<Mr. Hamad bin Ali Al-Shuwayer, Chairman of the National Real Estate Committee at the Council of Saudi Chambers of Commerce and Industry, stressed the Committee's interest in seeking to build an effective real estate industry and make it a strong partner for economic and social activities and help enable it to achieve its goals with high efficiency. He said that in order to achieve these goals, the committee has developed a strategy that defines its steps and directions to achieve this goal and build a strong and effective real estate industry, and that it is working on its implementation to serve the real estate renaissance, pointing out that the strategy includes four main directions, including participation in the localization, development and regulation of the real estate industry, and the second contribution to encourage capital to invest in the real estate industry.
The Chairman of the National Committee added that the third direction includes seeking to spread a professional culture in the field of the real estate industry and give a positive impression of it to official bodies and local and international investors, while the fourth direction focuses on working to create a supreme real estate authority that serves as a reference to adopt a national policy for the real estate industry and supervise the organization and revitalization of the real estate sector.
He explained that the new real estate regulations that the real estate sector is awaiting the issuance of due to their great importance for the benefit of the real estate industry and contribute to its organization on sound bases that enhance its activities and preserve the rights of all parties involved in the real estate equation include the real estate financing system, the registered mortgage system, the system of monitoring finance companies, the financial leasing system, the implementation system, the new real estate office regulation system, the accredited evaluators system and finally the real estate development guarantee account system.


The most important strengths of the Saudi real estate sector include the stability of the Kingdom, the availability of capital and high savings, population characteristics and high growth rates, the availability of cumulative experience of many parties in the real estate sector, and the availability of distinctive and encouraging infrastructure and facilities. The most prominent challenges facing the sector are the lack of information and data about the market and supply and demand indicators, the lack of regulations that facilitate and determine the regulation of the sector, as well as the multiple government agencies responsible for monitoring these regulations, and the weak professionalism of some of those working in the real estate sector.