The Jeddah Urban Development and Real Estate Investment Exhibition officially kicked off yesterday (Wednesday) with the support of Cityscape, as His Excellency Dr. Hani bin Mohammed Aburas, Governor of Jeddah, officially opened the seventh edition of the exhibition in the presence of a group of dignitaries, decision-makers, and leaders of the real estate industry in the Kingdom, as well as representatives from local, regional, and international media outlets.
This year’s exhibition highlights a diverse range of real estate projects that will contribute to strengthening the Kingdom’s leadership in the real estate sector and its architectural landscape. It also discusses the positive outlook for this sector and the current and future investment opportunities it offers, which will strengthen the sector’s role in supporting efforts to diversify investment sources in line with the Kingdom’s Vision 2030.
The exhibition is being held under the patronage of His Royal Highness Prince Mishaal bin Majid bin Abdulaziz, Governor of Jeddah, and will run through November 4 at the Jeddah Center for Forums and Events, affiliated with the Jeddah Chamber of Commerce and Industry. The event will focus on home ownership opportunities, the development of tourist attractions, and the provision of attractive opportunities for secure real estate investment.
Commenting on the opening ceremony, Mr. Hussein Al-Harthi, Vice Chairman of the Board of Directors and Managing Director of National Exhibitions Company, the organizer of the Jeddah Urban Development and Real Estate Investment Exhibition, said: “Over the next three days of the event, numerous mega-projects will be launched and showcased, which will serve as the cornerstone of a strong real estate sector in the country. This exhibition comes at a crucial time for the Kingdom’s real estate community, as fundamental changes are being made to the country’s economy with the aim of stimulating development and investment efforts.”
Over the next three days, Saudi Selwans will present a wide range of opportunities available in the residential sector. The company will showcase a variety of residential units as part of its Bayat Plaza project, which consists of two adjacent towers in the heart of Jeddah. Bayat Plaza is considered a one-of-a-kind real estate project in Jeddah, consisting of 272 standard apartments, duplexes, and modern penthouses, in addition to 2,600 square meters of retail space on the ground and first floors.
Meanwhile, Saudi Selwans is set to launch the third tower in the Bayat series of real estate projects; this tower will feature 40 floors of hotels and commercial space. In addition, the company will also launch a project in the British capital, London.
Through the financial services and products it offers to visitors, the Saudi Dutch Bank aims to demonstrate its commitment to supporting the Kingdom’s goals of increasing homeownership rates among citizens. This goal—which is part of Vision 2030—aims to restructure the Ministry of Housing to help citizens purchase their own homes.
The bank will launch its home financing and cash loan product, which allows customers to submit a joint application with their spouse or a first-degree relative. With regard to the Kingdom’s tourism sector, this year’s event will feature developers looking to expand the sector and capitalize on the country’s cultural offerings and ecotourism opportunities.
Vision 2030 calls for designating large coastal areas for tourism projects and injecting new investments into museums and historic sites to create internationally renowned tourist attractions.
One of the speakers at today’s workshop, Dr. Subhi Agha, Marketing Director at SAB Real Estate, noted that thanks to major exhibitions such as the Jeddah Urban Development and Real Estate Investment Exhibition, a constructive dialogue can be fostered and developers can showcase projects that specifically meet these needs. In this context, Dr. Subhi said, “This will help advance the steps and measures needed to promote this type of tourism in the country. Initiatives such as these are part of Vision 2030, which will shape the economy over the next twenty years.”
Dr. Subhi added that Vision 2030 encourages developers to build family-friendly beach resorts and to strengthen the country’s position as a global tourist destination. He concluded by saying: “These developers are taking the appropriate steps and measures to encourage people to visit Saudi Arabia, and not just for religious tourism.”
It is worth noting that the events also include the prestigious 2016 Jeddah Real Estate Awards, with the awards ceremony taking place later tonight. These awards aim to honor industry professionals, developers, and architects who have achieved outstanding accomplishments in the Kingdom.
Among the major exhibitors from Saudi Arabia and the Gulf Cooperation Council (GCC) countries participating in this year’s edition are: King Abdullah Economic City, Jabal Omar Development, Lifestyle Developers, Shawn Real Estate, Danube Properties, Al-Marjan Island, Klindinst, Dar Al-Tamleek, Al-Tamimi Prefabricated Buildings Factory, Tilal, Select Global Development, Artar Real Estate Development, Sabha, Al-Wadi Al-Akhdar Real Estate, Barcode Limited, Banki International Properties, Tiger Real Estate Group, Rawa’i Al-Omran Real Estate Development, Mahawir Al-Taqaddum Real Estate, and many other companies.
