Sami Al Asiri, CEO of Nazl Saudi Real Estate, stressed that the strong partnership adopted by the Ministry of Municipal and Rural Affairs and Housing with the private sector through the residential program and the development of clear strategies are in line with Vision 2030 and bring this partnership to the joint success between the private sector and the Ministry of Housing.
Sami Al Asiri, CEO of Nazl Saudi Real Estate Company, stressed that the strong partnership pursued by the Ministry of Municipal and Rural Affairs
The number of housing products doubles
Asiri told Amlak newspaper that this partnership led to the success of the private sector in contributing to the ministry's plans and directions and providing adequate housing for the Saudi citizen, pointing out that 155077 housing units were provided through 137 real estate development projects, and Asiri expected these numbers to double in the coming years.
Asiri said in an interview with Amlak newspaper.
Changing the traditional idea of real estate development
About the positive impact of the qualitative projects that have been organized in the Kingdom, Al Asiri says that the presence of large projects in the real estate market in the Kingdom in its various regions such as "Al Jadida, Roshan, the Red Sea project and The Line" has a great positive impact on the real estate market as it opens new horizons for real estate development and the use of modern construction technology and the highest quality rates in construction and infrastructure, which will change the traditional idea of real estate development to an organized and advanced idea that belongs to the future and uses advanced systems that suit the aspirations of new generations and the rapid technological development and give the Saudi citizen a quality of life that suits him and provides him with a quality of life that suits him and provides him with the best quality of life for his family.
Using technology Building systems and methods
Asiri expected that companies will change their future plans and strategy by producing projects that achieve the balance of supply and demand and meet the desires of the new purchasing power and enhance the existing supply in the market, and indicated that the coming period will witness the use of technological development in building systems and methods and follow a new thought that suits the future, and new types of energy that preserve the environment will appear to include gardens and green spaces with large areas that help the Saudi citizen to grow in a healthy society developed in line with the times.
6 real estate market challenges
As for Amlak's question, what are the most important challenges that the real estate market could face through the expected boom? Al Asiri spotted some challenges that require quick intervention as follows:
Developing technological systems that speed up government procedures and suit the requirements of the market.
Organizing and changing real estate financing procedures that speed up sales and make it easier for the developer and the citizen to complete the sales procedures quickly and easily.
Implementing effective and organized corporate governance.
Study the projects better to ensure accelerated implementation of infrastructure works (water, electricity, sewage, etc.) for the projects in a way that helps the developer to deliver the units to citizens according to the unit delivery strategy.
Recruiting the best expertise from qualified engineers and technicians to implement modern building systems.
Supporting small developers to help them keep pace with market development and participate in real estate development plans and strategies more effectively.
