Lagarde seen in pole position to replace ECB’s Draghi PAGE 12 WEDNESDAY, JULY 3, 2019 DOW26,710.56 QE 10,578.43 SENSEX 39,816.48 GOLD 1,409.90 OPEC inks new charter with -6.87 PTS +18.30 PTS +129.98 PTS +1.48% Russia, other allies PAGE 12 PRICE PERCENTAGE PRICE PERCENTAGE 15.26 BRENT 62.47 -3.98% WTI 56.29 -4.74% SILVER +0.44% PROPERTY INVESTMENT IN QATAR A great opportunity for expats to secure permanent residency SATYENDRA PATHAK Qatar Tribune. Al Jahaniyah. port land). While West Bay Lagoon DOHA In accordance with Law No The usufruct areas where Other than the labour and Onaiza are for affluent 16 of 2018 on the regulation of non-Qataris can use the real force, Qatar has a population buyers with a budget of over A number of expatriates have non-Qatari ownership and use estate for 99 years are Zone 13 of over 1,500,000 expatriates. QR5,000,000, The Pearl Qa- shown buying interest in Qa- of real estate, owners of the (Musheireb), Zone 14 (Fereej For many of them, who have tar caters both segments. tar’s real estate market as it real estate property minimum Abdul Aziz), Zone 15 (Al Doha been living in Qatar for more Thanks to new access offers excellent opportunity worth $200,000 are eligible to Al Jadeeda), Zone 16 (Old Al than 10 years, Qatar is their roads to Lusail and Al Khor, for them to secure permanent apply for the permanent resi- Ghanim), Zone 17 (Al Rufaa second home. This law allows a strong interest has been residency in the country, Al dency card of Qatar. As per the & Al Hitmi), Zone 18 (Slata), such expatriates to secure per- shown by expatriates in these Asmakh Valuations and Re- official gadget, the freehold ar- Zone 22 & 23 (Fereej Bin manent residence and live in areas and in their neighbour- search Director Gaurav Bori- Qatar as long as they hold the hoods. kar has said. property in the country. Besides long-term resi- “Expatriates working in For expatriates, apart- dency, the permanent resi- Realty Check with Doha for a long period of time ments in The Pearl Qatar, dency card also offers many are taking advantage of this Zig Zag Tower and villas in benefits to businessmen and great opportunity to secure Al Asmakh Real Estate West Bay Lagoon were avail- investors. their residency in Qatar. The able for a long period of time. The holder of the per- residency earlier was connect- eas are Zone 66 (Legtaifiya & Mahmoud), Zone 24 (Rawdat However, land purchase is a manent residency card shall ed to jobs. Hence, having a job The Pearl), Zone 60 (Al Dafna, Al Khail), Zone 25 (Al Man- new opportunity where the have the right to invest in the was the most crucial aspect of only administrative), Zone 61 soura & Fereej Bin Derhem), expatriates are highly inter- A view of the residential buildings in The Pearl. activities of the nation’s vari- staying in Qatar. Now an ex- (Al Dafna, only administra- Zone 26 (Najma), Zone 27 ested in. ous economic sectors without patriate is eligible to apply for tive), Zone 63 (Onaiza, only (Umm Ghuwailina), Zone 28 “The Asian and Arab ex- The momentum has taken Zig Zag tower, Al Khor re- a Qatari partner. The estab- a permanent residency in Qa- administrative), Lusail City- (Al Khulaifat), Zone 38 (Al patriates are highly motivat- a pace in villa sector. Soon sort, Lusail City, and the noti- lishment of the company shall tar by purchasing $200,000 Zone 69 (Al Kharayej, Jabal Sadd), Zone 39 (Al Sadd, Al ed to secure their house by several transactions are fied area among C Ring Road be in accordance with the law worth of real estate property Thuaileb, Al Wassil), Zone 74 Mirqab Al Jadeed, & Dereej Al purchasing or developing a expected in this segment,” are preferred by the budget- governing the law of commer- in the country,” Borikar told (Al Khor resort) and Rawdat Nasr) and Zone 48 (Old Air- villa that suits them the best. Borikar said. friendly buyers. cial companies. QNB is MENA’s Qatar’s economic growth biggest bank with Tier 1 capital of gains pace in Q1: Report $22.5 bn: Banker FocusEconomics sees Qatar’s economy to grow 2.6 percent in 2019, and 2.8 percent in 2020 SATYENDRA PATHAK TRIBUNE NEWS NETWORK DOHA DOHA QATAR’S economic growth is QATAR National Bank (QNB) This is a testament to the expected to have accelerated Group has topped the Middle group’s steadfast in the first quarter of 2019 as East and Africa (MEA) region commitment to excellence the country’s real estate and on Banker Magazine’s Top driven by our solid financial non-oil private sectors have 1,000 World Banks list issued performance, overall asset shown signs of strength in recently, the bank said in a the first three months of the statement on Tuesday. quality, and increasing year, FocusEconomics has QNB has been ranked market share said in a report released on number one as the region’s QNB Acting CEO Abdulla Tuesday. largest bank with Tier 1 capi- Suggesting stabilisation tal of $22.5 billion for the Mubarak al Khalifa in the housing sector, the re- 2018 period, a 12 percent in- port said, Qatar’s real estate crease over its 2017 figures, the group’s steadfast com- price index continued to edge bolstered by a $2.8 billion ad- mitment to excellence driven higher in March. ditional Tier 1 perpetual capi- by our solid financial perfor- “Boding well for domestic tal note. mance, overall asset quality, demand, Qatar’s non-oil pri- The bank reported some and increasing market share.” vate sector purchasing man- of its best annual results ever Abdulla said, “This new agers’ index (PMI) and private during the review period sup- achievement reflects our com- sector credit growth averaged ported by the success of its mitment and spirit of leader- higher in the first quarter business strategy, with a glob- ship and innovation to bring compared to the previous Qatar’s current account balance turned positive to $6.4 billion in 2017 and is expected to rise to $13.3 billion in 2019, the report said. al ranking of 75th in the list. to reality QNB Group’s aspi- quarter,” the report said. The recognition was based ration of becoming ‘a leading Turning to the second projects related to the 2022 According to the annual increase from $35 billion in on a number of factors, in- bank in the Middle East, Afri- quarter, the report said, the World Cup,” it said. FocusEconomics, a lead- data released as part of the 2019 to $37.8 billion in 2020 cluding pre-tax profits, total ca and Southeast Asia (MEA- non-oil seems to have re- FocusEconomics pan- ing provider of economic report, the overnight lending and rise up to $40 billion in assets, capital assets ratio, SEA) by 2020.” mained solid overall. elists see Qatar’s economy analysis, has also forecast rate in the country would con- 2021. return on capital, return on Earlier this year, QNB “In April, industrial pro- to grow 2.6 percent in 2019, that Qatar’s trade balance tinue to rise from the current FocusEconomics, a lead- assets, BIS total percentage, brand was recognised, once duction picked up, tourist which is unchanged from last 5 percent and reach up to 5.32 ing provider of economic NPL percentage, loans to as- again, as the most valuable arrivals surged year-on-year month’s estimate, and 2.8 would rise from $47.2 bn percent by 2023. Qatari riyal analysis, has also forecast that sets ratio, RWA density and banking brand in the MEA, and private credit growth ac- percent in 2020. in 2019 to $47.7 bn in will continue to be pegged at Qatar’s trade balance would cost/income ratio. with a value worth $5.04 bil- celerated,” the report said. Consumer prices fell 0.7 2020 $3.64 in the years to come, rise from $47.2 billion in 2019 QNB Acting CEO Abdulla lion, according to the annual Boding well for invest- percent in annual terms in the report said. to $47.7 billion in 2020. Mubarak al Khalifa said, “Be- report carried out by Brand ment and the energy sector May, the report said adding cent in 2020,” it said. According to the report, The report has also pro- ing recognised as the first Finance. going forward, the report said, inflation should return later While Qatar’s economic the country would witness a jected that Qatar’s current ac- MEA’s financial institution The group has maintained Qatar Petroleum signed a deal this year on stronger eco- growth will reach 2.9 percent sustained increase in both im- count balance would account in the top 1,000 banks glob- its position as one of the high- with Chevron in June to build nomic activities, but should in 2021, the report said, it will ports and exports. for 6.7 percent of the total ally by a leading financial est rated regional banks from a multi-billion dollar petro- be subdued nonetheless. be accelerating to 3 percent in While the merchandise GDP in 2019. publication as internation- leading credit rating agencies chemical project. “Our panelists expect in- 2022 and 2023. exports from the country are Qatar’s current account ally respected as The Banker including Standard & Poor’s “Growth should gain im- flation to average 0.6 percent The GDP per capita in expected to rise from $82.2 balance turned positive to Magazine is a truly important (A), Moody’s (Aa3), Fitch petus this year, propped up in 2019, which is down 0.3 Qatar will also increase from billion in 2019 to $85.5 bil- $6.4 billion in 2017 and is ex- milestone.