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Tourism real estate Committee

Introduction

Based on the decision of the Federation on its meeting (33) held on February 10th, 2008 in Riyadh, the Gulf Tourism and real estate Committee was formed.

This committee covering two sectors have been separated into two different committees, according to the decision of the Federation on its meeting (36) held on April 8th, 2010 in Doha .

Objectives

15 . Develop and organize the real estate industry in the GCC countries .

16 . Contribute to the promotion of Gulf capital markets and foreign investment in the real estate industry in the GCC countries .

17 . Contribute to the dissemination of culture and professional knowledge among professionals of the real estate industry in the GCC countries.

18 . Work on the unification of procedures of ownership and lease investments in the GCC countries .

19 . Contribute to solving the problems and obstacles faced by the real estate industry in the GCC countries .

Achievements

20 . Discuss the laws prepared by the GCC Member States and adopted by the Supreme Council of the GCC at its (23) and to raise the views of the Secretariat of the Cooperation Council for the Arab Gulf States through the Secretariat of the Federation.

21 . Study the establishment of a fund specialized in the industry of building materials in the GCC so to substitute imported construction materials from overseas factories in one of the GCC countries and the possibilities to export the produced surplus.

22 . The Committee hosted a representative from the Ministry of Housing , Oman to talk about the GCC citizens’ rights in Real Estate in the Sultanate of Oman .

23 . The Committee hosted the Director of the Department of Real Estate Registration in the Emirate of Sharjah to talk about laws and regulations concerning ownership of GCC nationals and residents of the Emirate of Fujairah , United Arab Emirates .

24 . Visit of the President and members of the Committee for the Department of Real Estate Registration in the Emirate of Sharjah to be informed on the regulations of = ownership and investment of GCC nationals in the Emirate of Fujairah’s Real Estate , United Arab Emirates .

25 . The Committee hosted the Director of the Department of Real Estate Registration in Qatar to talk about laws and regulations concerning ownership of GCC nationals in Qatar.

26 . Organized an event on the “future prospects of real estate investment in the Kingdom and the GCC countries”, during the period May 1 to 4, 2011 in Riyadh.

27 . The Committee hosted the Secretary-General of the Federation of Kuwaiti real estate experts, to talk about the real estate in the State of Kuwait.

28 . Study the idea of setting up a Gulf Real Estate Company to prepare real estate studies. The formation of the company founding committee of members of the Commission as a personal initiative until the completion of the feasibility study for the establishment of the company by the Organization of the Gulf for Industrial Consulting or any other specialized GCC countries or outside.

29 . Studied the possibility to find a supreme body under the umbrella of the GCC where the real estate sector to act as the engine for sustainable development of the economy of the (GCC).

30 . Meeting the President and members of the Committee with Dr. Essam Abdullah Fakhro, Chairman of the Chamber of Commerce and Industry of Bahrain on February 2nd, 2012 to talk about the activities of the Committee and its contribution to the development of the real estate sector in the region.

Last Update: 21/06/2015