There have been rapid developments and transformations in the real estate world; it requires attention, as it is directly affected by decisions and regulations such as stopping land plans, increasing the value of the added tax, white land fees that will launch its second phase after the maturity of the first phase, and building code that will launch its second phase at the beginning of the Hijri year 1442 AH
The new regulation of the market, the rapid movement of the state and its grip on it before the opening and operation of trains and transportation services, and what we are witnessing from the development of streets, sidewalks, afforestation and improvement of tourist areas in historical neighborhoods, makes the investor and the real estate student confused and hesitant.
What we are currently witnessing in the large market impact in commercial real estate and the complete vacancy of some of them will cause visual distortions that need thought to be addressed in the future, This is in addition to the investment opportunities offered by the municipal affairs secretariats in all major cities with high density, health, and state-owned properties, in addition to the investment opportunities offered by the municipal affairs secretariats in all major cities with high density, health, and state-owned properties.
There is no doubt that these opportunities need a local and international professional marketing force and a concerted effort with the Council of Chambers and businessmen to encourage local and foreign investors and present them in an encouraging way for all, while choosing the best use that meets the needs and well-being of the citizen with the initiative to raise the quality of life.
The General Authority for State Real Estate is expected to utilize its external and internal properties in coordination with other government agencies; offering these properties to tenants to benefit from them in the absence of investors or operators, such as schools and courts, whose number of rented branches is estimated at about 450 properties, and to be headquarters for other government offices.
The predictions indicate that this organizational move in rentals will raise the level of competition and reconsider properties that are not compatible with the quality of life and rapid development, and will create a competitive market in prices and other features such as parking lots, gardens and designs.
