Doha: Qatar's real estate sector is transitioning from rapid expansion to a new phase of smart diversification, with a growing focus on mixed-use developments, urban renewal, and quality of life, said the CEO of Saudi Arabia's New Murabba Development Company.

Speaking to Qatar News Agency (QNA), Michael Dyke said Qatar is well-positioned for its next growth cycle, with strong foundations in tourism, logistics, housing, and retail. He praised the country's stable regulations and clear urban development vision, which he said give international investors confidence in the market.

Dyke's remarks came on the sidelines of the third Qatar Real Estate Forum, which he hailed as a key platform for uniting policymakers, investors, and developers under a shared regional vision.

He highlighted the growing opportunities for Saudi-Qatari collaboration in areas such as smart cities, green infrastructure, and sustainable construction.

Commenting on Saudi Arabia's own real estate transformation, Dyke pointed to major projects like New Murabba and Diriyah as part of a broader effort to redefine how cities are built and lived in under Vision 2030.

He described New Murabba as one of the region's most ambitious urban developments, combining large-scale housing, retail, and office space with sustainability, all designed to support walkable, livable communities.

Spanning 14.6 square kilometers, the masterplan includes 90,000 residential units, 9,000 hotel rooms, nearly 2 million square meters of retail and office space and 25% of the space dedicated to walkways, green areas, and shaded public zones. He added that the project ensures that essential services are within a 15-minute walk, supported by AI-powered infrastructure and energy systems.

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