Vision 2030 achieves its strategic goalof diversifying the economy

• Riyadh is the target destination and ranks among the top ten economic cities in the world
• The real estate industry in Saudi Arabia has flourished significantly and has become one of the most important pillars of the economy
• The increase in demand for real estate is due to the activity of
• Great facilities for foreign investment by providing support in the Saudi real estate market
• The government's housing initiatives will increase home ownership rates

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Despite the impact of the coronavirus on the global economy, and predictions of the loss of companies" future aspirations for the economy of their markets, until the limit was reached and the pot boiled over, the repercussions of the Corona pandemic continued to affect the fields of investment, falling sharply, debts rise and job losses occur.

Studies for future projects predicted an increase in financial vulnerabilities, and the global economy slowed down as it went through the most difficult financial distress, and the Kingdom of Saudi Arabia stood in defiance of this crisis at a time when it is not possible to take risks, to take advantage of this situation in investment in general, especially investment in the real estate field.

Saudi Economy Faces Coronavirus Crisis...

The Kingdom is witnessing five years since the launch of its Vision 2030, which was launched on April 25, 2016, and the Saudi economy has become stronger and able to face crises and recessions during the Corona period, and oil is no longer the only source of Saudi income, but diversified sources of income to achieve the vision thus achieving its strategic goal.

Saudi Arabia's economy is facing crises resulting from the Corona pandemic.

The Kingdom was able to protect the local economy during the coronavirus crisis and mitigate its effects on the private sector by enhancing its non-oil revenues through several sources.

In light of the strong launch of housing projects and the real estate sector, the real estate activity in Saudi Arabia has flourished significantly and impressively, and has become one of the most important pillars of growth for the Saudi non-oil economy.

Growth rates in the non-oil sectors recorded significant growth despite the slowdown in the growth of the Saudi economy on the oil side due to the reduction in oil production among OPEC+ countries.

Growth rates in the non-oil sectors recorded significant growth.

Large housing projects and the housing sector...

Large housing projects have contributed to strong construction growth, with Saudi Arabia currently implementing more than 60 projects in partnership between the Ministry of Housing and the private sector, adding more than 110,000 housing units.

Saudi Arabia is currently implementing more than 60 projects in partnership between the Ministry of Housing and the private sector.

The rapid rise in retail mortgages has been reflected in the strong activity in the housing sector.

The contribution of the real estate sector to GDP was the largest contribution compared to other sectors, and this contribution played a role in employing thousands of Saudi workers, making the real estate sector the best sector supporting the economy of the Kingdom of Saudi Arabia.

Investor activity in the real estate sector ...

It is worth noting that the increase in demand for real estate is due to the activity of investors in creating new investment areas, thus achieving a clear contribution to the growth rate in a balanced manner, through the establishment of the General Authority for Real Estate, the establishment of the General Authority for Valuers, the approval of the mortgage system, and the establishment of real estate courts through what was explained by the President of Al-Sulaiman Real Estate Group.

Real estate investors" activity in the real estate sector.

We take into account the issue of partnerships that provide great investment opportunities in line with the Kingdom's growth, so that Riyadh is the target destination and rises to the top ten economic cities in the world.

Riyadh is the target destination and rises to the top ten economic cities in the world.

How can real estate investment be successful?

The Kingdom has always paid most of its attention to real estate investment, and it has achieved a kind of constructive economic stability, so before choosing any real estate, or any residential or commercial land, or rather before making any real estate investment, it is necessary to develop a plan and a clear study of the market and investment areas in accordance with the available possibilities.

How to be successful in real estate investment

It is best to take the opinion of specialists in the field of real estate investment to obtain good investment results that benefit all parties.

The Kingdom of Saudi Arabia is witnessing a large investment in the Saudi real estate market, as it provides the appropriate factors to reach economic stability, which is the best option when considering investment.

The most important features and obstacles of the real estate market in Saudi Arabia:

Features:

• The real estate market in Saudi Arabia provides a great opportunity for any investment, whether in residential or commercial real estate or even land.
• Great facilities, especially for foreign investment by providing support in the Saudi real estate market.
• Keep in mind that investing in the real estate market is fruitful due to the increased value of the units.

Obstacles:

Despite the activity and strong features of the real estate market, it is not without some obstacles, and although it is said that every horse has a hiccup, this does not diminish the real estate market, and the great renaissance of the economic sector, and contributed to its growth and stability.

Despite the activity and strong features of the real estate market, it is not without some obstacles.

There were some obstacles for the investor in the real estate market, namely "financial liquidity", but this is no longer an obstacle after the availability of many "financing programs".

The real estate market is not without some obstacles.

In addition to the provision of financing programs by the Real Estate Development Fund and banks, the volume of real estate financing reached more than 100 billion riyals.

What are the types of real estate investment?

The fields of real estate investment are varied and numerous, but it is essential to determine the type of investment you want to make, in order to achieve better results and greater profits. In addition, determining the type of investment helps you set the appropriate budget before starting the investment.
Knowing the types of investment allows you to know the financial returns from renting or selling the property or other procedures.

Real estate investment.

And you should know, dear investor, that the profits from the investment during the first few months will be forgotten, because it takes quite a long time for the profits to appear and their seriousness to become apparent.

Real estate investment has three types:

• Investing in commercial real estate.
• Investing in residential real estate.
• Investing in buying and selling real estate.

Why is real estate the second source of income after oil in the Kingdom?

After the Kingdom of Saudi Arabia found a decline in oil revenues, other non-oil areas began to generate good revenues and provide the Saudi treasury with a good income that supports the state, its citizens and its investors, and the most important of these areas is the real estate sector.

Real estate is the second source of income after oil in the Kingdom of Saudi Arabia.

The real estate activity has become one of the most important sources of income for the Kingdom after oil, as the domestic output of the economic sector has increased recently, and despite the difficulties facing the Kingdom in light of the Corona pandemic, the real estate sector and the housing sector are still in constant development and successful investment projects at all levels.

The economic sector has been considered first among other development sectors, both in terms of the revenues it provides, and in terms of the multiple investment fields it opens.

Real estate contributions amounted to more than 500 billion riyals, due to the sector's multiple activities, large area, real estate forums and seminars, development areas, huge investments, and large and highly important projects.

Real estate contributions have reached more than 500 billion riyals.

Because the real estate sector has such importance, the Kingdom must take systematic measures related to real estate activity, the most important of which is the establishment of a government body that works to develop and support real estate activity, as well as provide oversight and regulation of all its activities, and lay the correct foundations that raise its efficiency.

What awaits the real estate sector in the future, and what do we expect from it?

Many government legislations have been issued to help regulate the real estate sector and support its activities, increase its stability, the success of its projects and the growth of its investments.

What is the future of the real estate sector?

It is promising that the real estate sector will continue its activity, and the demand for housing units will increase in the market, pushing this sector to grow and prosper more and more, especially as the Kingdom works to pump thousands of housing products into the Saudi market.

The real estate sector is characterized as the most stable sector in the Kingdom, although there are some threats in its decline due to the Corona pandemic, which affected the global economy in general, not only the Saudi economy.

Here are some of the achievements of the real estate sector, the most important of which are:

• The Kingdom will take advantage of the vast lands and empty spaces, and turn them into housing products available to all those who deserve housing support.
• The Kingdom is establishing 2000 km of roads by working on finishing the remaining matters related to the previous roads, and establishing main, secondary and axial roads, and taking advantage of these roads in real estate activity.
• The Kingdom took advantage of the development of smart devices and created the investment portal, which contributed to the implementation of 2500 investments.
• The Real Estate Fund provided 1.3 billion Saudi riyals in the balance of contributors to the residential program, in June 2020, through the Ministry of Housing and the Real Estate Development Fund, and the aim of all this is to support the Saudi real estate market and provide housing for Saudi citizens.

Yes, the Kingdom is working seriously to support the real estate sector and make it the main pillar in supplying the Saudi economy with the required revenues. It offers investment facilities through banks to achieve a wide range of real estate financing options, helping young or expatriate Saudis to buy homes or real estate at an affordable cost and uncomplicated procedures, helping to increase the ownership of homes by Saudi citizens.

Yes, the Kingdom is working seriously to support the real estate sector, making it the main pillar to supply the Saudi economy with the required revenues.

The government's initiatives such as Sakany, Sakany 2, and others will increase home ownership rates and enhance the importance of the Saudi residential real estate market. In addition to its great interest in achieving regulation and transparency in the real estate market through its introduction of the rental price index and other programs.