Jeddah-Amlak
All preparations have been completed for the launch of the 11th edition of the Jeddah International Real Estate, Finance, and Housing Exhibition (JERX 2013), which will be held at the Jeddah International Center for Forums and Events in Jeddah from March 18 – 21 March under the supervision of the Real Estate Committee of the Jeddah Chamber of Commerce and the Jeddah Municipality and under the generous patronage of His Royal Highness Prince Khalid Al-Faisal, Governor of the Makkah Region.
The exhibition, considered the largest real estate event in the region, will feature a large group of companies and institutions operating in the fields of real estate development and financing, most notably the banks: Al-Bilad, Al-Jazira, Al-Ahli Commercial, Misr Al-Rajhi, Dar Al-Tamleek, and the Ahmed Faqih Real Estate Group, Deutsche Gulf Finance, the Bin Laden Group, the Comprehensive Real Estate Company, Makyoun, and the King Land Group, in addition to more than 80 real estate exhibitors, as well as major real estate financing companies from inside and outside the Kingdom.

Ahmed Al-Muhandis, Chairman of the exhibition’s organizing committee, explained that the volume of real estate investments in the Kingdom of Saudi Arabia has reached more than 2 trillion riyals, making the Kingdom the second-largest real estate market in the world, adding that the real estate sector estimates Saudi Arabia’s need for residential units at approximately 4.5 million residential units by 2020, while the volume of housing finance is estimated at approximately 117 billion riyals annually to utilize 110 million square meters of land suitable for investment to address the growing population, noting that economic statistics estimated the volume of investment in the Saudi real estate sector as having reached a record high of 900 billion riyals by mid-2012, while investment in the building materials industry remains low, accounting for about 9.5 percent of total investment in the manufacturing sector overall. He noted that the growth and development of the building materials industry are linked to the expansion of the construction sector, whose ongoing and future projects through 2020 are estimated to be worth approximately $2.5 trillion for all Gulf countries, including the Kingdom of Saudi Arabia,He noted that the estimated value of real estate projects under construction in Jeddah this year is no less than 200 billion riyals, adding that this figure could double if the pace of construction accelerates.