The recent Jeddah City Development and Real Estate Investment Exhibition in Jeddah had a large and remarkable presence, but unfortunately most of them are foreign companies that offer products outside the country. National companies stood out, including Sondos, which offered investment land projects and King Abdullah Economic City, and one of the national companies that offered apartments worth 1.6 million riyals, characterized by its Saudi location, taking into account its privacy in general.
Jeddah City Development and Real Estate Investment Show.
As well as the lack of offers for ready-made residential units such as villas, only one company is selling duplexes in Abhar Al Shamaliya (SAR 1.8 million). Most of the active exhibitors were marketing companies for projects in Dubai, Turkey, Bosnia and Morocco, and the show also saw a small number of specialized organizations related to financing and banks.
The most prominent thing that stood out from the exhibition was the high demand for housing units and the lack of offers of local housing products that are priced according to the affordability of housing seekers, as prices are unfortunately still unreasonable.
The most active exhibitors were marketing companies for projects in Dubai, Turkey, Bosnia and Morocco.
It is necessary to mention here the efforts made by the Ministry of Housing, the Ministry of Commerce and the Saudi Authority for Certified Valuers and Building Cooperation, which we hope in the coming period to encourage and facilitate real estate development procedures and contribute greatly to the gap between supply and demand, especially since their role has become integrated and influential through the great movement it is doing, and they will be able to adjust prices and make them logical and commensurate with the capabilities of citizens.
From the impressions of visitors to the real estate exhibition and other previous exhibitions, it is clear that the real estate market still needs a lot of developers and more housing products, not as rumored in some media and social media. We hope that the white land fees are not counted on too much or the individual efforts of the owners.
It is necessary to get out of this crisis by forming organizations that help landowners in developing them through partnerships between businessmen in construction and financing, as most landowners do not mind entering into partnerships from investment funds.
Most landowners do not mind entering into partnerships from investment funds.
The goal is for everyone to join hands and help provide successful solutions to obtain more housing for citizens according to their capabilities and desires.
