According to Al-Sharq newspaper (June 22, 2005), a senior official at the Qatari Ministry of Economy and Commerce denied rumors about issuing a permit for establishing a new private real estate joint stock enterprise company in Qatar. The official asserted that no one has applied for establishing such a company.
Recent rumors speculated that many Qataries have been subscribing to a newly established real estate company by a QR 300 million capital. The rumors also mentioned that the new company is seeking to buy land from the government to build 3,000 residential apartments.
