Isam Bukhamseen: Historical and cultural depth is a promising basis for investment

Real estate investment is one of the most important tributaries of urban development and is primarily concerned with enhancing the quality of life and improving the urban landscape urban, social and cultural, so it is an essential pillar in rebuilding and developing old neighborhoods, within the framework of economic development and its close link to community and national identity, as it opens multiple areas for community development.

Real estate investment is one of the most important tributaries of urban development.

Preserving Cultural Heritage

The importance of Investment in old neighborhoods Ensuring the preservation of cultural and cultural heritage assets to meet the basic needs of residents in these areas and rebuilding economic outlets that provide job opportunities commensurate with the social structure and re-planning of neighborhoods, to also provide housing units that improve the quality of life within cities and not only in their outskirts, the development of old neighborhoods will contribute to opening the appetite of investors after re-planning them according to an integrated urban approach by improving the urban environment, infrastructure and quality of public spaces and creating vital service facilities.

Creating new horizons for demand and supply

The replacement and construction operations in old neighborhoods in various sectors, whether residential or commercial, will contribute to creating new horizons for demand and supply and enhance the value of assets against the size of the investment return, as these areas are characterized by their concentration within the urban area and their proximity to vital basic centers and facilities, including government complexes, hospitals and schools, which ensure continuous demand to occupy such properties due to their strategic position in the heart of cities.

These areas are characterized by their concentration within the urban area and their proximity to vital basic centers and facilities, including government complexes, hospitals and schools, which ensure continuous demand for such properties for their strategic position in the heart of cities.

Increased real estate market value

On the other hand, if we look at the historical and cultural depth of historic neighborhoods, it constitutes a promising foundation and an attraction factor that enhances tourism revenues and the local national economy. Cultural heritage sites embodied in revitalized old historic neighborhoods can increase the market value of real estate and the level of local spending, which supports the funding of public services in these communities; in addition to the essential role in promoting and creating job opportunities and promoting the flourishing of commercial activities of various kinds that constitute an essential tributary that enhances the value of investments in these areas sustainably.

Vision 2030 is the most important catalyst

The direction of the state represented in the vision of the Custodian of the Two Holy Mosques and His Highness the Crown Prince for sustainable development according to the Kingdom's Vision 2030 is one of the most important catalysts that contribute mainly to rebalancing urban development by building vibrant complexes, Saudi cities have received great attention from the Kingdom's wise leadership, a stimulating environment for strategic transformation according to the objectives of the "Quality of Life 2020" program, but in return urban planning in the Kingdom is surrounded by many challenges, such as finding the balance in planning and implementation between preserving heritage and achieving the highest international quality standards.

Urban planning in the Kingdom is surrounded by many challenges, such as finding the right balance in planning and implementation between preserving the heritage and achieving the highest international quality standards.

In order for old neighborhoods to keep pace with the life of modern cities, attention must be paid to their features and transform them into promising investment opportunities such as entertainment, shopping and cultural tourism in old areas that are characterized by their historical depth, which is one of the most promising areas for such neighborhoods.

On the other hand, urban planning is surrounded by many challenges, such as finding the balance between preserving heritage and achieving the highest international quality

* CEO of Innovest Real Estate

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Adel Shalaby: <Older neighborhoods have attractive infrastructure

Investing in poor neighborhoods helps offset some of the losses of investors that occurred in the past period, and the development will provide housing units that will stabilize rental prices in cities, knowing that these neighborhoods are directed to a large segment of corporate employees and workers.

Adel Shalaby <The trend towards historical neighborhoods is according to the opportunities that the investor is looking for in serviced locations, with a clear difference between real estate prices between modern and old neighborhoods by about 30%. The investor is usually afraid of the conditions surrounding investment projects that lead to turbulence and high interest rates on projects, and is motivated by the clarity and realism of economic policies by facilitating procedures and providing infrastructure for operations.

Therefore, the trend towards old neighborhoods represents a great investment opportunity due to the presence of infrastructure in terms of water and electricity, proximity to government and service centers and commercial markets, not to mention the high rate of investment in the city center.

*Sales Manager of Kian Almasia Real Estate