The fourth edition of the Saudi International Real Estate Conference «SAIRC 4,” titled «The Role of the Real Estate Sector in the National Transformation Program,» from May 15–16, 2016, in the capital city of Riyadh, under the patronage of Minister of Housing Majid bin Abdullah Al-Hogail, with broad participation from government and private entities related to the real estate sector, as well as a select group of local and regional speakers.
The National Real Estate Committee of the Council of Saudi Chambers announced this during a press conference it recently organized at the Council of Saudi Chambers headquarters, during which it revealed the conference agenda and sessions, which will cover four main themes: the real estate sector’s contribution to the National Transformation Program; the effectiveness of real estate regulations within the National Transformation framework; the efficiency of the financing system in the development of the real estate industry; and incentive programs for the real estate sector.
Dr. Abdulrahman Al-Zamil, Chairman of the Council of Saudi Chambers, addressed the importance of the real estate sector and its role in the process of development and construction as a driver of numerous economic activities. He stated that despite unfavorable economic conditions, the real estate sector has remained active and effective, with numerous real estate projects underway in addition to the housing projects being undertaken by the Ministry of Housing.
Hamad Al-Shuwaier, Chairman of the National Real Estate Committee and Chairman of the Conference Organizing Committee, said that the real estate sector is a key driver of development and is linked to more than 120 economic activities, emphasizing that the importance of the real estate sector necessitated the organization of the Saudi International Real Estate Conference every two years.
For his part, Ali bin Atiya Al-Jaber, Acting Undersecretary of the Ministry of Housing for Planning, Studies, and Programs, emphasized in his speech his ministry’s commitment to working with private-sector partners—represented by the Council of Saudi Chambers and the National Real Estate Committee—to develop the real estate sector due to itssignificant importance to the national economy and its clear contribution to economic development and the creation of job opportunities for Saudi youth.
