Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi - Kingdom's real estate market enjoying enormous prosperity  Join our daily free Newsletter

MENAFN - Arab News - 11/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) The Cityscape exhibition in Riyadh is considered a good opportunity for citizens and residents to acquaint themselves with the volume of real estate projects that are being implemented in the Kingdom as well as in the region, said Riyadh Mayor Abdullah bin Abdulrahman Al-Muqbel.
He opened the fourth annual Riyadh urban development and real estate investment event in Riyadh, on behalf of Riyadh Gov. Prince Khalid bin Bandar
In the wake of the renaissance in various urban activities, he said such exhibitions are an opportunity for individuals, private and public sector firms to identify activities to help the concerned parties plan and work out current and future investment programs.
Highlighting the significant participation of the Higher Commission for Development of Riyadh (HCDR) at the event, Al-Muqbel said the HCDR is exhibiting the public transport project due to the fact that there is a close relationship between urban development and the public transport project s and their contribution to the overall development in the city in all areas.
Husain Al-Harthi, chairman of the National Exhibition Company, said the real estate market in the Kingdom is enjoying enormous prosperity not only in terms of the number of developers but also in the solid presence of major financial institutions.
The government efforts come consistently with the growing real estate boom witnessed by the market aimed to support its growth and reflect its vision for the future of the capital through a number of major projects, especially in the infrastructure sector and public services such as public transport, hospitals and schools, he said.
He said the exhibition is considered a mirror to reflect the care given to the real estate market by specialized real estate firms and local and regional investors.
Flash Real Estate Company is actively participating in the event as representative of real estate brokers in the UAE.
The company is keen to availing itself of investment opportunities in the Saudi market and also to attract Saudi investors to the UAE promising markets, said a top executive.
In this context, Muhannad bin Hazail, representative of Flash Co, said they were targeting Saudi investors and foreigners residing in the Kingdom by providing them a wide range of real estate products, housing or commercial, notably two key projects: the Polo Residence Project which has 29 buildings composing some 600 apartments and occupying 2.5 million square meters, and, secondly, EK Residence Project having 29 buildings and contains a variety of entertainment, social and public service projects.
Mohamed Al-Jasir, deputy CEO of Maceen Capital, said real estate investment sector in the Kingdom is one of the biggest and flourishing industries in the Kingdom.
He expected that the real estate market in the Kingdom would witness a major restructuring process due to issuance of new legislation which will create new property products and services.
Some 50 local and international companies in the field of real estate planning and development, architecture and banking are taking part in this year's event to showcase their products and services and network with international investors and decision makers from the private and public sector.
The Cityscape Riyadh Real Estate summit featured the opening remarks by Tarek Ramadan, chairman, Tharaa Holding, who discussed the driving forces for the evolving Riyadh and greater region, reviewing factors promising to change the face of Riyadh and the surrounding area.
Among the topics that will be taken up for discussion include: new real estate opportunities created by the Kingdom's infrastructure initiatives; new urbanism in Saudi Arabia; ways to improve construction contracting on real estate projects; risk management for large scale developments in Saudi Arabia; ways to combat recent labor shortages; and Investment returns for real estate in Saudi Arabia.
The second day of the summit will feature two sessions; Funding the Visions, which will discuss topics titled Going Abroad for Cash and Risk Management Techniques; and The Lure of Something New which will discuss the creation of a financial empire, namely Saudi Arabia's own Wall Street, and how to accomplish the vision of a technologically and academically advanced center of finance.


 


Arab News




  MENA News Headlines
 Apr 25 2015 - Dubai's Damac Q1 net profit down 38 percentMENAFN
(MENAFN) Dubai's Damac Properties reported a 38 percent fall in first-quarter net profit, despite surging revenue, because of the effect of a big one-off gain a year ago, Emirates 24/7 reported.The ...

 Apr 25 2015 - Saudi Cable signs USD170.7m debt restructure dealMENAFN
(MENAFN) Saudi Cable Company said in a statement that it has signed a deal with three of its main lenders to restructure USD170.7 million of debt, Arab News reported.The debt will be restructured ...

 Apr 25 2015 - Saudi petrochemical firms combined profit down in Q1MENAFN
(MENAFN) Saudi Arabia's first-quarter corporate earnings were generally weaker than expected, a sign that foreign investors should be cautious as the stock market opens up to them this year, Arab ...

 Apr 25 2015 - EU migrant rescue ships head for LibyaThe Peninsula
(MENAFN - The Peninsula) British and German warships made ready to sail for waters off Libya as Europe ramped up rescue operations in the Mediterranean after up to 900 desperate migrants drowned last ...

 Apr 25 2015 - Qatar- Al Rayyan thrash Al Markhiya as Emir Cup kicks off in styleThe Peninsula
(MENAFN - The Peninsula) Football giants Al Rayyan yesterday celebrated their ascent to Qatar Stars League (QSL) by crushing Markhiya 5-0 in their opening Emir Cup clash.Al Rayyan were demoted to the ...

 Apr 25 2015 - Qatar- 'Desert King' Al Attiyah is unstoppable on home soilThe Peninsula
(MENAFN - The Peninsula) Qatar's Nasser Saleh Al Attiyah, Spain's Marc Coma and Poland's Rafal Sonik each confirmed their third victories at the Sealine Cross-Country Rally in four years in the car, ...

 Apr 25 2015 - Qatar- Al Attiyah wins Sealine RallyThe Peninsula
(MENAFN - The Peninsula) Dakar Rally champion Nasser Saleh Al Attiyah yesterday said healthy time lead on the first three days set up his title win at this week's Sealine Cross-Country Rally. The ...

 Apr 25 2015 - Qatar- Stafford Sri Lankan School Doha celebrates New YearThe Peninsula
(MENAFN - The Peninsula) Stafford Sri Lankan School Doha celebrated the Sinhala and Hindu New Year recently by organising many traditional dances, games and competitions. The celebration, which ...

 Apr 25 2015 - Qatar- North Indians' Association celebrates BaisakhiThe Peninsula
(MENAFN - The Peninsula) North Indians' Association celebrated the harvest festival Baisakhi recently at Al Ghazal hall. Nearly 200 members joined the cultural programme organised by the association ...

 Apr 25 2015 - Qatar- Visa trading is illegal and punishableThe Peninsula
(MENAFN - The Peninsula) Qatari law sets strict punishment for visa traders with aim of preventing trade of illegal visas because every single illegal work visa adds an unemployed worker. If he/she ...

more...


 






Google

Arab Advisors_12th convergence conf

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help