Investing in emerging neighborhood services Feasibility Study. (1)

Nasser Al-Turki: Financial risks surround luxury projects in emerging neighborhoods

Mohammed Al-Sharif: Investor must research the customer before starting the project

Mohammed Al-Khashan: Success in investment depends on the quality of projects that serve human beings

Poll: Sulaiman Al-Hassan

The city of Riyadh began to take its future features by urban expansion in emerging and new neighborhoods after the completion of its infrastructure, and accordingly the investment movement in these areas has been active, especially luxury services, entertainment and cafes projects, and at the same time Amlak noticed the lack of shops and providers of basic services needed by the residents of the neighborhood.

The newspaper conducted a wide poll on the importance of diversifying investments in these neighborhoods according to a feasibility study that meets the desires of the citizen.

The newspaper conducted a wide poll on the importance of diversifying investments in these neighborhoods according to a feasibility study that meets the desires of the citizen.

Turkey: A risky venture

Nasser Al Turki, owner of Al Turki Real Estate Investments, stressed that the great momentum that has been accompanying the luxury and entertainment projects in the emerging neighborhoods of Riyadh is surrounded by many financial risks that may be unfortunate consequences of this adventure, especially since these neighborhoods have a very small population.

Al-Turki noted that most of these projects that do not perform basic services were not based on a feasibility study, and even the studies that were done for some projects were not successful; they were wrong in the calculations.

Al-Turki pointed out that the residents of these neighborhoods need education, health services, parks and gardens, and all the elements of life, pointing out that there is a clear struggle to obtain these services, causing the waste of money and time by going to other neighborhoods.

Al-Turki pointed out that most of these projects that do not perform basic services were not based on a feasibility study.

Sherif: The danger of copying successful projects

For his part, Mohammed Al-Sharif, Smart Platform Company, said that many people cannot stay in the market due to their belief in achieving gains and profits easily and quickly since they started the project, and these incorrect concepts did not take into account the conditions and nature of commercial projects, and he called on those who are about to invest to develop a plan to win the goals.

Mohammad Al-Sharif Al-Sharif explained that one of the first steps of safe investment is to search for the issue and need in the project area, stressing that new projects specialized in luxury services are unfortunately carried out without feasibility studies, in addition to the little experience of workers and their lack of professionalism in the field, and pointed to the phenomenon of copying and cloning successful projects, warning that these projects may have available profit factors in some neighborhoods and main streets; therefore, they often do not succeed in others.

These incorrect concepts have not taken into account the circumstances and nature of commercial projects, and he called on those who wish to invest to develop a plan to win the goals. Al-Sharif pointed out that emerging neighborhoods need basics at the entrances of the neighborhood, and after its success and the prosperity of the area demographically, other projects are considered, and he gave his advice to anyone who wants to invest to start with plans and design and then (search for the customer before starting the project).

Khashan: Investment outlook

Mohammed Al-Khashan, a real estate marketer, believes that success in investing in emerging neighborhoods depends on the quality of projects that serve the people of these neighborhoods, especially if they are integrated, and other projects that stabilize and increase the population, especially health and educational facilities, as well as large markets and malls where they go and find all family requirements under one roof, indicating that the dispersion of services burdens the citizen and scatters the efforts and money of investors.

Mohammed Al-Khashan Al-Khashan explained that the investor by the nature of his activity is familiar with the elements of success, and always sees the eye of the future, which does not care much about quick profit, but wants to strengthen his brand in the new neighborhood, as most large companies do.