Deepening the relationship with the private sector

During the opening ceremony, the Minister of Housing, Mr. Majid Al-Haqeel, praised the organization of the Riyadh Real Estate, Housing and Urban Development Exhibition 2016 held at the Riyadh Convention and Exhibition Center, praising the participation of various real estate companies, banks, banks and real estate financing institutions.

Riyadh Real Estate, Housing and Urban Development Exhibition.

Opening the exhibition, he stressed the importance of real estate exhibitions, which constitute good opportunities for citizens to learn about the new real estate and financing products, pointing to the depth of the relationship between the public and private sectors through its focus on the interest of the country and the citizen and participation in comprehensive development, in addition to the various services provided by other participating parties.

The Minister of Housing honored the sponsoring companies and the winners of the prizes allocated by the organizers of the exhibition, which included in its halls and pavilions a large number of exhibiting companies that consider the Riyadh Real Estate Exhibition as the largest specialized event that can provide them with ideal platforms to meet their customers and review the latest products.

Riyadh Real Estate Exhibition is the largest specialized event that can provide them with ideal platforms to meet with their customers and review the latest products.

Ministry of Housing Pavilion

The pavilion of the Ministry of Housing found great interest from visitors as the body responsible for providing adequate housing for citizens, as the pavilion contained various corners highlighting the ministry's current and future projects, programs and plans that aim to provide housing for all citizens with various options, high quality and appropriate price, to an appreciated space for the Real Estate Development Fund that reviewed the aspect of the programs it provides in the framework of pumping mortgage loans that enable citizens to build and buy the housing they want.

The Ministry of Housing's pavilion.

The Ministry of Housing pavilion allowed visitors to learn about the details of the housing projects that are distributed in all regions of the Kingdom and include ready-made housing units of villas, apartments and developed lands ready for construction, integrated with all necessary service facilities such as mosques, schools, health centers, security, commercial, recreational and others.

The Ministry of Housing pavilion allowed visitors to get acquainted with the details of the housing projects that are distributed in all regions of the Kingdom.

Completion, rental, and off-plan sale

The ministry revealed at its pavilion the establishment of the Developer Services Center (TAMAMAM), which includes representatives of ten government agencies, It aims to stimulate local and international developers with competence in the field of construction and reconstruction to contribute to pumping one million housing units until 2020 and suit all segments of society, and the exhibitors at the ministry's pavilion introduced visitors to the white land fees system, which is approaching final implementation after the completion of work on its regulatory regulations, and the Housing Data and Monitoring Center, which provides accurate information on the reality of housing in the Kingdom that helps the ministry to implement and launch its various projects.

The pavilion also provided an introduction to the off-plan sales system, the "Ejar" system, which seeks to regulate the rental market and guarantee the rights of the parties to the rental process through an integrated electronic portal characterized by its ease and clarity, as well as the Owners Union program, as well as the Real Estate Development Fund systems such as additional loan, accelerated loan and others.

Also, the pavilion provided an introduction to the Real Estate Development Fund (REF).

Diverse seminars and workshops

The exhibition was not only a place to showcase real estate and financing products, but also a series of accompanying events throughout the four days that included lectures, seminars and workshops on the reality of the housing market in the Kingdom and mechanisms to support and develop it, in addition to discussing the plans and programs of the Ministry of Housing and its efforts in developing urgent housing solutions, including activating its partnership with the private sector represented by real estate developers to contribute to pumping more housing units with diverse options, high quality and appropriate price in all regions of the Kingdom.

The programs included the workshop "Updates of the Ministry of Housing's vision in partnership with local and international real estate development companies" presented by Dr. Bandar bin Burjas Al-Abdulkareem, "Executive Procedures in the Owners" Associations Project" presented by Mohammed bin Faisal Al-Muammar, Director of the Owners" Associations and Real Estate Units Sorting Program, and "Objectives and Program of the Developer Service Center" presented by Engineer Mansour bin Mansour Al-Washmi, Director of the Developer Service Center at the Ministry.

The programs included the workshop "Developing the Ministry's Private Sector Partnership with Local and International Real Estate Developers

Competition and various offers for companies

The Saudi real estate and financial circles and various social segments followed this exhibition, which is the largest of its kind and size for what it represents and transmits annually of developments, investments and projects that reflected the reality and strength of the Saudi real estate sector, where the offers varied with many options that allowed the citizen and visitor to choose according to their needs, as many residential, commercial and investment projects were reviewed inside and outside Riyadh.

The exhibition was followed by the Saudi real estate and financial circles and various social segments.

Banks and financial and financing companies enriched the exhibition squares with their presence and interaction with visitors wishing to finance real estate, and drew attention to the large number of reviewers and inquirers about offers, especially after the Monetary Authority reduced the down payment rate from 30% to 15%, which prompted citizens to rejoice in this step.

25K visitors bring hope

Perhaps the presence of more than 25 thousand visitors to the exhibition puts the real estate market in the expected recovery, as their desires varied between those who want to buy directly from the exhibiting developers, between those who want financing and between investors looking for a property that suits their activity, as everyone at the exhibition was busy in their work and devoted their time to answering the questions and inquiries of visitors who notice their definite desire to get what they want.

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This situation left by Riyadh Restatex 19 promises the return of the real estate market to its normal situation, especially in light of the recent trends of the state to move forward in building one million housing units until 2020, this will cast a shadow on the strength of the real estate market where competition will be strong and will definitely be in the interest of all parties, which means the return of balance between supply and demand.