With specialized media sponsorship and a strong presence from Amlak Real Estate Newspaper, the Eastern Real Estate, Housing and Urban Development Exhibition «Restatex Eastern Real Estate» concluded its third session, which was launched on January 15 and continued until 19, with the honor and patronage of His Royal Highness Prince Saud bin Naif bin Abdulaziz, Governor of the Eastern Province, held at the Dhahran Expo Exhibition Center, supported by the Eastern Chamber, the strategic partner of the exhibition, with the participation of major real estate companies and relevant government agencies.

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Optimism prevails at the opening ceremony

In a festive atmosphere dominated by optimism for a new real estate year, His Royal Highness Prince Saud bin Naif bin Abdulaziz, Governor of the Eastern Province, cut the opening ribbon in the presence of His Excellency the Governor of the Eastern Province, Engineer Fahd Al Jubeir, amid a large number of government officials, companies and leaders of the real estate sector and the Chairman and members of the Board of Directors of the Eastern Chamber and a group of businessmen and social figures.

His Highness was briefed during his tour of the exhibition pavilions, large housing and tourism real estate projects and financing programs that participate with huge offers in the activities of the Eastern Real Estate Restatex exhibition, which is held with great success and with wide participation from the most prominent real estate and housing development companies, local banks and a group of financing companies that will provide solutions and financing programs for the purchase of housing and real estate units for citizens who visit the exhibition, which is the largest real estate exhibition in the region.

His Highness was briefed on the exhibition pavilions, large housing and tourism projects and financing programs that participate with huge offers.

Multiple projects. Residential-Commercial-Tourism

In his speech, Mr. Abdulrahman bin Saleh Al-Attishan, President of the Eastern Province Chamber of Commerce - the strategic partner of the exhibition - thanked and appreciated His Highness the Emir of the region, appreciating his honor for the opening ceremony of the exhibition, which comes as a continuation of the support and follow-up of His Highness for the development, urban and housing projects in the region.

For his part, Hussein Al-Faraj, CEO of Restatex Real Estate Exhibitions in the Kingdom, stressed that this year's Sharqiya exhibition is the largest in its size and participation in its activities is an important economic event that highlights the strength of the investments of the region's real estate companies, the size of their capital and the diversity of their real estate products between residential, commercial and tourism.

Al-Faraj stressed the strength of the response by real estate companies that presented many new strategic projects that confirmed the real estate market to maintain its leadership on the local and regional economic map, where the pavilions participating in the exhibition covered the entire exhibition halls available at the Dhahran International Exhibition Center, indicating that the number of participants 39 real estate companies, government agencies, banks and leading financing companies.

The number of participants is 39 real estate companies, government agencies, banks and leading financing companies.

Achievements of real estate and housing development companies

And from the real estate products offered in its various segments, a large number of specialists and observers agreed on the excellence of this session, which reflected the trends of the real estate market in 2017 as the first real estate and economic event of the year, which is the largest and most important platform to highlight the achievements of real estate and housing development companies in the region, which is not devoid of surprises and investments that will revive the market in 2017, after a long waiting period; This is due to the content of housing projects offered by participating companies, and the multiple channels for financing and housing purchase programs offered by banks and financing companies, which increased the demand for visitors from housing seekers, investors and companies with

Workshops and dialogues revealed the way forward

On the scope of the accompanying events, the exhibition witnessed workshops and panel discussions on many current real estate issues and initiatives launched by the Ministry of Housing, which dealt with the reality and future of the Wafi and Etijam programs at the Ministry of Housing, the role of the Ejar network in regulating the rental sector, and the workshops touched on the real estate price index, The workshops also included a discussion on the reality and future of real estate financing, and these workshops witnessed important discussions during the days of the exhibition and meaningful dialogues that cleared the way for many obstacles and removed the fog in some real estate issues, Officials from the Ministry of Housing, the General Authority for Statistics, the Eastern Province Municipality, the Real Estate Committee of the Eastern Chamber, financial and banking leaders, and recorded in all its sessions attended by those interested in real estate, housing and financing exceeded all expectations, and provided direct communication, especially between officials of the programs and initiatives of the Ministry of Housing on the one hand and the heads and leaders of real estate and housing development companies and investors in the residential and commercial development and leasing sector.

" Housing reveals 41857 real estate units within the off-plan sales program

The participation of the Ministry of Housing in the Eastern Real Estate, Housing and Urban Development Exhibition, "Restatex Sharqiya", received attention and wide echoes from the public and real estate companies through its presentation of the Developer Services Center "Completion", which is a unified portal for real estate developers, through which the developer can obtain all facilities for approvals and licenses necessary for the implementation of residential and commercial residential projects, through several agreements with the concerned authorities that facilitate the procedures for developers to obtain the necessary licenses for real estate development activities.

The Ministry revealed during its pavilion at the exhibition more than 41857 thousand real estate units at the level of the Kingdom supervised by the off-plan sales program "Wafi" with a total value estimated at more than 48 billion riyals, in addition to the services provided by the program from licenses for the sale and rental of real estate units on the map, licenses for the sale of land on the map, licenses to market internal or external properties on the map within the Kingdom, licenses to display internal or external properties on the map in exhibitions within the Kingdom, and introduce the new regulations of the off-plan sales system and the requirements for obtaining the necessary licenses to practice real estate activities.

The Ministry was also keen through the exhibition to provide an integrated definition of the "Ejar" program, which is an advanced electronic network that provides integrated solutions to regulate the rental sector, putting all parties to the rental process in one virtual place that preserves their rights, in addition to ensuring the benefit and full use of the rented residential unit and the commitment to apply the terms of the unified contract to be launched in the coming period, while introducing the requirements for real estate brokers to join the electronic portal.

The Ministry was also keen through the exhibition to provide an integrated definition of the "Ejar" program.