Aqarat Launches Inaugural Qatar Real Estate Award

Doha: The Real Estate Regulatory Authority (Aqarat) announced the launch of the inaugural Qatar Real Estate Award, an initiative that aims to honor excellence and innovation in the real estate sector in the State of Qatar.

The award ought to strengthen the nation's position as a global investment destination and aligning with the objectives of Qatar National Vision 2030 (QNV 2030).

In a statement, Aqarat emphasised that the award is open for participation by real estate developers, consultancy offices, and contractors to submit their terrific projects that reflect leadership and quality in design and execution.

October 7 ought to be the final date for nominations, and each project should submit an independent nomination form. All submissions must be provided in both Arabic and English, in strict adherence to the deadline, the statement read.

The award encompasses four categories covering quality of life in residential projects, sustainability aspects, economic and investment feasibility, as well as office and commercial environments, Aqarat said.

It added that the best residential real estate project award focuses on quality-of-life elements and comprehensive services provided to residents. Applicants are required to submit a detailed description of these elements, indicate the project classification by building height, low, medium, or high-rise, and state the percentage of green spaces relative to the total area.

Submissions must also include details of available community services such as security, facilities, and recreational areas, demonstrate infrastructure connectivity with public amenities and community services, and attach residents' satisfaction indicators, the statement continued.

For the best sustainable urban development project award, applicants must provide detailed architectural plans, specifications of construction and finishing materials, and recognized sustainability certifications such as GSAS or LEED.

In addition, submissions should include energy and water efficiency reports, descriptions of sustainable systems employed, including water recycling, solar energy utilisation, and use of eco-friendly materials, alongside an environmental impact assessment.

Projects should also describe smart building systems such as lighting, air conditioning, and security, and indicate the building's readiness for future technologies, including artificial intelligence solutions.

Applicants are also required to present smart transportation and parking solutions and demonstrate connectivity with public amenities and surrounding community services.

The award also includes a category for the best commercial or office real estate project, which requires a description of the work environment, details of digital infrastructure such as internet connectivity, communication networks, and smart systems, a statement of Building Management Systems (BMS) in place, proximity to business hubs or vital areas, and explanation of interior design flexibility to support productivity, alongside proof of integration with public amenities and community services.

The best real estate investment award requires the submission of a comprehensive economic feasibility study, financial performance indicators, and expected Return on Investment (ROI), in addition to occupancy or sales ratios.

Applicants must also explain the project's contribution to developing the local market and creating job opportunities, provide a maintenance and operational plan, outline future expansion strategies, and document connectivity with public amenities and community services.

With these comprehensive requirements, the award covers the environmental, social, and economic dimensions to ensure the recognition of projects that deliver sustainable and inclusive value to Qatar's real estate sector.

The announcement of the award comes ahead of the third Qatar Real Estate Forum, organized by Aqarat, which will take place from Oct. 14 to 16 at the Doha Exhibition and Convention Center.

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