Under the patronage of His Excellency the Minister of Housing, Mr. Majid bin Abdullah Al-Hogail, the largest annual real estate event in the Kingdom of Saudi Arabia will kick off this evening, Sunday, April 24, 2016 «Riyadh Restatex Real Estate Exhibition» at the Riyadh International Convention and Exhibition Center, with massive participation from major real estate and housing development and investment companies, financing companies, and most Saudi banks. The event will continue until the evening of Wednesday, April 27, 2016.
Reflecting the strength of the real estate market
Every year, the Saudi real estate and financial sectors, as well as various segments of society, eagerly await this exhibition, which is the largest of its kind in terms of scale due to the developments, investments, and projects it showcases annually—all of which reflect the reality and strength of the Saudi real estate sector—along with the accompanying real estate financing programs for real estate purchases offered by banks and financial institutions in massive pavilions, alongside projects by real estate and housing companies—particularly from the Riyadh region and from various parts of the Kingdom in general.
Hussein Al-Faraj, President of «Restatex Real Estate» in the Kingdom, said that this year’s Riyadh exhibition—with its scale, the strength and quality of its participants—proves that the Saudi real estate sector possesses the elements of strength and growth in investments, despite the stagnation or decline in cash flows and activities witnessed by other economic sectors.
Regulatory Standards… and Service Quality
Al-Faraj explained that the Riyadh Restatex Exhibition enjoys, in all its editions, broad government support led by the Ministry of Housing and other ministries, agencies, and government bodies involved in real estate and urban development in the Kingdom. This is due, by the grace of God, to the exhibition’s in terms of organizational standards, professionalism, and credibility in serving its partners and clients—including major companies and investment firms in the real estate and finance sectors, as well as banks.
Events, Workshops, and Meetings for Real Estate Elites
Restatex Exhibitions has adopted highly significant events—carefully designed workshops and exclusive meetings for elite real estate sector leaders— thereby enhancing the outcomes and services of this—the Kingdom’s largest annual real estate event—for its clients and partners, including real estate developers, investors, and financial and funding institutions that have been keen to participate in its editions for years.
Alliances and partnerships await the exhibition
Real estate observers expect the Riyadh Real Estate Exhibition to witness a number of alliances and strategic partnerships between financing companies, developers, and contractors, with the aim of securing the largest share of projects on offer for the construction of residential units, shelters, hotels, and a number of government infrastructure projects.
These predictions regarding the emergence of new entities stem from several factors, including the local market’s need for them to manage and execute major projects in the private and government sectors, as well as the precision and speed with which these entities and companies execute vital projects, specifically those located in major cities such as Makkah and Madinah.
Ministry of Housing Policies
Observers believe that the Ministry of Housing’s current policy of establishing new residential cities requires developers to form productive alliances with financing entities, taking into account the Ministry’s intention to build more than 56,000 housing units for those eligible for housing assistance on private land, including the regions of Riyadh, Makkah, the Eastern Province, Ha’il, and Tabuk, with the aim of securing 1,000 housing units in all regions of the country, in addition to agreements with foreign companies.
