Saudi expert highlights real estate investment risks
Saudis trust real estate investment. They believe real estate investment always pays off. However, Arab News reports on many cases which small Saudis invest in real estate projects but never see any profit from their investment. A real estate expert, speaking to the newspaper, placed the blame on the lack of supervision by the Saudi Ministry of Commerce. "This encouraged many people to apply for permit for real estate investment, collect as much money as they can get and then escape the country," he was quoted as saying.