Saudi expert calls to ease real estate investment regulations
Al-Riyadh newspaper quoted real estate expert Suleiman bin Sa’idan who said recently that it was important to implement a new investments system in the real estate sector. He added that the Industry and Trade Ministry and the Riyadh Chamber of Commerce must implement the new system thereby preventing big transfers of money from Saudi Arabia overseas. Saudi Arabian investors in 2004 invested SR 30 billion in big real estate projects in the UAE. He estimated that Saudi Arabian investors will invest by the end of 2005, some SR 60 billion in real estate projects in the UAE.