

Gambia

E4

Sri Lanka

E4

Georgia

C4

Sudan

Germany

C3

Sweden

C4

Ghana

B3

Switzerland

B3

Greece

B4

Syria

C4

Hungary

B3

Tajikistan

C3

India

C4

Tanzania

C4

Indonesia

D3

Thailand

Iran

C4

Tunisia

C4

Iraq

C4

Turkey

B4

A

B4 C4

C3

B

C4

C4

C4

Uganda

B3

Ivory Coast

B4

Ukraine

B3

Japan

B4

United Kingdom

C4

Jordan

C4

United States

Kazakhstan

B3

of America

C3

Kenya

B3

Uruguay

C3

Korea (S)

B4

Venezuela

B4

Kosovo

C4

Vietnam

B3

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I/ C –

Rawdat Al Khail St

C orridor

See our detailed map of the area south of Doha MAP of AL WAKRA

St

Al Meera

Air Force I/C

Free Zone

Qatar Free Zone

Ras Bufontas Qatar Free Zone

E

Kahramaa

Al Weteyyat

Hamad Int’l Airport

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Safari Mind Institute

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Tank Farm

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Al Jazeera Academy

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56

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Premier Inn Doha Airport Hotel Capital Al Liwan Police Concorde Jarir Bookstore

C Ring Rd

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D Ring Rd

Doha Academy

B4

Stadium 974 FIFA World Cup Qatar 2022™

Doha Marriott

Sharq Village & Spa

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41 42

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by Anantara

16 23 14 15 27 Bin Mahmoud

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11 12 2 1 7 22 3 13 4 5 6 17 oud St

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Four Seasons

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Wyndham Grand Regency

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Park

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City Center Retaj Doha Rayyan

Katara The Pearl-Qatar Lagoona Mall Al Bidda Park Souq Waqif National Museum of Qatar Grand Mosque QNCC Al Shaqab Mathaf Museum

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Floresta Gardens

ar St

Imam Mohd Ibn Abdul Wahab Honda

Qatar Guest Centre

Sedra Arjaan Residences by Rotana

31

5/6 O Int’change ma

S iya rkh Ma

Edison

Viva Bahriya

Novo Cinemas

Al Qassar

5/6 Park

Onaiza St

33

t

29

30

SEK

Al Hazm

c HQ

Chouiefat

Omar Al M uk ht

West Bay Al Meera

Starfish Lane Kids

Medina Centrale

23

Porto Arabia

The Pearl-Qatar

Institut Francais du Qatar

Kanga’s Pouch Elder Tree KG

1

Newton

Newton

CCQ Boys

Porsche

20

21 High St

Al Khafji St

St

Al M

Edison

St

18

22

2

Katara

66

67 zm

L

4

Lusail St

68 Ha

ya

t Lycee Wadi Rawd a n S Voltaire

Al Ghaf St

h ex

ifi

ag

Le

ta

t nS oo

6

Oyster

Diplomatic Club

The PearlQatar

15 12

ette ois

Lusai l St

Ministry of Education

Marsa Malaz Kempinski

Qanat Quartier

Hilton The Pearl

Legtaifiya

7

f the antic

Afghanistan

Bosnia & H

Lusa

rfa

a Al T

Lusail Marina

Vendome Mall

Energy City Qatar

Qatar Petroleum District

s2

EMBASSY LOCATIONS

Fox Hills North

Lusail Towers

Comm

aS

5

Qetaifan Island North

Qetaifan Island North

B Square Mall

Airport (49) I/C

Workers Health Centre

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Don’t leave it too long to swap your old banknotes for new!

On 13 December 2020, Qatar Central Bank introduced the 5th Series of Qatar Riyal Banknotes which entered the banking system on 18 December, Qatar National Day. The design of the new banknotes reflects Qatari tradition, Islamic history, culture, flora and fauna, and the country’s development in education, sport and economy. There is a new denomination, the QAR200 note, to bridge the gap between QAR100 and QAR500 banknotes.

ATMs and cash deposit machines in Qatar have been upgraded to accept the new banknotes, which have a number of security features and new designs.

Qatar Central Bank has extended the exchange of old banknotes for new until 31 December 2021. In the new year, the banknotes from the 4th Series will become illegal and indemnified currency – anyone still holding these notes will need to recover their value from Qatar Central Bank directly, within a period not exceeding 10 years from the date of the withdrawal decision.

Make sure you swap these...

for these!

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Banking and Finance Bank

Telephone Website

Regional Banks Ahlibank

4420 5222

ahlibank.com.qa

Al Khalij Commercial Bank

4494 0000

alkhaliji.com

Commercial Bank of Qatar

4449 0000

cbq.qa

Doha Bank

4445 6000

qa.dohabank.com

Qatar Development Bank

4430 0000

qdb.qa

Qatar National Bank

4440 7777

qnb.com

Arab Bank Qatar

4438 7777

arabbank.com.qa

Bank Saderat Iran

4441 4646

bsi.com.qa

BNP Paribas

4453 7115

mea.bnpparibas.com

HSBC

4442 4722

hsbc.com.qa

Mashreq Bank

4408 3333

mashreqbank.com/qatar

Standard Chartered Bank

4465 8555

sc.com/qa

United Bank Limited

4444 1314

ubldirect.com

Banking and Finance

Branches of Foreign Banks

Islamic Banks Dukhan Bank*

800 8555

dukhanbank.com

Masraf Al Rayan

4425 3333

Qatar First Bank

4448 3333 qfb.com.qa

Qatar International Islamic Bank

4484 0000

qiib.com.qa

Qatar Islamic Bank 4402 0888

qib.com.qa

alrayan.com

Investment Banks QInvest

4405 6666 qinvest.com

*Previously Barwa Bank; merged with International Bank of Qatar in April 2019

Currency and Exchange Alfardan Exchange 4453 7777 alfardanexchange.com.qa Al Jazeera Exchange 4436 3822 aljazeeraexchangeqatar.com Al Mana Exchange 4442 4226 almanaexchange.com Al Sadd Exchange 4432 3334 Al Amir Street Arabian Exchange 4443 8300 arabianex.com Gulf Exchange 4438 3222 gulfexchange.com.qa/en Travelex Qatar 4443 4252 travelex.qa Unimoni Exchange 4436 5252 unimoni.com/qat Western Union Send money online and via the app, or find a branch at westernunion.com/qa/en

The Banking Network There are over 250 bank branches and 850 ATMs across the country, with most in Doha but also further afield. They are located in nearly all of the malls, hotels, souqs and petrol stations. Visitors can usually access funds in their home accounts by using their ATM cards here, and some allow the withdrawal of USD and Euro – check with the relevant bank(s) for commission or exchange rate fees. Major credit cards are widely accepted. Exchange houses provide remittance services and foreign exchange and are licensed by Qatar Central Bank. There are no exchange control regulations, but movement of money in and out of local accounts is monitored. Account holders may need to provide a declaration of origin for large cash deposits.

The GCCNET system, established by the GCC countries, acts as a single ATM network linking all the GCC point of sale switches – in Qatar this is NAPS (National ATM & POS Switch).

Opening hours: Generally Sunday – Thursday 7:30 am – 1 pm, however many banks have extended branch operations. Check the respective bank's website for up to date timings and locations of branches and ATMs. All day/extended hours: Ahlibank, City Center-Doha: Saturday – Thursday 9 am – 2 pm, Friday 3 pm – 8 pm CBQ, mall branches: Saturday – Thursday 9 am – 2:30 pm/3:30 pm – 9 pm, Friday 3:30 pm – 9 pm Qatar Islamic Bank, Medina Centrale, The Pearl‑Qatar: Sunday – Thursday 11 am – 6 pm Friday: Al Khalij Commercial Bank (al khaliji), City Center-Doha: 4 pm – 9 pm QNB, City Center-Doha, Lagoona Mall and Doha Festival City: 3:30 pm – 9 pm Saturday: QNB, City Center-Doha and Lagoona Mall: 9 am – 2:30 pm/3:30 pm – 9 pm QATAR BANKING, COMMERCE & INFRASTRUCTURE E-GUIDE ©

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marhaba.qa Currency

Four GCC countries support the creation of a Gulf Monetary Union (GMU) – Qatar, Saudi Arabia, Kuwait and Bahrain; the UAE and Oman have withdrawn entry. The GCC Supreme Council in 2008 approved the Monetary Union Agreement and the Statute of the Monetary Council. The headquarters of the Gulf Monetary Council opened in Riyadh in 2013 with monetary union proposed later in the year. Qatar, Kuwait, Bahrain and Saudi Arabia subsequently agreed to establish a unified central bank with currency pegged to the USD. There has been no further action since 2013.

The Banking Sector Overseen by Qatar Central Bank (QCB), the sector comprises a number of regional, foreign and Islamic banks, with eight banks listed on the Qatar Stock Exchange: Ahli Bank, Al Khalij Commercial Bank, Commercial Bank of Qatar, Doha Bank, Masraf Al Rayan, Qatar International Bank, Qatar International Islamic Bank, and Qatar National Bank. State-owned Qatar Development Bank provides financing to SMEs, while QInvest focuses on investment banking, asset management and investing its own capital.

A new loan-to-deposit requirement of 100% came into effect in 2018. The adoption of International Financial Reporting Standard (IFRS) 9 by QCB has strengthened the provision coverage at Qatar’s commercial banks – under the IFRS standard, banks and financial entities have to set aside a certain proportion of profit against losses for unseen reasons. QCB set up the Supreme Emergency Committee in 2018 to monitor the day-to-day activities of financial institutions in the country, addressing emergency matters and easing the flow of work.

Barwa Bank and International Bank of Qatar (IBQ) signed a final agreement in August 2018 to merge the two banks, the first in Qatar's banking history, to create a Sharia-compliant financial institution with more than USD22 bn in assets. The legal merger was completed in April 2019, trading as Barwa Bank, with IBQ products converted to Sharia-compliant equivalents. Barwa changed its name to Dukhan Bank in October 2020.

Both the Institute of International Finance and the Economist Intelligence Unit noted in mid-2021 that Qatar's banking system 'remains resilient' during the COVID-19 pandemic. The ability to fully service its debt obligations is good, thanks to ample foreign reserves and the assets of sovereign wealth fund Qatar Investment Authority (QIA).

June 2020 saw negotiations open for another merger, between Masraf Al Rayan and Al Khalij Commercial Bank (al khaliji). Masraf Al Rayan is Qatar's fourth largest bank and was previously involved as a third bank in the merger between Barwa Bank and IBQ. The two banks entered into a merger agreement in January 2021. Shareholders approved the merger in October, and al khaliji suspended trading in shares. Following the merger, al khaliji's business will be absorbed into Masraf Al Rayan's; the latter will be the remaining legal entity operating in accordance with Islamic Sharia principles. Masraf will become Qatar’s secondlargest bank and the country's largest Islamic bank, according to Moody's.

Under Law No 13 of 2012 Qatar Central Bank and the Regulation of Financial Services, QCB is deemed an autonomous corporate body, with a capital of QAR50 bn and under the direct control of The Amir. It is headed by a governor appointed

by The Amir, and primary goals include financial stability, supporting developmental activities and strengthening the national economy. The law is not just for banks, but includes insurance companies, exchange houses, Qatar Exchange and QFC‑registered entities. In November, Amiri Decision No 65 of 2021 appointed HE Sheikh Bandar bin Mohammed bin Saoud Al Thani as Governor of QCB.

Banking and Finance

The unit of currency is the Qatari Riyal (QAR), divided into 100 Dirhams (Dh), issued by Qatar Central Bank (QCB). It is pegged to the US dollar at a fixed exchange rate of USD1 = QAR3.64.

The fifth series of notes were introduced in December 2020. A new QAR200 note joins the QAR1, QAR5, QAR10, QAR50, QAR100 and QAR500 notes. The old notes cease to be legal tender on 31 December 2021, although the public are able to change the old notes at Qatar Central Bank for another 10 years. Banknotes incorporate security threads, as well as special features for recognition by the blind and visually impaired, and the new QAR500 note features a holographic security thread, the first in the Middle East to do so. Coins remain unchanged at Dh5, Dh10, Dh25 and Dh50.

Qatar Central Bank

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Banking and Finance

Under Law No 13 of 2012, the Financial Stability and Risk Monitoring Committee shall study existing and future risks related to all banking, financial, insurance and stock market activities. The panel works closely with the Ministry of Finance to frame general policies.

The law provides strict penalties for anyone accepting deposits from the public without a valid licence from the banking regulator – violators can face a jail term of up to five years and/or a fine of up to QAR5 mn. For those refusing to accept the legal tender of Qatar, there is a jail term of three years and/or a fine of up to QAR5 mn. Issuing forged currency means 10 years in jail and/or a fine of QAR10 mn. Manipulating accounts incurs a prison term of up to three years and/or a fine of up to QAR200,000.

Regulations in 2013 curbed investment options for local banks. Equities and bonds can account for up to 25% of a bank’s capital and reserves; debt issued by the government and national banks are exempt. There is also a limit on the amount placed with individual companies and unlisted securities: a maximum of 5% of capital and reserves for foreign investments and 10% domestically. Total foreign equities is capped at 15%.

The Qatar Renminbi Centre opened in 2015 and is the first in the region to offer Renminbi (RMB) clearing and settlement, increasing financial connectivity between China, Southwest Asia and the MENA region. The centre provides access to China’s onshore RMB and foreign exchange markets to local financial institutions – Chinese companies have become active partners in Qatar, and the RMB centre will facilitate trade via their agreement with QCB. qatarrmbcentre.com

The Second Strategic Plan for Financial Sector Regulation 2017–2022 QCB, the QFC Regulatory Authority (QFCRA) and the Qatar Financial Markets Authority (QFMA) jointly launched in December 2017 the Second Strategic Plan 2017–2022 for the future of financial sector regulation in Qatar, an extension of the First Strategic Plan 2013–2016. The new plan comprises five main goals: • Enhancing financial sector regulation and promoting regulatory cooperation.

• Developing financial markets and fostering financial innovation.

• Maintaining integrity of and confidence in the financial system.

• Promoting financial inclusion and financial literacy.

• Developing human capital.

The plan aims to create a regulatory framework allowing growth, is 'inclusive and sustainable', promotes innovation and fintech, and successfully tackles cyber-security threats. qcb.gov.qa

Qatar Credit Bureau Bad loans have been reduced since the Bureau started operations in 2011. The centre cannot grant credit facilities to individuals nor impose restrictions on banks. Qatar Credit Bureau provides analytical data and supports banks’ use of advanced techniques in risk management, as well as support sustainable growth of credit in Qatar. It provides banks with information on customers' total exposure in the market and the loans they hold, enabling banks to choose prospective customers. cb.gov.qa

Loans, Bank Charges and Interest Rates

Law No 20 of 2019 on combating money laundering and terrorism financing was issued in September 2019, replacing Law No 4 of 2010, with implementing regulations following in December.

The law is in accordance with the latest standards adopted by major international organisations including Financial Action Task Force, highlighting Qatar's regional role in setting standards in its legal and regulatory framework for combating money laundering and terrorism financing.

Loans: Under QCB rules, the default period for a substandard loan is three months or more, for a doubtful loan six months, and a bad loan nine months. Banks have to closely monitor loan disbursement and forward reports on customer creditworthiness to QCB. There is also a duty to track and follow defaulting customers and seek resolution – if this fails, they will take legal action.

Non‑payment of loans could lead to a travel ban for Qatar and possibly the GCC.

Fintech regulations Noting the increasing growth and popularity of fintech, QCB has established the Fintech Regulatory Sandbox and launched Qatar FinTech Hub (QFTH) as a means of boosting financial innovation, one of the objectives of its strategic plan (see below). The regulatory sandbox, co-founded by Qatar Development Bank, invites entities to safely live-trial their services in the digital payment services space. fintech.qa

QCB has imposed ceilings on the amounts a bank can lend as a personal loan to citizens and expatriates. Banks cannot lend more than QAR400,000 to an expatriate, over a maximum repayment period of 48 months, against a maximum 50% of total monthly salary, and at a maximum 6.5% interest rate. For Qatari citizens there is a maximum loan of QAR2 mn over a maximum 72 months. Banks cannot use post‑dated cheques for the loan value.

QATAR BANKING, COMMERCE & INFRASTRUCTURE E-GUIDE ©

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marhaba.qa Mortgages: Check with each bank first.

Documents usually required: Valuation Report from an approved real estate agent; salary assignment letter if the home loan is the first facility with the bank; ID for Qataris or passport and valid residence card for expatriates; copy of the Title Deed and map; and building insurance cover.

Discuss provision for life assurance against any loan amount taken and consider updating your will.

Bank charges: Banks must prominently display all interest rates on personal loans and credit cards, as well as publish them in local newspapers.

Interest rates: Announced by QCB on overnight deposit and loan transactions between QCB and local banks via the Qatar Money Market Rate Standing Facility, a monetary instrument through which local banks can request access to loan and deposit facilities with QCB at daily interest rates.

QCB and Bloomberg jointly launched the first Qatar interbank offer rate (QIBOR) fixing in 2012. This is the interest rate charged by banks in Qatar for interbank transactions.

As there is fixed parity between the Qatari riyal and the US dollar, QCB short term interest rates policies are subordinated to the fixed exchange rate policy, making QCB overnight interest rates closely related to its USD counterpart, the Fed Funds Rate. In March 2020 the overnight lending rate was decreased to 2.5%, and the deposit rate and the repo rate to 1%.

Accounts Standard bank facilities: Debit/credit cards, standing orders, money transfers, personal loans, vehicle loans, and mortgages on current and savings accounts (including joint accounts). Some accounts offer longer terms, higher interest and the option to save in USD, GBP and Euros.

24/7 telephone and internet banking services and apps offer additional options, while some services such as ordering a cheque book can be accessed via the bank's ATM network. With mobile banking a customer relations officer can visit you at home or work to assist with banking requirements. Most banks offer premium banking services.

International bank account number (IBAN): Adopted in January 2014 as a standard for identifying and numbering all bank accounts in Qatar, and effective from May 2014.

The system applies to all accounts in banks operating in the country, found on bank statements

Opening an Account: Documents usually required: • A valid residence card or work visa. A worker’s dependants (eg spouse and family) can open an account but may require his permission as he is their sponsor (check with the individual bank).

• Valid passport.

• For current accounts, a letter from the employer/ sponsor confirming the monthly salary in Qatari Riyals, with the company’s official stamp. You may have to transfer your salary to the new account but check with the individual bank.

• Some banks may ask to see your tenancy agreement to establish your residential address.

• Take copies of these documents, along with identity photographs. Ask for photocopies of any documents signed.

Banking and Finance

Credit cards: A maximum 12% annual interest rate and usually only issued when customers transfer their salary or have an adequate deposit at the bank.

or online in account details. The existing account number is not replaced; additional characters appear in front of the account number to form a 29‑character IBAN. All incoming and outgoing transfers to and from banks and financial institutions must use IBAN.

The Wage Protection Scheme (WPS) is an electronic salary transfer system that ensures workers are paid as per their employment agreement, initiated by the Ministry of Labor and QCB. Employees therefore need a local bank account in order to receive their wages from the employer.

Cheques: A chequebook can be issued with a current account. They are not widely accepted for instant payment; post‑dated cheques are commonly used for house rental payments. The onus of responsibility is on the banks not to encash cheques before the designated date.

Issuing a cheque without the necessary funds in your account is a serious criminal offence and the bank or creditor may notify the police, leading to possible prosecution.

Punishment for causing a cheque to bounce due to insufficient funds can be severe: jail terms of between three months and three years, and/ or fines of between QAR3,000 and QAR10,000.

Cases being filed are on the rise in the country, mostly for cheques for large amounts, and the Capital Security Department records all cases electronically to speed up the process.

Under new QCB instructions, the Qatar Credit Bureau lists individuals and companies who have issued at least one bounced cheque. Banks are not obligated to issue new cheque books to these customers unless the amount has been settled and their name removed. Banks must also report any customer who has issued a bounced cheque. ©

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Banking and Finance

Credit cards: Widely available with all the usual privileges, with the credit limit determined by the cardholder's salary or savings balance. Family members may also be eligible for a card. Check at the time of applying for issuance and renewal fees, conversion charges, and payment options.

Customers should notifiy their bank when travelling overseas and wishing to use their credit/debit cards. Since 2014 all card transactions made using the magnetic stripe inside and outside of Qatar will be declined. However, as certain countries (eg the US, India and the Philippines) still use the magstripe for transactions, customers should activate their card before travelling.

Complaints: Unresolved consumer complaints can be made online to QCB's Consumer Protection Department. qcb.gov.qa

Offshore Banking Offshore banking can be a secure anchor for an expat's finances while out of their home country. Check with local banks for availability of international bank accounts in USD, GBP, or Euros.

Financial Services and Insurance Financial services are provided by entities registered with the Qatar Financial Centre (QFC).

Insurance products are widely available from local and international companies (see Living in Qatar).

QCB continues to regulate and develop the insurance market as per international standards, in line with the Second Strategic Plan for Financial

Islamic Finance Current Islamic institutions include Dukhan Bank (Dukhan Bank was formerly Barwa Bank, which merged with and International Bank of Qatar), International Islamic, Masraf Al Rayan and Qatar Islamic Bank. Qatar First Bank – regulated by the QFC Regulatory Authority – is the first independent, Sharia compliant investment bank.

Banks were required by QCB to separate their Islamic and conventional lending operations by 31 December 2011. Islamic banking by other conventional banks is now barred from Qatar's market. QCB took this action due to certain supervisory and monetary issues, namely that holding both Islamic and non‑Islamic deposits incurs different risks and reporting methods.

Law No 13 of 2012 requires that Islamic banks must have a Sharia board with at least three qualified members approved by the shareholders.

Neither they nor members of their family may be employed or hold shares in the entity.

Institutions and services must abide by regulations set out in the Holy Quran and Sharia (Islamic Law). Charging riba (interest) is haram (forbidden).

Islamic banks charge fees for services and engage in profit sharing, enabling them to offer comparable facilities to those of conventional banks. Under a mudharabah (profit sharing) contract, the rabbul maal (owner of the money) authorises the bank to invest funds as per Sharia to make justifiable returns. Other concepts of Islamic banking include wadiah (safekeeping), musharakah (joint venture), and ijarah (leasing).

Bai (saving) is halal (allowed). m

According to Qatar Central Bank's 2020 Annual Report, the demand for electronic payments is expected to increase substantially during FIFA World Cup Qatar 2022™. The report also stated that over the last few years, there has been a sharp increase in the use of electronic payment methods for retail transactions in Qatar, and a decline in paper-based instruments such as cash and cheques. This has been attributed to banks and other financial institutions providing contactless card payments in stores and online, particularly in light of the COVID-19 pandemic where consumers have needed to avoid cash and contact with payment terminals.

QATAR BANKING, COMMERCE & INFRASTRUCTURE E-GUIDE ©

Checked & Updated October 2021

Under Law No 13 of 2012 QCB and the Regulation of Financial Services, only local insurance providers are permitted to underwrite any kind of risk against properties in Qatar. Decision No 1 of 2016 issued by the Governor of QCB provides instructions related to licencing, regulation and controls, risk management, accounting, and other requirements. Listed companies must have capital in excess of QAR100 mn or a risk-based capital, while unlisted companies must have capital higher than that set by QCB or their risk-based capital.

Sector Regulation 2017–2022. Decision No 7 of 2019 sets out further instructions for licensing, organising and supervising the services of supporting insurance providers. It sets out the competencies and expertise for each supporting insurance provider, the nature of the work, areas of responsibility and functions, and the establishment of professional and ethical codes of conduct.

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Economy mitigate the impact of the COVID-19 pandemic and to rationalise spending. It has also been able to support any affected sectors and focus spending on healthcare, education and infrastructure.

Economic growth and gross domestic product (GDP)

Economy

One of the main aims of Qatar National Vision 2030 is to diversify the economy and reduce dependence on the hydrocarbon industries.

The economy has weathered the impact of both the COVID-19 pandemic and the blockade that was imposed on 5 June 2017, with positivity after borders started reopening between Saudi Arabia and Qatar following the AlUla Declaration in January 2021. Hydrocarbon exports have not been affected.

A total of QAR72.1 bn has been allocated for major projects (down 19.9%). This is for new and ongoing projects in various sectors, those related to the FIFA World Cup Qatar 2022 TM, and for citizens’ land development projects and related infrastructure. There is also a focus on enhancing food security and developing infrastructure in the Economic, Industrial and Logistics Zones to support economic diversification and growth.

While the full details of the reconciliation accord between the blockading states is not publicly known, the International Monetary Fund (IMF) has stated that 'any improvement in terms of opening up borders, improving economic relationship will provide an additional potential for growth.'

The ministry has drawn up estimates for the State Budget for the years 2021 to 2023 and all ministries and government agencies are committed to these expenditure ceilings, including expenditure on projects under the Second National Development Strategy (2018–2022).

The quarterly GDP at current prices in Q2 2021 is estimated at QAR156.31 bn, an increase of 36.1% year-on-year (y-o-y) and an increase of 5.4% against Q1 2021.

Under the 2021 Budget, allocations for the main sectors are: • Health: QAR16.5 bn for the expansion of Hamad Medical Corporation facilities and new Primary Health Care Centres.

• Education: QAR17.4 bn for the development and expansion of schools and education institutions.

• Culture and Sports: QAR13.0 bn towards completing football stadiums.

• Municipality and Environment: QAR25.4 bn to develop major infrastructure projects, provide water and electricity networks, and upgrade the road network.

• Transportation and Communications: QAR11.5 bn towards expansion of Hamad International Airport, completing Doha Metro and the Lusail Tram System, and a number of IT projects.

The quarterly GDP at constant prices shows an increase of 4.0% in Q2 2021 y-o-y and a decrease of 0.3% against Q1 2021.

Export, Import and Trade surplus In Q2 2021, the foreign merchandise trade balance surplus (the difference between total exports and imports) was QAR46.1 bn, up from QAR15.5 bn y-o-y.

The budget The State Budget for 2021 was announced in December 2020 and has been based on a conservative average oil price of USD40 a barrel.

Revenue is estimated at QAR160.1 bn (down 24.1% on the previous budget) and expenditure at QR194.7 bn (down 7.5%), giving a budget deficit of an estimated QAR34.6 bn. The Ministry of Finance (MOF) will cover this deficit from available resources or via debt instruments in domestic and international financial markets, as required.

The ministry's fiscal policy has to date managed to QATAR BANKING, COMMERCE & INFRASTRUCTURE E-GUIDE ©

Inflation and cost of living The PSA issues the monthly Consumer Price Index (CPI), used to calculate inflation rates in Qatar. The CPI in August 2021 was 99.03 points, an increase of 0.3% m-o-m and an increase of 2.95% y-o-y.

Population and the labour force Total population in September 2021 was 2,636,078: males 1,886,323; females 749,755.

The Labour Force report for Q1 2021 showed a decrease in salaried workers (2,169,295 to 2,046,730 y-o-y). The unemployment rate was 0.2%, up from 0.1% in Q1 2020. m

Checked & Updated October 2021

Total exports of goods was QAR70.9 bn, an increase of 87.4% y-o-y and an increase of 10.8% against Q1 2021. Imports were valued at QAR24.8 bn, an increase of 11.2% y-o-y and up 3.1% against Q1 2021. Asia was the principal destination of Qatar’s exports and the first origin of imports, 72.5% and 39.7% respectively, followed by the EU (11.3% and 31.8%), and the GCC (8.7% and 3.3%).

Sources of information: International Monetary Fund (IMF); Planning and Statistics Authority (PSA); Qatar Central Bank (QCB); Ministry of Finance (MOF)

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Commerce

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Qatar is a member of the World Trade Organisation and its trade policies create a competitive international trading market. The government supports the growth and success of businesses in a bid to diversify the economy. Qatar is a member of the Gulf Cooperation Council (GCC), which also includes Bahrain, Kuwait, Oman, Saudi Arabia and the United Arab Emirates. Following the blockade by Saudi Arabia, the UAE, Bahrain and Egypt, Qatar strengthened relations with a number of other countries such as Turkey, Oman, Kuwait, and India, and increased trade routes to mitigate exports and imports.

Organisation

Telephone

Online Map

American Chamber of Commerce in Qatar

4020 6038

amchamqatar.org

C4

Communications Regulatory Authority

103/4406 9938

cra.gov.qa

C4

Department for International Trade (UK)

+44 (0)20 7215 5000

gov.uk

4445 7457

customs.gov.qa

C4

German Business Council Qatar

4431 1152

gbcqatar.com

C4

Hukoomi (Qatar e-Government)

109/4406 9999

gov.qa

C4

Mada Assistive Technology Center

4459 4050

mada.org.qa

C4

Ministry of Commerce and Industry

16001

moci.gov.qa

A4

* Ministry of Education and Higher Education

155

edu.gov.qa

C4

16020/4446 1444

mof.gov.qa

C4

Ministry of Justice

137/4021 5555 moj.gov.qa

C4

* Ministry of Municipality and Environment

184/4434 8888

mme.gov.qa

C4

4407 0000

moph.gov.qa

C3

16016/4045 1111

motc.gov.qa

C4

4495 8888

psa.gov.qa

C4

Ministry of Finance

Ministry of Public Health Ministry of Transport and Communications Planning and Statistics Authority Public Works Authority (Ashghal) Qatar Australia & New Zealand Bus Assoc

Commerce

General Authority of Customs

188/4495 1111 ashghal.gov.qa C4 officemanager@qanzba.org qanzba.org

4496 2000

C4

Qatari Businessmen Association

4435 3120

qataribusinessmen.org C4

Qatari Business Women Association

4420 9109

See their Facebook page

Qatar Chamber

4455 9111

qatarchamber.com

D4

Qatar Development Bank

4430 0000

qdb.qa

D4

Qatar Exchange

4433 3666

qe.com.qa

C4

Qatar Financial Centre (QFC)

4496 7777

qfc.qa

C4

Qatar Intl Court & Dispute Resolution Centre

4496 8225

qicdrc.com.qa

C4

qbbf.com

Qatar Investment Authority

4499 5919

qia.qa

A4

Qatar National Tourism Council

4406 9921

visitqatar.qa

A4

Qatar Professional Women's Network

qpwn.org

Qatar Science & Technology Park

4454 7070

qstp.org.qa

C2

QFC Regulatory Authority

4495 6888

qfcra.com

C4

Checked & Updated October 2021

Qatar British Business Forum

* These ministries were restructured in October 2021 and at the time of going to press, new contact details were not available. Embassies can provide valuable information on commercial activities and can connect you with their business council/chamber of commerce – see the Discovering Qatar section for contact details. Translation services can be found in Day to Day Qatar in the Living in Qatar section. ©

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Investment and Trade Qatar has one of the fastest growing global economies thanks to the third largest concentration of natural gas reserves in the world. This along with recent legal liberalisation, economic diversification and an expanding economy provides many investment opportunities for non‑Qataris. Profits can be repatriated as can proceeds of sale and capital on liquidation. Major investment sectors are construction, oil and gas, education, and financial and legal services, with opportunities in ICT, sport, leisure and healthcare.

Incentives The government welcomes foreign participation in joint ventures, with incentives for investment:

Investment and Trade

• A developed infrastructure and ICT network.

• Easy access to world markets with good sea and air connections, continuously being upgraded.

• Natural gas, electricity, water and petroleum at subsidised rates.

• Land for industrial development in the Industrial Area near Doha for a nominal rent of QAR1 per square metre per year.

• Loans available from Qatar Development Bank.

• Fixed parity between the Qatari riyal and US dollar (USD1 = QAR3.64).

• No customs duty on the import of plant machinery; exemption from export duty.

• Foreign capital is protected against expropriation (although the State may acquire assets for public benefit on a non-discriminatory basis, provided the full economic value is paid for the asset).

• Subject to Ministerial approval, a foreign company performing a specific contract in Qatar may set up a branch office if the project facilitates the performance of a public service or utility.

• A non-Qatari company operating in Qatar under a Qatari government concession to extract, exploit or manage the State's national resources is exempt from the Foreign Investment Law. In practice this covers all large oil and gas companies.

• Five-year renewable tax holidays (based on government approval).

• No income tax on the salaries of expatriates.

• Tax on the profits of foreign-owned stakes in Qatari companies applied at a flat rate of 10%.

• Employment and immigration rules enabling the import of skilled and unskilled labour.

Investment Regulations There are primarily two regulatory jurisdictions for foreign investors seeking to conduct commercial business in Qatar: the regulations of the State of Qatar, and the rules and regulations of the Qatar Financial Centre (discussed in more detail below). Qatar also recently introduced new free zones designed to encourage certain bespoke investment vehicles to bring their businesses to the region.

Non-Qatari investors may only invest in Qatar in accordance with Foreign Investment Law No 1 of 2019: • In January 2019 the Amir promulgated the new foreign investment law of 2019. According to the new law, foreign investors are permitted to hold more than 49% in commercial companies with special permission from the Minister of Commerce and Industry (MOCI) (subject to some prohibitions set out below). Under the former law such increased ownership was limited to those businesses operating in a specific set of sectors.

QATAR BANKING, COMMERCE & INFRASTRUCTURE E-GUIDE ©

• Non-Qatari investors are prohibited from being appointed as commercial agents under Commercial Agencies Law No 8 of 2002, but the former prohibition preventing foreigners from investing in real estate businesses has been removed under the new Foreign Investment Law. Approval from the Council of Ministers is required for foreign investment in banking and insurance.

• A company formed by a non-Qatari entity with the government or a government entity ('Article 207 Company') may be subject to special rules and exemptions from the Commercial Companies Law No 11 of 2015.

• All international companies securing mega infrastructure development work must share at least 30% of the contract with local entities.

• Law No 7 of 1987 governs the practice of commercial activity by GCC citizens in Qatar, and was amended in April 2017 under Law No 6 of 2017. GCC citizens as individuals or legal personalities can practice retail and wholesale trade in Qatar. However, the GCC citizen engaging in the activity must be directly responsible for it.

Those undertaking retail business must do so via direct sale to customers in a shop, and those in wholesale trading are required to import and export the goods. NB: following the signing of Al Ula Declaration regarding the blockade against Qatar, legal advice is recommended for this type of commercial activity.

• Law No 12 of 2020 regulating the partnership between the public and the private sector became law in July 2020, as per one of the following regulations: Allocation of land through a rental or usage licence, for development by the private sector; build-operate-transfer (BOT); build-transfer-

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marhaba.qa operate (BTO); build-own-operate-transfer (BOOT); operations and maintenance (OM); or any other form adopted by the Prime Minister, upon the proposal of the relevant minister. The Government or other administration may, on its own initiative or at the suggestion of the private sector, identify a project for its implementation through partnership.

Choosing A Business Structure

• Incorporating as a company under the Commercial Companies Law which allows full access to Qatar's market and to work on an unlimited number of projects. A Qatari partner is required to own 51% of the capital of the company, except in the circumstances mentioned above. Various exemptions are available to attract foreign capital.

• Obtaining a licence for a branch office or trade representation office which does not require a Qatari partner. The licence for a branch is granted in respect of a specific project for a government client. The existence of the branch office is dependent on the duration of a particular project: once the project is completed, the branch office must close unless it has secured additional qualifying projects. Branch offices are only permitted to perform a specific contract and may not engage in general commercial activities with the larger local market. The branch will be fully taxable unless granted a special exemption.

Trade representation offices are only permitted to market goods and services; they are not permitted to engage in commercial activities.

• Under Law No 7 of 2017 companies in GCC states can now establish companies in Qatar, subject to having had a commercial registration in one of the GCC states for at least three years, and be fully owned and managed by a GCC citizen.

Refer to the preceding caveat in Investment Regulations regarding the blockade.

• Appointing a commercial agent means a nonQatari company does not establish a presence in Qatar; instead a 100% owned Qatari entity or Qatari national is appointed as an agent to market the relevant goods and services. Commercial agencies must be exclusive and registered in order to be afforded the protections provided under the Commercial Agents Law No 8 of 2002; non-registered distributorships are subject to the Commercial Law No 27 of 2006.

• There is a separate regime for establishing an entity in the Qatar Financial Centre (QFC).

° Um Alhoul, a 30 sq km site adjoining Hamad Port, south of Al Wakra – offers easy access to the water for maritime and logistics companies, and is a gateway for imports and exports. A port and marine cluster, 'Marsa', is able to support a wide range of marine businesses. ° Ras Bufontas, a 4 sq km site adjacent to Hamad International Airport – a technology and manufacturing hub for businesses requiring international connectivity.

• The Cabinet has added some areas to the Free Zones Law, including Msheireb Downtown Doha.

• Under Ministerial Decision No 242 of 2016, the MOCI will grant licences for small businesses at home conducting certain commercial activities including sewing, events services, electronic services, business services, cosmetic activities and food activities. A single license is issued per activity, with an annual fee, and cannot involve direct sales to the public from the residence.

Decision No 163 of 2018 cancelled the requirement for signage at the house entrance.

Investment and Trade

To conduct business in Qatar on a regular basis, foreign investors are required to establish or register a legal presence from the following options:

This allows 100% foreign ownership and aims to attract international financial services companies and some professional support companies to invest in Qatar. The number of permitted activities in which a QFC firm may engage has been increased to include a broader spectrum of investment options.

• The Qatar Science and Technology Park, a free zone in Education City, allows companies to engage in research and development, again with full foreign ownership.

• At least one new free zone has started accepting applications and international investors. Free zones include:

Company Structures According to the Commercial Companies Law No 11 of 2015, the following structures are permitted: • Limited liability companies (LLCs) – subject to the Foreign Investment Law can now be established by a single person owning the entire share capital (previously the minimum number of shareholders was two). This replaces the single person company under the old companies law.

Shareholders can determine the share capital of an LLC (previously the minimum share capital was QAR200,000 divided into equal shares).

• Article 207 company – a shareholding company where the Qatari government, a government owned entity or a public corporation must own 51% of the shares, unless the Council of Ministers consents otherwise. Certain provisions of the Commercial Companies Law are excluded from the company’s Articles of Association. ©

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marhaba.qa • General partnership – joint partners administer the affairs of the company, and trustee partners contribute to the company's capital.

• Simple limited partnership – a local entity formed by two or more Qataris.

Investment and Trade

• Limited partnership with shares – formed by joint partners, liable for the debts, or trustee partners, whose liability is limited to the share value.

• Unincorporated joint venture – formed by two or more people pursuant to specific contractual arrangements. The unincorporated joint venture does not have a separate legal personality distinct from its partners.

• Joint stock company (public or private) – the capital is divided into shares with a minimum of five shareholders. Permissible foreign share ownership depends on the type of company and is subject to Qatar Financial Markets Authority approval.

• Holding company – incorporated as a joint stock or limited liability company. The holding company must hold at least 51% of the shares in each of the companies under its control.

Commercial Registration (CR) Virtually all companies use a government liaison officer or facilitator to assist with establishment formalities. Under Qatar Commercial Registration Law No 25 of 2005, companies must be approved or registered by one or more of the following entities: Ministry of Commerce and Industry (MOCI); Qatar Chamber; Ministry of Municipality; Ministry of Interior; Importers' Register/ Contractors' Register; and QFC Authority (where appropriate). Visit moci.gov.qa for details.

Amendments were made under Law No 20 of 2014 in order to expedite registration procedures, followed by Decisions 30 and 31 of 2019: • The MOCI must respond to the applicant's request for registration on the same day.

• Reasons must be given for rejected applications.

The Minister must accept or reject an appeal of the Ministry's decision within 15 days.

• Incorporated branches must be in the exact name of the principal company, and are not considered separate legal entities.

• Amendments have also been made to penalties for those operating commercial premises without a CR, misusing the CR, and providing false/ wrong documents.

• Renewal is now possible online, with the relevant fees, at gov.qa QATAR BANKING, COMMERCE & INFRASTRUCTURE E-GUIDE ©

Export and Import Exports According to the Planning and Statistics Authority (PSA), Qatar’s total exports (including exports of domestic goods and re-exports) in Q2 2021 amounted to QAR70.9 bn, for such things as mineral fuels, lubricants and chemicals, mainly to Asia. There are no duties on exports.

Imports According to PSA, imports in Q2 2021 totalled QAR24.8 bn, for crude materials, manufactured goods, chemicals and related products and mineral fuels, from Asia and the EU. Import tariffs Importers of goods into Qatar must sign up to the Importers' Register and be approved by Qatar Chamber (QC). Customs duty and legalisation fees are levied on all commercial shipments, irrespective of its value. All goods imported into Qatar are subject to customs duties, based on a percentage value of goods (usually 5%), or on a 'per unit' basis. Effective from May 2021, incoming parcels and personal shipments with a cost, insurance and freight (CIF) value exceeding QAR1,000 is liable to 5% customs duties (previously QAR3,000).

Customs duty tariffs fall under these categories: • Personal effects and household items, imports of charitable organisations and returned goods, diplomatic and military exemptions, merchandise for ‘free zones’ and duty-free shops – exempt.

Goods in transit may be accepted at designated stations without duty.

• General cargo, eg clothing, perfumes, cars, electronic appliances and devices – 5%.

• Steel – 20%.

• Urea and ammonia – 30%.

• Cigarettes, tobacco and its derivatives – 100% or QR1,000 per 10,000 cigarettes, whichever is higher.

Law No 25 of 2018 on Excise Tax came into effect 1 January 2019. All businesses that import, produce or store/stockpile excise goods must comply with the requirements stipulated under the law. The following goods are subject to Excise Tax: • Tobacco products – 100% • Carbonated drinks (non-flavoured aerated water excluded) – 50% • Energy drinks – 100% • Special goods – 100% In accordance with the Gulf Cooperation Council (GCC) Customs Union, more than 800 goods are exempted from customs duties, alongside exemptions granted to certain bodies and persons under Customs Law No 40 of 2004. There are fees for the attestation of the Certificate of Origin (from QC) and a tariff for the attestation of the Commercial Invoice, based on shipment value.

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marhaba.qa Qatar implemented the World ATA Carnet Council in 2018, an international customs system with nearly 80 member countries, permitting the dutyfree and tax-free temporary import and export of goods for up to one year. The system is being implemented by QC alongside ICC Qatar and the General Authority of Customs (GAC).

New regulations were introduced in 2013 to prevent fake products from entering the market.

All general goods must have non‑removable marking of their place of manufacture to be eligible for customs clearance. This applies to both air and sea freight. The import of vehicle tyres, spare parts and electrical home appliances has to be based on a 'certificate of conformity' issued by the authority concerned. All general cargo for customs clearance must be backed by an original commercial invoice on the shipper’s letterhead, with stamp and signature. They also require attestation by QC. The packing list of each consignment must have the number of pieces, weight and volume.

GAC requires all importers to obtain an HS Code, an international system for classifying traded products. This must be linked to the trader's Commercial Registration and import licence.

There are few restrictions on bringing personal effects into Qatar. However, anyone (importers, exporters or travellers) holding local or foreign currency, precious metals or jewellery worth more than QAR50,000 must complete a customs declaration form upon entry into or departure from the country. Banned imports include alcohol, pork and e‑cigarettes. The import of pets is allowed, although certain breeds are not permitted. NB: Following the signing of Al Ula Declaration regarding the blockade against Qatar, commercial cargo movement has resumed between Qatar and Saudi Arabia.

Points of entry Imports and exports are transitted via Hamad International Airport, Hamad Port, Doha Port, Mesaieed Port, Ras Laffan and the Salwa Overland Terminal.

Taxation There are no personal taxes or statutory deductions from salaries in Qatar. Under Law No 24 of 2018 on Income ax ('the New Tax Law') and its executive regulations, companies must pay tax on all profits at a flat rate of 10%. This is on all

Tax exemption applies for certain activities, and companies listed on the Qatar Exchange are also exempt, but companies are required to pay a 2.5% contribution to charitable and cultural activities.

Taxpayers need to register with the Public Revenue and Taxes Department. Auditors must be a firm based in Qatar and registered with the MOCI or approved by the QFC. In January 2016 GCC member states agreed to introduce VAT, tentatively set for early 2018. The Council of Ministers approved the Qatar Value Added Tax (VAT) Law and Excise Tax Law and Executive Regulations in May 2017, based on the unified GCC agreement. To date, only the Excise Tax has been implemented.

Intellectual Property Under Law No 9 of 2002, a trademark registration is valid for 10 years from the date of filing the application, renewable for further consecutive periods of 10 years. The court may be ordered to cancel a trademark registration if the owner fails to use it in Qatar within five consecutive years from the date of the registration.

Investment and Trade

Import regulations All commercial shipments are examined by GAC prior to clearance. The Qatar Electronic Customs Clearance Single Window (Al Nadeeb) is a one-stop e‑government system to facilitate international trade. 4445 7457, customs.gov.qa

corporate income from sources in Qatar, whether the entity has a physical presence in Qatar or not.

The share of the profits due to a Qatari or GCC partner is exempt from tax.

Copyright Law No 7 of 2002 gives protection to authors of original literary and artistic works.

Protected works include books, lectures, musical works, photographic works and computer software.

The economic rights of the author/owner are protected during the lifetime of the author, and for 50 years after his death.

Patent Law No 30 of 2006 provides for the registration of inventions and foreign patents at the Qatar Patent Office, and implementing regulations were issued by the Minister of Commerce and Industry under Decision No 153 of 2018.

Qatar announced its accession to the Patent Cooperation Treaty in 2011. The Law of Trademarks in the GCC Countries was promulgated under Law No 7 of 2014, and the same year Qatar signed a cooperation agreement with the World Intellectual Property Organisation (WIPO) to jointly improve services. There is an electronic trademark registration service via the MOCI website to expedite submissions and preserve IP rights.

Law No 10 of 2020 on the protection of industrial designs was issued in April 2020. This will offer more comprehensive protection for designs once the implementing regulations are issued, as previously protection was sought by publishing cautionary notices in Qatari newspapers. ©

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Regulatory Bodies and Government‑owned Entities Ministry of Commerce and Industry (MOCI) A4 Creates commercial policy for both private and public sectors in order to boost regional and international trade relations and support the development of businesses across the country.

The ministry is a primary resource for information when opening a company and investing in Qatar, while Invest In Qatar is a useful tool for local and foreign investors and investment opportunities. moci.gov.qa, invest.gov.qa Ministry of Finance (MOF) C4 Prepares the State Budget and proposes objectives and tools of financial policy in line with Qatar National Vision 2030. The General Authority of Customs monitors the import of all goods, and the e-services of the Government Procurement Portal include tenders and company registration. mof.gov.qa, customs.gov.qa, monaqasat.mof.gov.qa *Ministry of Municipality and Environment C4 Launched the Foras investment portal in August 2021 to promote PPPs, currently for environmental, waste treatment, recycling and sustainability projects. mme.gov.qa (*now Ministry of Municipality and Ministry of Environment and Climate Change) Qatar Chamber (QC) D4 Provides a wide range of services and support to local and international businesses, including certificates of origin (COO) for import/export and ATA Carnet, acting as liaison for international business delegations, and providing training courses. QC services are also available to QFC‑licensed firms. The Qatar International Center for Conciliation & Arbitration (QICCA) was established in 2006 as part of QC to act as an efficient and swift mechanism to settle disputes between Qatari enterprises, or between national companies and foreign counterparts. qatarchamber.com, qicca.org Qatar Development Bank (QDB) D4 Has an active role in the economic and industrial development of Qatar in the private sector by promoting and financing SMEs. The bank is 100% owned by the State of Qatar and provides a wide range of financial and advisory products, such as funding, incubation, and support services. qdb.qa Qatar Financial Markets Authority (QFMA) C4 An independent regulatory authority supervising the financial markets and firms authorised to conduct activities related to securities in or from Qatar, and empowered to exercise regulatory oversight and enforcement over the capital markets. QFMA was granted full membership of the International Organisation of Securities QATAR BANKING, COMMERCE & INFRASTRUCTURE E-GUIDE ©

Commissions in 2013. New legislation in 2014 modernised the legal infrastructure, while listing rules and a governance code for funds were issued in 2019. qfma.org.qa Qatar Investment Authority (QIA) A4 The country's sovereign wealth fund is a major investor in Qatar, owning 50% of Qatar National Bank, 55% of Ooredoo, and 100% of Katara Hospitality, and is a key shareholder in three local Islamic banks. Subsidiaries include: Qatar Holding, a global investment house established in 2006 and licensed by the Qatar Financial Centre Authority; Qatari Diar Real Estate Investment Company, which oversees the Lusail City development among other projects; and Qatar Sports Investments, which owns football club Paris Saint‑Germain.

QIA has approximately USD300 bn in assets, although the fund does not publish its holdings.

Following a restructure in 2016, USD100 bn of investments in local companies were placed in a new unit, abandoning the Qatar Holding name. The new internal division, Qatar Investments, is known as QIA internationally.

QIA has reduced its direct holdings in Credit Suisse Group AG and Rosneft PJSC, and sold its share in Tiffany & Co in January 2021 to LVMH for USD1.5 bn. New investments include retail properties in New York City with Crown Acquisitions, and in Los Angeles with Douglas Emmett. The fund aims to invest USD45 bn in the US, GBP5 bn in the UK, and USD1 bn in sub-Saharan Africa. Following five years of redevelopment, 52 Champs-Elysées in Paris relaunched in 2019, home of the famous Galeries Lafayette. qia.qa Qatar Investments Portfolio (unconfirmed): 52 Champs-Elysées, Adecoagro, Agricultural Bank of China, Asia Square Tower 1, Banyan Tree, Barclays PLC, Barwa Bank, Brookfield Property Partners, Canary Wharf Group, Claridge's/The Berkeley/ The Connaught hotels, Credit Suisse Group AG, Deutsche Bank AG, El Corte Ingles SA, Empire State Realty Trust, Fahrenheit, Glencore PLC, Grupo Santander Brasil, Harrods, Hassad Food, Heathrow Airport Holdings, Hochtief, Iberdrola SA, J Sainsbury PLC, Kahramaa, Lagardère, Le Brantano!, Le Tanneur, Lifestyle International Holdings Ltd, London Shard Tower, London Stock Exchange, LVMH, Masraf Al Rayan, Mowasalat, National Grid PLC, One Ocean Port Vell, Ooredoo, Oryx Midstream Services (Oryx), Pavilion, Pulkovo Airport, Qatar Exchange, Qatar Islamic Bank, Qatar International Islamic Bank, Qatar National Bank, Rosneft PJSC, Royal Dutch Shell, Siemens, Societe Fonciere Lyonnaise SA, The Bürgenstock Selection, Total SA, Turkuvaz, Valentino Fashion Group SpA, Vente‑Privée, Vivendi, Volkswagen AG, Xstrata PLC.

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marhaba.qa Qatari Diar Real Estate Investment Company A4 Projects include: Lusail City (Qatar); Chelsea Barracks and East Village (UK); and City Center DC (US). The Qatar Railways Development Company (Qatar Rail) was formed to oversee the Qatar Rail Development Programme: the Doha Metro, the Long Distance Rail, and the Lusail Tram. qataridiar.com

Qatar Financial Centre (QFC) The QFC C4 was established in 2005 to attract international financial institutions and firms to establish business operations in a 'best‑in‑class' international environment. There are two independent bodies: the QFC Authority (QFCA) and the QFC Regulatory Authority (QFCRA). To operate in or from the QFC, a firm needs to be incorporated or registered by the QFC Companies Registration Office, licensed by the QFCA, and for regulated activities, authorised by the QFCRA. Advantages of establishment in the QFC include: • A separate legal, regulatory, tax and business environment.

• 100% foreign ownership, 100% repatriation of profits, and 10% corporate tax on locally sourced profits.

• A double taxation avoidance agreement network with more than 80 countries.

More than 1,100 local and international firms are currently registered, surpassing the 2019 target of 1,000 active firms by 2022. Companies comprise investment and private banking entities, and (re)insurance and asset management firms (each of which is regulated); and consultancy service providers, law firms and financial services recruitment firms (which are non‑regulated).

The QFC is taking a major step in diversifying key economic sectors eg digital, financial services, sports, and media. An attractive incentives programme is available to multinational companies, offering free offices, highly-competitive tax incentives, and seed capital to cover five years of operating expenses in return for a 10-year commitment.

The QFCA is the commercial arm of the QFC, leading the expansion of Qatar’s financial services sector and developing relationships with the regional and global financial community. The QFCA's strategy focuses on the creation of a global business hub for three core markets – Asset Management, Reinsurance and Captive Insurance.

The QFCRA is the independent regulatory body of the QFC, overseeing all firms conducting financial services in or from the QFC, as a combined banking, insurance and markets regulator. In 2012, the QCB Governor took over the chairmanship of QFCRA, as part of a plan to establish a single financial regime, comprising QFCRA, QFMA, QE, QCB, and the Supreme Judicial Council. qfcra.com

Investment and Trade

Qatar Science and Technology Park (QSTP) C2 Since 2009 QSTP has been a facility for applied research and commercialised technology in Energy, Environment, Health Sciences, and ICT. This free zone at Education City allows foreign companies to set up 100%‑owned businesses in Qatar free of tax and duties. Members must have technology development (eg applied research, development and testing of a product or service, or technology training) as their main activity. qstp.org.qa

An enhanced registration introduced in 2017 sees complete registration applications reviewed and processed within five business days. Firms have a dedicated relationship manager and are offered support in setting up. The Investment Promotion Agency of Qatar, registered at the QFC since 2019, is a single source of investment solutions in Qatar by attracting foreign direct investment in all of the country’s priority sectors. qfc.com.qa

The Qatar International Court and Dispute Resolution Centre (QICDRC) consists of the QFC Civil and Commercial Court (First Instance and Appellate Divisions) and the QFC Regulatory Tribunal. The Court has consensual jurisdiction to hear disputes between parties from anywhere around the world and mandatory jurisdiction to hear disputes between entities registered in the QFC. There is a purpose built Alternative Dispute Resolution (ADR) centre. Under Laws No 14 and 15 passed in September 2021, the QICDRC's jurisdiction was expanded to include the Qatar Free Zones and the Qatar Free Zones Authority, as well as matters referred to the Court or Regulatory Tribunal by any law in the State. qicdrc.com.qa

Qatar Exchange (QE) QE C4 was created in 2009 between Qatar Holding (88%) and NYSE Euronext (12%) as the successor to Doha Securities Market; Qatar Holding purchased NYSE Euronext's stake in 2013. In 2012, regulatory authority passed to Qatar Central Bank (QCB) from Qatar Financial Markets Authority (QFMA), and in 2014 Qatar was added to the Morgan Stanley Capital International Emerging Market Index. It was upgraded in 2016 to Secondary Emerging Market by FTSE Russell.

QE began trading in treasury bills in 2011, and in 2012 the QE Venture Market for SMEs was launched, after the QFMA adopted new listing and ©

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Investment and Trade

initial public offerings (IPO) rules in the secondary market.

As at October 2021 there are 48 listed companies and 8 brokerage firms on the main market and 2 on the venture market. Residents, expats and individual companies are all able to invest.

Traders must open an account with one of the brokerage firms, who will act as an intermediary for all transactions and provide a National Investor Number for a fee of QAR100. Traders must also register at Qatar Central Securities Depository (QCSD), established by QCB and licensed by QFMA to provide safekeeping, clearing and settlement of securities and other financial instruments listed on the Qatar Exchange. qe.com.qa, qcsd.com.qa

Real Estate Under Law No 16 of 2018 on the regulation of non-Qatari ownership and utilisation of real estate, implemented in March 2019, non-Qataris may own and use properties in Qatar 'in many areas according to conditions, regulations and procedures, which shall be determined by a decision of the Cabinet based on the proposal of the Committee for the Regulation of Ownership and Use of Non-Qatari Property'.

The real estate non-Qatari individuals and companies are allowed to invest in includes offices, shops, units and villas in residential complexes, and real estate development of land in specified areas, and is not limited to apartments and residential units.

Owners of property worth more than QAR730,000 will be offered residency, as well as their family, for the duration of ownership, with residency given as soon as they finalise the purchase. Owners of property worth more than QAR3.65 mn will receive the same benefits as permanent residents regarding healthcare, education, and investment in some commercial activities. The Ministry of Justice is the one-stop-shop for all transactions regarding non-Qatari ownership of real estate.

Freehold developments The number of areas non‑Qataris can own and use freehold property has been increased from three to nine designated areas: QATAR BANKING, COMMERCE & INFRASTRUCTURE E-GUIDE ©

Al Qassar (administrative area 60) Al Dafna (administrative area 61) Onaiza (administrative area 63) • West Bay (66) The Pearl-Qatar (66) • Lusail (69) • Al Khraij (69) Jabal Theyleeb (69) • Al Khor Resort (74)

Foreign companies can also own properties in these nine areas. The law offers an atttractive new investment model to Qatar, offering 100% guaranteed return on investment in these areas.

Leasehold developments Non‑Qataris can use real estate property for 99 years in 16 designated areas: • Msheireb (area 13) • Fereej Abdelaziz (14) • Doha Al Jadeed (15) • New Al Ghanim (16) • Al Refaa and Old Al Hitmi (17) • Aslata (18) • Fereej Bin Mahmoud (22 and 23) • Rawdat Al Khail (24) • Mansoura and Fereej Bin Dirham (25) • Najma (26) • Umm Ghuwailina (27) • Al Khulaifat (28) • Al Sadd (38) • Al Mirqab Al Jadeed and Fereej Al Nasr (39) • Doha International Airport area (48) All of these areas can be found on the map of Greater Doha in the Discovering Qatar section. m Developers and Real Estate Agents Selling Property and Land (for letting agents see Living in Qatar) Cushman & Wakefield Direct Real Estate Just Real Estate New Methods United Development Company

4483 7388 4442 1472 4491 3300 4410 8000 4409 5155

Some tips on business etiquette Doing business in Qatar relies on personal relationships as well as the quality of the company or service. Networking and exchanging business cards is important. Men should wear suits or smart/business casual, and women should cover upper arms and knees. Handshaking is common but when meeting Arab people of the opposite sex it is best to wait for them to initiate a handshake.

Some other cultural nuances include: • Do not rely too much on email.

• Oral commitments at meetings may be deemed binding, written agreements may not.

• Appointments should be reconfirmed on the day.

• While English is widely spoken, the language of government is Arabic.

• Sit and talk with your host on general matters before approaching business.

Checked & Updated October 2021

Cabinet Resolution No 28 of 2020, passed in October 2020, confirmed the areas in which non-Qataris may own and benefit from real estate, and the terms, conditions, benefits and procedures for their ownership and use of them.

This encompasses the right to free ownership of residential units inside residential complexes and shops inside malls.

• • • • •

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FEATURE

FIFA World Cup Qatar 2022™ Laws Issued

By Sarah Palmer

W

ith work continuing on stadiums and infrastructure for the upcoming FIFA World Cup Qatar 2022™, attention has turned to the legal responsibilities of hosting one of the world's most famous sporting events.

Aspects that needed to be considered include workers’ rights and immigration, sponsorship, consumer protection, tourism, intellectual property (IP) rights, and transportation, and whether existing laws need to be amended. The Supreme Committee for Delivery and Legacy (SC) developed a sporting event legal framework to support hosting the competition, and after referral to the Shura Council, two laws were enacted in July 2021 by The Amir, HH Sheikh Tamim bin Hamad Al Thani.

Law No 10 of 2021 regarding the Measures for Hosting FIFA World Cup Qatar 2022™ This sets out Qatar’s preparations for hosting the competition. Qatar has a duty to honour the Government Guarantees and Host Contract outlined in its bid, which details the commitments between FIFA, as the owner of the competition, and Qatar, as the host nation. The law has 10 Chapters and 43 Articles: Chapter 1: Definitions and General Provisions The words and phrases relevant to the law.

Chapter 2: Procedures for entry into, exit from, and work in the State Articles 4 to 7 address entry visas for foreign nationals. Entry visas shall expire at the end of the Competition Period, although FIFA or the Supreme Committee can extend them. Evidence of a work permit is not required for employees of FIFA and other specific entities, and employees will be exempted from the provisions of labour regulations currently in place in Qatar, as the provisions of the employment agreement will regulate the relationship between the parties, including working hours, salary/benefits and termination.

Competition Period: the period starting 10 days before the opening match of the competition and ending 5 days after the final match.

Chapter 3: Exemptions As per the Government Guarantees in Qatar’s bid, the law has a number of exemptions applicable to FIFA and other specified entities, for example from the payment of certain fees relating to their operations in Qatar, and from applicable taxes and customs.

Government Guarantees: entry and exit permits, work permits, tax exemptions, safety and security, bank and foreign exchange operations, protection and exploitation of commercial rights, telecoms and IT, legal issues and indemnification, and accommodation.

Chapter 4: Safety and Security Articles 9 to 12 state that the Security Committee and its chairman will be given the necessary power to operate the security elements of the competition and issue instructions and guidelines, as well as oversee public awareness of these rules.

Government medical facilities must provide medical assistance to participants in the competition, and fans must have access to emergency medical treatment during the Competition Period.

Chapter 5: Banking and Foreign Exchange Operations As per Article 13, no restrictions shall be imposed on the purchase and sale of Qatari and foreign currencies, and financial institutions must ensure there are simple and efficient banking processes, during the Competition Period. This includes the entry to and exit of currencies to Qatar and no restriction on the amount of currency exchanged during the Competition Period relating to US Dollars, Euros and Swiss Francs. The regulator, Qatar Central Bank, has the power to implement these exemptions prior to the beginning of the Competition Period if needed.

Chapter 6: FIFA Rights The chapter regulates FIFA’s commercial rights for the competition: FIFA name, logo, slogan and anthem; official titles and names relating to football ©

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or other FIFA trademarks; mascots, billboards, trophies and medals; and artistic and musical works.

The law has a list of what may be considered FIFA Intellectual Property and commercial rights and states the penalties of using such IP in any way not authorised by FIFA. Should this happen, FIFA may notify the Supreme Committee, which will inform the authorities to take action. The penalties under the law are much stricter than existing IP laws in Qatar.

Hotels/other accommodation providers and tourism service providers are not permitted to offer ticket(s) with their packages without FIFA approval. Articles 19 to 22 concern the issuance, sale, resale, redistribution and trade in tickets without FIFA’s authorisation, which has not been addressed in Qatar before. FIFA does not have to obtain prior approval when processing the personal data of nationals and residents of Qatar who purchase tickets.

Article 23 allows FIFA/other specific entities subject to the Government Guarantees to establish a company in Qatar with 100% foreign capital – these will be liquidated 90 days after the end of the Competition Period, unless their status is changed or if the Council of Ministers extends the period as per a request from the Supreme Committee.

Any and all products marketed by FIFA and its associated partners will be permitted at Activities Venues and the Controlled Commercial Area prior to and during the Competition Period.

Activities Venues: any buildings, structures or areas used for carrying out events, matches or other activities related to the competition.

Controlled Commercial Area: an area adjacent to the Stadium or Activities Venue specified by FIFA with a maximum radius of 2 km, including airspace, where commercial or other activities are banned on match day and the day preceding it. Only FIFA and its delegates can sell in the Commercial Restriction Area or existing businesses that fall within its radius.

Chapter 7: Broadcasting and Advertising The FIFA Host Broadcaster will be responsible for any and all content produced or transferred. Unless authorised by FIFA, no advertising or promotion can be performed in the Activities Venue or Controlled Commercial Area during the Competition Period and the period starting from two days before the date of the preliminary draw or the final draw until the day after the closing date of the draw ceremony. Existing businesses within the Activities Venue or Controlled Commercial Area may continue its operations unless FIFA states otherwise.

FIFA advertisements during the Competition Period will be regulated under the law, with no advertising or promotion in the Activities Venue or the Commercial QATAR BANKING, COMMERCE & INFRASTRUCTURE E-GUIDE ©

Restriction Area during the Competition Period and the period starting two days prior to the date of the preliminary or final draw ceremonies until the day following the end of the draw ceremonies, unless authorised by FIFA or its delegate.

Due to exemptions in Law No 7 of 2019 on the Protection of the Arabic language and Law No 1 of 2021 regarding the Regulation and Control of the Placement of Advertising, FIFA does not need to apply for a permit from the relevant municipality where the ad is to be placed, and instead apply to the Supreme Committee; ads can be in the English language (not both English and Arabic).

Chapter 8: Transportation Security officers, holders of a FIFA/Supreme Committee ID and fans will be able to use free public transportation (buses and the metro) in the Competition Period.

Chapter 9: Volunteers FIFA and the Supreme Committee can use volunteers without obtaining a work permit, with foreign volunteers given entry visas for single or multiple visits that will expire at the end of the Competition Period. Volunteers will also be exempted from any taxes related to their volunteer work.

Chapter 10: Sanctions and Penalties This chapter outlines the penalties to be imposed for offences committed in violation of specific articles of the law.

Law No 11 of 2021 on the Protection of Trademarks, Copyright and Related Rights of the International Football Association (FIFA) The 12 Articles offer protection for FIFA’s Intellectual Property rights by making the registration of material easier at the IP Rights or Copyright and Related Rights Protection Departments at the Ministry of Commerce and Industry. Articles 3 to 6 provide specific timings for the application, decision, registration or appeal of any application.

Article 7 states that FIFA’s trademarks are well known and protected under the Paris Convention for the Protection of Industrial Property, which Qatar is a member of. Article 10 provides that FIFA is exempted from registration fees of its trademarks, works, audio recordings, performer’s rights, and broadcasts.

For any matter not covered under this FIFA IP law, Law No 7 of 2002 on the Protection of Copyright and Related Rights and Law No 9 of 2002 on Trademarks, Commercial Data, Trade Names, Geographical Indications and Industrial Designs, will apply.

Note: These are unofficial translations of the laws, taken from the Arabic versions issued in the Official Gazette. m

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Infrastructure in Qatar

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gas and petrochemicals industries. However the government is diversifying economic development elsewhere, especially in view of lower oil prices.

Infrastructural spending is being boosted ahead of the FIFA World Cup Qatar 2022TM, an event expected to attract thousands of visitors and increase tourism. The Ministry of Administrative Development, Labour and Social Affairs states that the demand for workers has been rising ever since Qatar’s bid victory in 2010.

Conferences and Exhibitions

Qatar National Vision As arguably the world’s fastest‑growing economy, Qatar recognises the importance of diversification and sustainability. It also acknowledges the inherent challenges of a rapidly‑increasing population, further industrialisation, and the resultant need for an ever-expanding infrastructure.

To manage these challenges in effectively, Qatar National Vision (QNV) 2030 was first published in 2008. Based on the guiding principles of the Permanent Constitution, it defines the nation’s medium‑to‑long-term objectives and creates a framework for sustainable national strategies.

QNV 2030 rests on four pillars – Human, Social, Economic and Environmental Development – each with clearly defined individual long‑term outcomes yet important inter‑relationships.

Under QNV 2030, all new projects should provide a high standard of living for future generations, with investments in education, research, healthcare, transport and industry, to enable Qatar to sustain its own development by 2030. Plans include an integrated transport system, a major overhaul of roads and highways, drainage and sewage, and the renovation of downtown Doha.

The first wave of specific actions and targets were defined in the Qatar National Development Strategy (NDS) 2011–2016. NDS 2017–2022 was released in December 2017 by HE Sheikh Abdullah bin Nasser bin Khalifa Al Thani, the previous Prime Minister and Minister of Interior, prepared by the Planning and Statistics Authority and other entities.

Economic Strategy Qatar’s economic development aims to create and sustain a competitive and diversified economy capable of meeting the needs of, and securing a high standard of living for, its population now and in the future. The economy has historically been significantly boosted by growth in the oil,

An influential player in the region’s MICE market, the first major facility opened in 2011. The Qatar National Convention Centre, a member of Qatar Foundation (QF) and located in Education City, is one of the largest, most technologically advanced venues in the Middle East, employing environmental and sustainability best practices including LEED gold certification.

Designed by Arata Isozaki, the award-winning venue features a 3D representation of the Sidra tree, symbol of QF. The 200,000 sq m venue includes a 40,000 sq m exhibition space, a conference hall for 3,800 delegates and a 2,300‑seat theatre.

Infrastructuree in Qatar

Lusail Towers, designed by Foster + Partners

The 47,700 sq m Doha Exhibition and Convention Center opened its doors in 2015. The building includes a state-of-the-art exhibition hall, modular wall system, high-tech meeting and conference rooms, and underground parking. Located in Al Dafna, the venue has five exhibition halls, which can be used as one hall of 29,000 sq m thanks to a unique wall partition system. The 18-metre high ceiling is the highest in the Middle East, supported by a revolutionary cantilever roof and is pillar-free.

Annual business conferences and exhibitions include Project Qatar, QITCOM, and Cityscape Qatar, as well as the Arab Future Cities Summit, the Green Building Expo, the World Stadium Congress, trade summits and conferences.

Spectacular Buildings Dramatic changes to Doha’s skyline have seen glass and concrete towers built with materials imported from all over the world.

The population has increased from nearly 1.7 mn people in 2010 to just over 2.6 mn in September 2021, mainly living in and around Doha. Just 50 years ago the 20,000 population of Doha lived and worked in single or two‑storey structures on the narrow streets of what was just a small town on the southern shore of Doha Bay. In the 1970s, as the country changed from fishing and pearl diving to oil production and export, the ©

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Infrastructure in Qatar

decision was taken to reshape Doha Bay, extend the waterfront and expand the town area by reclaiming land. The area now known as Al Dafna (or ‘West Bay’) was dredged from the sea and the first building was the iconic Sheraton hotel, now dwarfed by the other hotels, office towers and apartment blocks nearby.

Demand for town centre real estate has grown, with more luxurious living and working environments, forcing the city upwards. The traditional inwardlooking, small‑windowed, courtyard dwellings – cooled naturally or via a wind tower and vented walls – reflect the limitations of building materials and technology at the time. Now developments in glass technology and energy‑efficient, eco‑friendly air conditioning allows Qatar to build green.

Developments to Infrastructure The public-private partnership (PPP) law, approved by the Cabinet in April 2019, will support projects connected to Qatar National Vision 2030 and the FIFA World Cup Qatar 2022TM. The PPPs will be used for a variety of sectors, including healthcare, education, sports, real estate and infrastructure.

The State Budget for 2021 is based on an average oil price of USD40 a barrel. A total of QAR72.1 bn has been allocated for major projects (down 19.9%). This is for new and ongoing projects in various sectors, those related to the FIFA World Cup Qatar 2022TM, and for citizens’ land development projects and related infrastructure.

There is also a focus on enhancing food security and developing infrastructure in the Economic, Industrial and Logistics Zones to support economic diversification and growth. Read more about the 2021 State Budget in Economy, in this section.

Public Works Authority ashghal.gov.qa The Public Works Authority (Ashghal) was established in 2004 for the planning, design, procurement, construction, delivery, and asset management of all infrastructure projects and public buildings in Qatar. Key projects include the Expressway Programme, roads and drainage under the Local Areas Infrastructure Programme, and the Inner Doha Re-sewerage Implementation Strategy.

include parks. More than 15,000 trees and shrubs have already been planted under the G Ring Road Development Project, and 30,000 on Al Khor Road.

Numerous expressway projects have brought great benefits to navigating around the country. On Al Majd Road, Road 2 links Mesaieed Industrial City with Lusail City, while Road 4 links Mall of Qatar with Ras Laffan. The superhighway Dukhan Road is nearing completion, and the B Ring Road development project is well underway.

The Refurbishment and Upgrading Works for Four Sewage Pumping Stations Project aims to provide sustainable solutions for improving the country’s sewage networks using 'Made in Qatar' materials to support local manufacturers. The Mesaimeer Pump Station and Outfall Tunnel project began in 2018 and at 10 km is the world's longest. It is scheduled to be completed in Q4 2021 and is the second phase of the Mesaimeer Surface and Ground Water Drainage Tunnel Project.

Ministerial Resolution No 211 of 2019 on Setting the Fees for the Services Provided by the Public Works Authority outlines the services provided under three categories: connecting to networks, usage of the networks, and providing permits for services related to the operation and maintenance of both drainage and roads networks. A full list of charges can be found on their website.

Qatar General Electricity & Water Corporation km.com.qa The corporation, known as Kahramaa, was established in 2000 under the Ministry of Energy and Industry to regulate and maintain the supply of electricity and water to its customers. Kahramaa transferred ownership of its stations to Qatar Electricity and Water Company in 2002. In 2018 the Minister of State for Energy Affairs, HE Saad Sherida Al Kaabi, assumed responsibility for Kahramaa as part of his remit to oversee the regular and sustainable supply of energy, power and water for domestic purposes.

Ashghal launched its Corporate Strategy 2018– 2022 under the authority's new vision ‘Excellence in delivering and managing efficient sustainable infrastructure’, with 10 objectives to accomplish its mission of ‘continuously enhancing customer satisfaction through leading project and asset management services and solutions’.

An ambitious strategic plan sees Kahramaa investing QAR38 bn to meet the increasing demands made to the electricity and water supply, with a further QAR6 bn after 2022. This includes five mega water reservoirs to be online by 2026 to provide storage for 2,300 mn gallons a day of water, while the power generation phase will produce 2,520 megawatts of electricity. The plant will add around 30% water and 25% electricity of local demand once fully completed.

Ashghal's Supervisory Committee of Beautification of Roads and Public Places develops major roads, pedestrian and cycle paths, and landscaping, to

Smart meters to digitally send readings for more accurate energy bills help the customer better understand their energy usage, as part of the

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marhaba.qa Tarsheed initiative to rationalise consumption of water and electricity. Smart digital devices are also being used to detect leakages on the water distribution network to enable savings.

Selected Megaprojects in Qatar

FIFA World Cup Qatar 2022

qatar2022.qa No list would be complete without mentioning the enormity of the proposed sporting event coming to Qatar. Previously known as the Qatar 2022 Supreme Committee, the Supreme Committee for Delivery and Legacy (SC) has signed stakeholder agreements with Qatar Rail, Ashghal, Kahramaa, Aspire Zone Federation and Qatari Diar, for projects to deliver the infrastructure for the event.

TM

The Workers’ Welfare regularly interacts with SC workers with a dedicated hotline to deal with grievances. SC's Workers Welfare Standards exceed Qatar’s laws to ensure fair recruitment policies, payment terms, overtime provisions and accommodation standards. All contracted workers are registered with an integrated electronic medical records system and undergo medical screening by Qatar Red Crescent funded by SC. The Official Emblem was unveiled in Doha on 2 September 2019 at 20:22 local time, with the synchronised projection of the emblem onto a number of prominent buildings. Many of the eight proposed host venues are completed or nearing completion. The new stadiums, designed by the world's leading architects, reflect aspects of Qatari culture, and take into consideration three priorities: access and comfort, sustainability, and post-tournament legacy. Fans can potentially see more than one match a day, as the longest distance between venues is just 55 km.

• Khalifa International Stadium: Originally built in 1976, the stadium was reopened in May 2017 following its renovation.

• Al Janoub Stadium: Designed by the late Zaha Hadid and inspired by traditional dhow boats, the 40,000‑seater venue will become the home of Al Wakra Sports Club with 20,000 seats donated to football projects overseas. The stadium opened in May 2019 for the final of the Amir's Cup.

Al Bayt Stadium

• Education City Stadium: The 40,000-seat venue will in legacy mode become a sports, leisure and social hub for students and local sports clubs.

Half the seats will be donated to stadiums around the world. The stadium was officially completed on 15 June 2020.

• Ahmad bin Ali Stadium: An undulating façade and sand dune-shaped structures uses environmentally friendly building materials and practices, with a renewable energy generation system on site. The new home of Al Rayyan Club, nearly half of the 40,000 modular seats will be donated overseas. The stadium opened 18 December 2020.

Infrastructuree in Qatar

Qatar is undertaking a number of megaprojects to satisfy QNV 2030 and the football event, good news for both local and international businesses.

These include projects with Qatar Rail, Qatar Free Zones Authority, the North Field Expansion project under Qatar Petroleum, and the proposed expansion of Hamad International Airport. Here are just a few current projects:

• Al Bayt Stadium, Al Khor City: A 60,000 seaterstadium which will be home to Al Khor Sports Club. The design is based on a Bedouin tent, and will have a retractable roof. After the tournament the stadium's modular seating will reduce to 32,000 with the surplus seats donated to global football development projects.

• Al Thumama Stadium: Designed by Qatari architect Ibrahim M Jaidah, representing the traditional gahfiya, it won the MIPIM/The Architectural Review Future Project Award in 2018. In legacy mode, seating will be reduced from 40,000 to 20,000.

• Ras Abu Aboud Stadium: Constructed from shipping containers, removable seats and other modular building blocks, the 40,000-seater stadium is the first fully reusable FIFA stadium.

• Lusail Stadium: Seating 80,000, the stadium in Lusail City will host the opening and closing ceremonies, matches throughout the tournament, and the final, to be held on Qatar National Day, 18 December. Its design is inspired by the fanar lantern and the motifs on bowls and other vessels seen throughout history in the Arab world.

After the tournament, the venue will become a community space with schools, shops, cafés, sporting facilities and clinics. ©

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marhaba.qa Qatar Integrated Rail Project corp.qr.com.qa

Lusail City lusail.com

Following its establishment in 2011, Qatar Railways Company (Qatar Rail) is leading one of the largest rail projects in the world to meet the demands of Qatar’s dynamic and growing population. The company is responsible for the design, construction, commissioning, operation and maintenance of the entire network and systems.

One of the largest projects in Qatar costing an estimated QAR163.8 bn, Lusail City is developed

by Lusail Real Estate Development Company (LREDC), a subsidiary of the Qatari Diar Real Estate Investment Company, itself a subsidiary of Qatar Investment Authority. Spanning 38 sq km north of Doha, Lusail City is master planned to accommodate more than 450,000 residents and visitors. Launched in 2004, features include:

The state-of-the-art railway network currently consists of Doha Metro, a rapid transit system connecting communities within Doha and its suburbs, and Lusail Tram, a service for convenient travel within the new city of Lusail.

The Doha Metro: Three lines covering the Greater Doha area with connections to commercial and residential areas throughout the city. In central Doha, the Metro network is mainly underground, while at the outskirts it Is at ground level or elevated. The project has been conducted over multiple phases, phase one includes three lines (Red, Gold, and Green) which are now open to the public.

• The Red Line is about 40 km running from Al Wakra in the south to Lusail in the north, with a connection to Hamad International Airport.

There are 18 stations, and passengers can transfer to the Lusail Tram at Legtaifiya and Lusail stations.

• The Green Line runs east from Al Riffa to Al Mansoura, in the west.

• The Gold Line runs from Ras Bu Abboud to Al Aziziya with 11 stations.

• Fox Hills district: Housing for 40,000 residents, with a hospital, schools and mosques.

• Place Vendôme: Inspired by Paris' Rue de la Paix.

A mixed-use project with a mall and luxury retail wing, two five-star hotels (Le Royal Meridien and Palais Vendôme), a luxury collection hotel (Le Royal Meridien Residences) and entertainment aeas.

• Qetaifan Island North: A mixed-use project with a beach club, a linear park and a floating hotel.

Qetaifan Projects is owned by Katara Hospitality.

Residents have access to essential services with work continuing on supporting infrastructure.

Msheireb Downtown Doha msheireb.com The flagship project of Msheireb Properties, a subsidiary of Qatar Foundation, Msheireb Downtown Doha (MDD) is the world’s first sustainable downtown regeneration project, the QAR20 bn restoration of a 31 hectare site.

Msheireb means ‘a place to drink water’ in Arabic, and is the historical name of downtown Doha.

The 'smart city with soul' is aiming for Gold or Platinum LEED Certification. The recently launched Doha Design District, a new design and innovation hub, will grant free zone status to occupants from a multitude of business sectors.

MDD is divided into five broad quarters, with hospitality, retail, residential and commercial areas. Barahat Msheireb is the region’s largest covered public square, anchored by the Cultural Forum and the Mandarin Oriental Doha hotel. The Heritage quarter features four historic houses that have been restored and turned into museums.

The Diwan Amiri quarter comprises the Diwan Annexe, Amiri Guard building and Qatar National Archive, while Sikkat Wadi Msheireb is fully pedestrianised with the Alwadi Hotel Doha MGallery Hotel Collection and the Park Hyatt Hotel.

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Lusail Tram: An integrated transportation system serving Lusail City. The state-of-the art network is a tram based system connecting major points of interest in the city. The tram is designed to travel on streets, sharing road-space with other traffic and pedestrians. The project consists of 28 km along four lines and 25 stations, with interchange stations allowing passengers to continue to Doha via the Doha Metro.

• Energy City: A centre for government ministries, and public and private company headquarters.

MDD is the central interchange for the Doha Metro, with other methods of transportation underground for a pedestrian‑friendly atmosphere. m

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FEATURE

Qetaifan Island North

By Sarah Palmer

L

ocated at Qatar's new Lusail City, Qetaifan Island North is an eco-friendly, luxurious choice for families to enjoy quality time together. The exclusive island features exclusive villas and apartments with exceptional waterfront views, allowing for the ultimate in comfort and relaxation.

The sales launch of the first phase of serviced villa plots began in late 2019, while the second phase was launched in November 2020. HE Sheikh Nasser bin Abdul Rahman Al Thani, Managing Director of Qetaifan Projects, said at the launch that there was high demand on Qetaifan Island North’s Phase 1 villa plots, launched in 2019 during the Cityscape exhibition. After studying the market and by offering competitive prices and payment facilities to owners and investors, and in continuation of the company's success, the sales launch of Phase 2 villa plots was announced, consisting of 51 plots including beach access villas, waterfront villas, and garden villas.

HE Sheikh Nasser Bin Abdul Rahman Al Thani commented 'We have launched a new real estate product for the first time in the Middle East, which is 10 villa plots with access to a five-star operated beach, at competitive prices, and financing facilities for either owners or investors.' It is also worth mentioning that Qetaifan Island North provides attractive opportunities for both local and international investors. Non-Qataris can have freehold ownership in the island.

HE Sheikh Nasser bin Abdul Rahman Al Thani, Managing Director of Qetaifan Projects, stated that the demand for investment in phase 1 of Qetaifan Island North is a clear reflection of the position the company has in the local real estate development market, and that the project represents a starting point for Qetaifan Projects towards developing more projects and serving various state sectors.

Investors will be able to benefit from the returns of Qetaifan Island North project via the safe

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Hotel guests, residents and visitors will be able to enjoy a number of retail services, including a retail plaza and souq. The latter will overlook Linear Park, the main artery of the island and which will link all the various zones together.

Running through the park will be an artificial Salt Canal, linked to the sea, for activities such as fishing and boating to enrich culture, with transportation available via water taxis.

Hotel and Waterpark

environment achieved by the state to encourage and attract foreign investment and create new opportunities. This will positively affect the local market, encouraging competition and boosting sectors sectors like tourism, hospitality and entertainment.

Qetaifan Island North is an important part of the plans to host the FIFA World Cup Qatar 2022TM, given its close proximity to Lusail Stadium. The project has the capacity to accommodate a large number of hotels, retail outlets, restaurants, and unique recreational facilities such as the waterpark and the vast green spaces. Not only this, it represents a commitment to investing in the development of the tourism industry and strengthening the hospitality sector in Qatar. Katara Hospitality aims to change the world of hospitality through investment and innovation, leaving a prominent legacy for future generations in line with Qatar National Vision 2030.

About Qetaifan Island North Project The island is the first and main project of developer Qetaifan Projects, a limited liability real estate development company founded in October 2017 and fully owned by Katara Hospitality, a leading global hotel owner, developer and operator based in Qatar.

Qetaifan Projects aims to support the country's long-term economic vision by building cities with sustainable and intelligent infrastructure.

Watersports can be also found at the family-friendly Beach Club, which is the proposed first element to be completed on the island. The Beach Club will be operated by Rixos International Hotels and will be similar to a hotel facility with all its services, without keys. Visitors will have access to a clubhouse, a beach and infinity pool, and a restaurant, gym and spa.

Activities are not restricted to the water though, as the island will have ample boardwalks and lush gardens and lawns to stroll along.

For more information about Qetaifan Island North, visit qetaifanprojects.com m One of the main attractions is a state-of-the-art waterpark, with rides inspired by Qatari culture and telling the remarkable story of the oil and gas industry. The Icon Tower is the highest of its kind, reaching 80 m, and is on a smaller, adjacent island, linked by a bridge and approached by a train. A contract has been signed with Sarner International to implement the edutainment ride at the water park, while Severn Lamb will manufacture the trains to connect the water park to the Icon Tower island.

Icon Tower

Qetaifan Island North is a unique project spanning approximately 1.3 mn sq m with 830,000 sq m of vibrant attractions and entertainment facilities.

It will feature six beaches, making the island an important part of Lusail City's distinct waterfront.

Luxury hotels on the island, with all the usual highend facilities, will allow visitors to fully appreciate and immerse themselves in the view and comfort on offer. For the residential community, waterfront villas, beach access villas, garden villas, and well-appointed apartments will be available, and amenities will include a K-12 school, world-class medical centre, and mosque. ©

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