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 | Real estate boom attracts investors to Jeddah  | |
MENAFN Press
- 26/05/2011
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(MENAFN Press) Inspired by the vision of the Custodian of the Two Holy Mosques and propelled by the Saudi government's initiatives to implement King Abdullah's decree to hugely increase the number of affordable residential units, the Kingdom is enjoying the biggest real estate boom in the entire Middle East.
With more than US 36 billion of FDI and over US 500 billion of real estate projects already underway, the Kingdom of Saudi Arabia presents some of the most lucrative and accessible opportunities for regional and international real estate investors.
Saudi Arabia's unprecedented real estate boom is reflected in the high level of participation and sponsorship supporting the Jeddah International Urban Development and Real Estate Investment Event - Cityscape Jeddah, to be held 11 - 13 June 2011 at the Jeddah Center for Forums & Events under the patronage of HRH Prince Misha'al bin Majed bin Abdulaziz, Governor of Jeddah. Cityscape is the only real estate event in the region that combines a conference, exhibition and awards.
The two latest sponsors to come onboard are Al Oula and Raysan Arabia, reaffirming that in the space of only three years Cityscape has become firmly established as the premier event for local, regional and international companies and investors participating in or seeking to unlock the potential of the Kingdom's richly rewarding real estate market.
The organizers of the event expect more than 10,000 visitors from 43 countries to attend the three-day exhibition. In addition, more than 200 influential industry leaders from the government, banking, real estate development, consulting and environmental sectors will discuss crucial issues affecting real estate investment and development in the Kingdom during the two-day Jeddah Real Estate Summit running concurrently at the nearby Jeddah Hilton Hotel.
This is the first time Al Oula is participating in Cityscape Jeddah and the company plans to launch a major real estate project during the event that has become an important platform for real estate developers to connect with current and future clients.
Other sponsors of the exhibition include Sumou Real Estate (Principal Sponsor) and Ewaan (Founding Sponsor).
A highlight of the annual event is the awards that recognize outstanding achievements in the Kingdom of Saudi Arabia's real estate sector. The awards are intended as an incentive for the continued pursuit of excellence among participants in the Kingdom's real estate industry and to focus attention on their contribution to architecture, culture, invention and imagination.
The categories for the Cityscape Awards are: Development - Best Waterfront Development Award (Future); Commercial & Retail Project Award (Built & Future); Residential Project Award (Built & Future); Architecture - Best Urban Design & Master Planning Award. Complete event and award details are available at www.cityscapejeddah.com.
About Cityscape Jeddah
Cityscape Jeddah, the Jeddah International Urban Development and Real Estate Investment event provides a platform for the regional and local real estate communities to come together to network, create
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