Qatar Opens Struggling Property Market to Foreign Ownership - Bloomberg

Qatar Opens Struggling Property Market to Foreign Ownership - Bloomberg:

Qatar will allow foreigners to own property, the latest in a series of measures aimed to stimulate the gas-rich country’s economy more than a year into its boycott by Gulf neighbors.

Under a new law issued Tuesday by Qatar’s Emir Sheikh Tamim Bin Hamad Bin Al Thani, foreigners will be able to own property in areas designated by Qatar’s cabinet, according to the official Qatar News Agency.

Qatar, the world’s biggest exporter of liquefied natural gas, has used its wealth to blunt the effects of an embargoed imposed by Saudi Arabia, the United Arab Emirates, Bahrain and Egypt in June 2017. Its economy is growing, the stock index recouped losses, and its $200 billion infrastructure upgrade to prepare for the 2022 World Cup hasn’t been interrupted.