Khurmani Diwaniya launches initiative to support the Kingdom's largest economic sector after oil
Specialists wonder why graduates don't break into economics and real estate media
An evening of discussion unveiled the move to announce a Saudi association for real estate media under the name «Real Estate Media Association» in cooperation between the Urban Sciences Association and Amlak Real Estate Newspaper, which has a long history of economic media specialized in real estate market affairs.
The announcement was made during an evening organized by «Diwaniya Al-Kharmani» with the participation of Dr. Ghazi bin Saeed Al-Abbasi, Chairman of the Board of Directors of the Saudi Society for Urban Sciences and Mr. Abdulaziz Al-Issa, Editor-in-Chief of Amlak Real Estate Newspaper, in addition to a large number of people interested in real estate and its industry in the Kingdom and the Gulf.
Real Estate Media Association.
Initiative to exchange experiences
The evening was ably moderated by Dr. Abdullah bin Attia Al-Khurmani, who put forward an initiative to combine Amlak newspaper and the Saudi Society for Urban Sciences in a plan to train media workers on real estate and urban terms and concepts to produce a generation specialized in real estate media, where the idea found acceptance and welcome from the two guests of the evening and developed by Mr. Ghazi Al-Abbasi in the framework of establishing the first Saudi Association for Real Estate Media in cooperation with Professor Abdulaziz Al-Essa with his great experience in this field to serve the real estate sector.
The urgent need for real estate media
For his part, Mr. Abdulaziz Al-Eisa said, during the evening, which came under the title "The role of media in the development of the real estate sector," that no one denies the role of economic media in moving and directing markets, as it stimulates the wheel of economic development and attracts investment opportunities and investors to it. The economic media, with its modern tools, can move markets, correct the path and shed light on opportunities and issues to seize the first and solve the second in cooperation with the relevant authorities, and as a result of the strong need for reliable sources that publish information and data related to the real estate sector, the need for more specialized media, especially in the real estate field, has emerged.
Obstacles facing real estate development
Dr. Ghazi Al-Abbasi revealed the obstacles facing real estate development in the Kingdom, where he said that the obstacles that previously existed were represented by personal construction with all its randomness and confusion despite the fact that it represents more than 70% of the real estate product in the Kingdom, but now the building culture has changed in the Kingdom and real estate products have diversified and changed for the better.
In addition to the fact that many real estate companies are family businesses, this is one of the obstacles that should be overcome, but the image of personal construction has improved currently due to the development of special systems such as the Saudi Building Code and I believe that this is a transitional stage during which some stumbling occurs, but it will be organized later.
Abbasi added: The president of the Saudi Society for Urban Sciences predicted that during the next five years, a large number of distinctive real estate options will be offered, in conjunction with the real estate market's commitment to development options, noting that there is a bright future for the real estate market. Abbasi added: "We are now living in a stage where white land gamblers are trapped between development and fees.
Talking about the role of the media in the development of the real estate sector, Mr. Abdulaziz Al-Issa stressed that more than 70% of the components of the real estate market in the Kingdom are Saudi nationals and is the largest economic sector after oil, so the economic media is one of the most important drivers of the market, especially real estate."
He continued: The real estate renaissance that the Kingdom is witnessing is moving the wheel of development significantly, so it requires a big role from the media to stand side by side with this renaissance, and this can only be achieved by concerted efforts and eliminating the obstacles facing this important media field.
Al-Issa stressed that there is a great scarcity of economic journalists working in the real estate sector, there are many media graduates but where are the journalists working in the economic field and therefore working in the real estate media?
The editor-in-chief of Amlak newspaper touched on the obstacles facing the real estate media, which are represented in 4 points, the first of which is the ability to collect the largest amount of accurate and relevant information, classify and analyze it, which facilitates those interested in the real estate sector to make sound decisions that ensure survival, growth and achievement of the desired goals, while the second challenge facing the real estate media industry relates to the profession itself, which is reliability, the process of making a press report requires great scrutiny by the editorial department and extensive research, with many sources that spread many rumors and misleading information especially in this
Added, a large number of those working in the real estate market still do not understand the role of the media in developing the real estate sector, enriching it and attracting investments to it, while the sector suffers from non-specialists leading the scene and perhaps the search for a specialist who does not find his voice is one of our most important competencies as media professionals, and therefore our interest in Amlak Real Estate newspaper focuses on the owner of honest and sound information in the real estate field in both engineering and commercial (marketing) to be a tributary from which interested people draw their real estate knowledge.
"Al-Issa" explained that marketing studies for projects before their construction protects the project from loss, as there are many evidence of projects that were developed without much economic benefit and when we search for them, we find that the developer did not do his duty of studies and efforts about the type of consumer for these projects on this land, which wastes large national resources that we need to preserve and develop.
During the evening, Dr. Ghazi Al-Abbasi pointed out that the building code is one of the projects completed since 2006 and was only implemented this year, 15 years later; the reason for the delay is the fear that this code will affect the real estate sector as we currently see from some developers and real estate investors, but I think it should have been implemented since then because confusion will inevitably occur and this is something natural that we must deal with it strongly as the various government agencies with jurisdiction now deal with it. 15 years after the code was completed.
Dr. Ghazi Al-Abbasi concluded that coming up with the establishment of a Saudi Real Estate Media Association is the best product to be agreed upon during this important national stage that the Kingdom is witnessing, stressing the support of the Urban Sciences Association to reach a sufficiency of media workers specialized in real estate. Mr. Abdulaziz Al-Essa welcomed this idea, stressing the support of Amlak Real Estate Newspaper for the idea, thanking Dr. Abdullah Al-Khurmani for putting it forward and supporting Mr. Ghazi Al-Abbasi and the Urban Sciences Association for it.
A national market par excellence with more than 70%
4 challenges facing real estate media
The scarcity of marketing studies has created a disaster
15 years since the completion of the building code
