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
 Sep 26 2016 - Qatar, Indonesia USD1b joint fund to start operationMENAFN
(MENAFN) USD1bn mutual investment fund launched by Qatar and Indonesia in its finishing stages and will fund main infrastructure and energy projects.Additionally, Indonesia"s 15pct share of the fund ...

 Sep 26 2016 - Abu Dhabi's Dh4b Medical City to be ready by 2017MENAFN
(MENAFN) Work on Dh4bn Shaikh Shakhbut Medical City will be completed by the beginning of Q4 of 2017.Accordingly, Abu Dhabi General Services Co. (Musanada) exposed that 87 percent of the works has ...

 Sep 26 2016 - Four Rums for right now!MENAFN Press
(MENAFN Press) Four Rums for right now! These four rums are perfect to beat the end of summer and beginning of the fall.— Forrest Cokely SEATTLE, CA, USA, September 23, 2016 ...

 Sep 26 2016 - New Interview Released with the Environment Agency in run-up to Energy from Waste 2016MENAFN Press
(MENAFN Press) New Interview Released with the Environment Agency in run-up to Energy from Waste 2016 An Interview with the Environment Agency Energy from Waste 2016 Quick Fire Q & A released ...

 Sep 26 2016 - Jordan- Moderate weather conditions forecast over next two daysJordan News Agency
(MENAFN - Jordan News Agency) Amman, Sept.26 (Petra) -- A slight drop in temperatures is expected on Monday, but moderate weather conditions started early this week will continue to prevail across ...

 Sep 26 2016 - Egypt petrol subsidy drops by 29pctMENAFN
(MENAFN) Egypt's spending on petroleum subsidies declined by 29 percent in the 2015-16 financial years compared to one year earlier.Accordingly, the subsidies fell by 23 percent, to USD71.36bn for ...

 Sep 26 2016 - Saudi Arabia to inject 20b riyals for fiscal stabilityMENAFN
(MENAFN) Saudi Arabia proclaimed that it would inject almost 20bn riyals at commercial banks and introduce two new money market instruments to avoid a surge in market rates.Moreover, it will also ...

 Sep 26 2016 - Volume of UAE, South Korea trade stood at AED122.7 billionEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 25th September, 2016 (WAM)--The total value of trade between the UAE and South Korea reached AED122.7 billion from 2010 - 2015, of which AED115.8 ...

 Sep 26 2016 - UAE- Abdullah bin Zayed host reception in New YorkEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) NEW YORK, 25th September 2016 (WAM) - H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, hosted a ...

 Sep 26 2016 - Mohammed bin Rashid visits Bloomberg HQ in Dubai, meets chairmanEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI, 25th September, 2016 (WAM)--Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has stressed ...

more...


 





Google

 
 

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