2014: the year Saudi Arabia's real estate sector reveals its new face
Attracting global interest in the Kingdom’s buoyant real estate sector, Cityscape Jeddah expects an estimated 8,000 visitors to attend the three-day event that presents developers from KSA and the GCC
Click here to add Abdullah Bin Mahfouz as an alert
Disable alert for Abdullah Bin Mahfouz,
Click here to add Ewaan Global Residential Company as an alert
Disable alert for Ewaan Global Residential C ...,
Click here to add Jeddah as an alert
Disable alert for Jeddah,
Click here to add Majid bin Abdulaziz as an alert
Disable alert for Majid bin Abdulaziz,
Click here to add Ministry of Housing as an alert
Disable alert for Ministry of Housing,
Click here to add Misha as an alert
Disable alert for Misha,
Click here to add National Exhibitions Company as an alert
Disable alert for National Exhibitions Company,
Click here to add Riyadh Al Thagafi as an alert
Disable alert for Riyadh Al Thagafi,
Click here to add Sumou Real Estate as an alert
Disable alert for Sumou Real Estate
The year 2014 is all set to witness huge achievements in the Saudi real estate industry, especially the housing sector in which the private sector is now playing a greater role in supporting the government’s initiatives.
Experts from Saudi Arabia and the region will discuss the challenges and opportunities awaiting the real estate sector at the 5th annual Jeddah Urban Development and Real Estate Investment Event – Cityscape Jeddah 2014 which is to be held under the patronage of Prince Misha’al Bin Majid Bin Abdulaziz, on May 4-6 under the theme “Kingdom on the Rise”.
The Kingdom really is on the rise and the real estate sector is expected to benefit from the huge funds injected by the government into the housing market, such as the decision to further support housing by allocating SR250 billion to construct 500,000 units.
Also, after years of planning and continuous hard work, the Ministry of Housing’s efforts have started to pay off and tangible results have begun to surface including the launch of the eligibility rules and Iskan gateway last week, which will reveal the real size of the housing problem and who really needs support from the ministry.
Another factor that will boost the real estate market is the availability of home mortgages enabling individuals and families to become homeowners. Furthermore, massive investment in mega infrastructure projects such as the economic cities and general transportation plan are giving an even bigger boost to the sector.
Riyadh Al Thagafi, CEO of Ewaan Global Residential Company, said: “We expect to see new market dynamics in 2014, especially with the efforts the Ministry of Housing are making to spin the wheel of development. Developers from across the Kingdom have been recently engaged in a series of meetings with the Ministry discussing means of collaboration to solve the housing shortage estimated at 200,000 units a year.”
Attracting global interest in the Kingdom’s buoyant real estate sector, Cityscape Jeddah expects an estimated 8,000 visitors to attend the three-day event that presents developers from KSA and the GCC with a platform to showcase new projects and connect with customers and industry professionals.
In addition, the two-day, Jeddah Real Estate Summit Workshops organized alongside the exhibition, has become the premier forum where regional and international leaders meet to discuss growth and investment strategies, along with the most recent innovations and developments in the real estate sector.
Dr. Abdullah bin Mahfouz, Chairman, National Exhibitions Company, organizers of Cityscape Jeddah, said: “Cityscape Jeddah brings together regional and international investors, developers, architects and designers, governmental authorities, key decision makers and senior executives involved in the design and construction of public and private real estate developments. These are the people who have the power to influence and shape the curve of Jeddah’s real estate market.”
The Real Estate Summit this year is going to focus on hot topics which include: how to ensure a quality workforce; forecasts for the Kingdom’s real estate sector; ways to mitigate against project cost fluctuations; emerging KSA market niches with strong ROIs; and frank discussions on how to improve KSA’s legal landscape for the property market.
Adding something new this year, Cityscape Jeddah 2014 includes a Mortgage Clinic where professional advisors will help aspiring home buyers to learn about the new laws, what banks will ask of a mortgage candidate, what mortgage products are available, and what protection the law provides.
A highlight of Cityscape Jeddah 2104 will be Cityscape Awards for Real Estate in Saudi Arabia, which will be presented on May 5. The awards are a prestigious annual event that recognizes and rewards industry professionals and companies who have shown outstanding real estate development and architecture for both built and future projects in the Kingdom.
Supporting the vision for growth in the real estate industry, the Jeddah Urban Development and Real Estate Investment Event - Cityscape Jeddah 2014 is sponsored by Sumou Real Estate (principal sponsor) and Ewaan Global Residential Company (founding sponsor) along with Sobah Hartland and Flash properties as gold sponsors.
There is no doubt that Jeddah Urban Development and Real Estate Investment Event - Cityscape Jeddah is the leading real estate event in the Kingdom, supporting the government’s vision for growth in the real estate industry, highlighting iconic architecture and innovative development, and providing direct access to the region’s biggest real estate market – Saudi Arabia
- Al Tayer bucks the US department store trend with Bloomingdale's Kuwait opening
- Jordan raises $400M for first phase of Red-Dead project
- Coca-Cola inaugurates $20M bottling plant in Gaza
- Sotheby's to open Dubai office as MENA falls for the lure of the auction
- Saudi to use 3D-printing to tackle housing crisis
- DIAC Report Reveals 500,000 Manpower GAP in Construction and Real Estate Sector
- Saudi Arabia expected to face housing shortage
- Saudi Arabia: Challenge facing Saudi real estate sector
- Saudi Arabia: Problems of real estate sector to be discussed
- Women play 'important role' in Saudi Arabia's real estate sector