Dhaif Allah Al-Gharibi: Online exhibitions using advanced digital technologies have become the norm
Shaher Al-Daadi: The pace of safe real estate investment has accelerated over the past two years
Khalid Al-Murbai: Community immunity against COVID-19 has spurred the return of real estate exhibitions
Special Feature: Saeed Al-Alkami
The real estate newspaper Amlak gathered the views of some representatives of real estate companies regarding the return of real estate exhibitions, and the innovative thinking they embody, which represents a structured approach to sustaining growth and innovation to serve the real estate community—including developers, financiers, marketers, government agencies, and citizens seeking opportunities to own land, and residential units, as the exhibitions provide unique housing and financing solutions tailored to various segments of society.
Al-Gharibi: Real Estate Expos Provide Peace of Mind
Mr. Daifallah Mahmoud Al-Gharibi of Doh Real Estate Company affirmed that the adoption of virtual exhibitions using advanced digital technologies has become an expected development, noting the importance of social media, which has taken some of the luster away from physical exhibitions, but he added that this does not negate the fact that real estate exhibitions remain a wonderful opportunity for developers, brokers, and investors to showcase their latest projects and establish channels of communication with one another in an environment rich with expertise and diverse options.
Al-Gharibi spoke about the real estate market in the Makkah region, noting a decline in demand in the region over the past two years compared to previous years, despite an uptick in some areas of the Kingdom, and predicted that quality standards would improve and prices would rise again in line with increased demand.
Al-Gharibi emphasized that real estate exhibitions offer numerous benefits; in addition to the abundance and diversity of supply and demand, they instill confidence in the real estate market and affirm its stability, strength, and sustainability.
Al-Daadi: Expectations for the Success of the Exhibitions
For his part, Mr. Shaher Wasel Al-Daadi, Al-Wasil Construction and Real Estate Development Company Limited, that real estate exhibitions serve as a global marketing platform where companies can showcase their latest innovative residential products.
Al-Daadi predicted great success for real estate exhibitions, expecting them to foster an exchange of ideas and professional marketing that balances supply and demand, and he did not rule out the possibility that future exhibitions might take the form of virtual events, similar to what has happened with auctions.
Al-Daadi believes that the pace of safe and successful real estate investment has accelerated over the past two years, attributing this to the attention and support the Ministry of Municipal, Rural Affairs, and Housing has given to housing projects and products, Al-Daadi praised the recently issued regulatory decisions, emphasizing that they have supported the real estate market and will have a significant and stimulating impact on real estate transactions.
Al-Murbai: We Expect Unprecedented Activity in the Sector
For his part, Mr. Khalid Saleh Al-Murbai of Diyar Al-Anfal Real Estate said: "Supply and demand are variable and fluctuate like a thermometer reading, and based on an optimistic analytical outlook for the final months of 2021 and the first quarter of 2022, we expect economic growth to reach 5.7%, which will lead to unprecedented activity in the Kingdom’s real estate sector).
Al-Murbai explained that the administration of COVID-19 vaccine doses—with more than 60 million doses administered to citizens and expatriates—has created a suitable opportunity for herd immunity in the Kingdom, which serves as a catalyst for organizing real estate exhibitions at this time.
Al-Murbai predicted that the real estate exhibitions will feature a variety of high-quality projects, including an extensive offering that meets the growing demand resulting from the positive growth and improvement in the real estate sector, This will be further bolstered by the reforms and decisions issued to regulate transactions in the sector, with such transactions expected to increase by at least 20% in the coming period.
Khalid Al-Murbai concluded his remarks ”For Amlak,” noting the imperative of adopting virtual exhibitions to expand the scope of offerings; given that the Kingdom ranks second globally as a digital economy across all its applications, a very positive impact on the improvement of the digital real estate sector is expected.
