Real estate investors in Saudi Arabia's Eastern region have been demanding to develop the activities of the real estate exhibitions held in the region, describing its current way of work as a "supermarket", reported the Saudi newspaper Al-Watan on November 10.
These demands were raised ahead of the Real Estate and Housing Exhibition in Dhahran, slated to open on November 19. The investors emphasized the need in turning this exhibition into a meeting of those involved in the real estate sector and called for improvement of the working methods in the real estate sector.
Abd Al-Aziz Al-Mansur, an expert in evaluation of real estate assets, suggested that the secretary of Al-Damam municipality will hold a special section in the current exhibition through which it will clarify its role in developing the real estate sector. Al-Mansur suggested also that the ministry of trade and industry will establish a special department for real estate. He added that the apartments market is facing a crisis.
Hence, many prefer to invest in the stock exchange market instead of the real estate sector. One investor, Adel Al-Dussari, said that the exhibition should bring together not only the investors in the sector, but also consumers, industry experts, students and interested people.
