Saudi Arabia: Real estate projects damage farming
According to Al-Yaum newspaper, the conversion of arable land into residential projects is one of the most difficult decisions to make in light of the currently booming real estate market in Al-Ihsaa region of Saudi Arabia. Real estate investors come from Riyadh, Dammam and other Saudi regions to purchase real estate in Al-Ihsaa. The problem is that the residents of Al-Ihsaa are suffering from real estates shortage since the farms, particularly palms trees, cover most of the local territories and the real estate price in the city is very high.
The per square meter of real estate in the city rises as high as SR 1,300. Mr. Abdul-Rahman Al-Moathen, Real Estate Office Owner in Al-Ihsaa, said that there has to be an urban expansion on the expense of farming territories.
- Munshaat Real Estate Project Company to launch new project in Saudi Arabia
- Abdul Latif Jameel and Emaar Properties sign MoU to develop integrated real estate projects in Saudi Arabia
- Top Saudi property and architecture projects honoured at 2ndCityscape Awards for Real Estate in Saudi Arabia
- Saudi Arabia: First real estate project based on partnership