Al Rayan Bank, Masraf Al Rayan and United Development Company launch unique partnership to showcase Qatari property investment opportunities in the UK
Al Rayan Bank, the UK’s most successful Sharia compliant bank, Masraf Al Rayan (MAR), Al Rayan Bank’s parent and one of Qatar’s largest banks, and United Development Company (UDC), a major Qatar-based public shareholding entity, have partnered to facilitate property investment opportunities for non-residents in Qatar, focusing on individuals based in the UK.
The groundbreaking move is aimed at stimulating international investment from the UK in Qatar’s real estate market and comes as its value is expected to reach $265bn this year with annual growth of three per cent forecast over the next five years*, driven by increased foreign investment and government initiatives promoting homeownership.
MAR and UDC - the master developer behind the Pearl and Gewan Islands – say this is the first partnership between a Qatari bank and a developer specifically aimed at supporting UK residents to invest in the Qatar property market.
As part of the partnership, MAR will facilitate seamless access to financing for non-residents, offering up to 60% of the property value, subject to a minimum property value of £345,500 (US$430,000).
In an exclusive event, organised by Al Rayan Bank and held on 15 April at London’s Corinthia Hotel, the partners provided a platform to 50 of Al Rayan Bank’s most important customers, all keen to learn about the exciting opportunities available in Qatar's real estate landscape. The presentations spotlighted premier developments located within the iconic Pearl and Gewan Islands.
During the event, investors were given insights into the residency permit procedures applicable to non-Qatari nationals investing in these projects. Investors may be eligible for a residency permit without a local sponsor, provided they meet residency requirements.
MAR also provided insights into its specialised financing program for non-residents, approved by regulatory authorities, demonstrating its commitment to facilitating international investment in Qatar.
Commenting on the event and the opportunities available to non-residents in Qatar, Mr. Faisal Nasser Al-Emadi, UDC Executive Director Commercial said: "UDC is pleased to forge new partnerships and expand its global reach through the collaboration with Masraf Al Rayan. Together, we aim to bolster Qatar's real estate sector and attract international investors to UDC’s distinguished properties at The Pearl and Gewan islands.
“Our alliance with a reputable financial institution like Masraf Al Rayan not only provides access to Sharia-compliant Islamic financing solutions and a discerning clientele, but also enables us to collectively showcase Qatar as a premier destination for property investment in the region. Through this collaboration, we highlight the Islamic financing options available to non-residents and the residency benefits that come with investing in Qatar. With UDC's diverse property portfolio, seamless community management, and commitment to sustainability, we are confident in attracting foreign investors to contribute to Qatar's thriving real estate landscape."
Rana Al Asaad, GM Retail and Private Banking, MAR said, “We are delighted to launch this innovative financing programme, which underscores our commitment to driving international investment and contributing to the growth of the Qatari economy. With the real estate market in Qatar poised for growth and opportunities, we are pleased to provide international investors with financing solutions tailored specifically for this purpose and easily accessible, facilitating their participation in Qatar's dynamic real estate landscape”
Maisam Fazal, Chief Commercial Officer at Al Rayan Bank, highlighted the bank's position as the UK’s most successful Sharia-compliant bank and its record financial performance in 2023. He remarked, "Al Rayan Bank is perfectly placed to bring together 50 of our most important customers with Masraf Al Rayan and UDC, to help raise the profile of Qatar in the UK and increase awareness of existing development opportunities that exist in the country."
