File - Investing in Emerging Neighborhood Services. A feasibility study. (2)

Khaled Al-Qarni: Citizen of peripheral and emerging neighborhoods struggles to access investor services

Ali Al-Toukhi: Brand World projects are long-term investments and are not affected by losses

Badr Al-Hassoun: Investing in basic services is more important than cafes, restaurants and luxuries

Abdulrahman Mander: Community influence plays a big role in changing the behavior and culture of individuals and families

Poll: Sulaiman Al Hassan

Al-Qarni: Lack of marketing plans

<Khalid Al Qarni, Tactical Real Estate Services, agreed that most <a style="color: #ff6600;" href="https://amlak.net.sa/? projects in newly urbanized areas are duplicated and open together in the same location or opposite each other. He agreed with those who spoke before him that there is no feasibility study and no proper marketing plans for these projects, attributing this to imitation, saying: "There are imitations and duplicate projects that are neither fashionable nor up to date.“

Al-Qarni said that the projects are not in line with the times. Al-Qarni said that the most important services that the neighborhood needs are supermarkets, barbershops, laundries, cafes, restaurants, dispensaries and schools, provided that they have undergone a feasibility study that determines the type of activity and the distinctive location.

Al-Qarni concluded his conversation with ”Amlak" that the citizen suffers in peripheral and emerging neighborhoods in obtaining these services that investors and the private sector must pay attention to.

Al-Qarni concluded his conversation with "Amlak“ that the citizen suffers in peripheral and emerging neighborhoods in obtaining these services.

Toukhi: No suffering under the vision

From another angle, Ali Al-Toukhi, Al-Toukhi Real Estate Investment, explained that these projects are mostly global brand names, and often the investment in them is for the long term, and that they will initially suffer losses, until the market begins to work, and Al-Toukhi pointed out that some of these projects are integrated.

Al-Toukhi said. <Al-Toukhi said: "We agree that now in the era of development led by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and his Crown Prince Mohammed bin Salman, may God protect them, we need more development and economic and social growth and all sectors.” He pointed out that the residents of the neighborhood always need health and living services, and praised the availability of the rest of the basic services and their proximity to the urban area; which made the citizen not feel suffering under the wise leadership, growth and vision 2030.

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Hassan: Completed neighborhoods first

<Badr Mohammed Al-Hassoun, founder and CEO of Incoming Solutions, believes that if there was a feasibility study for luxury and entertainment projects, they would not have targeted emerging neighborhoods with few residents, adding: If they had directed their projects to fully serviced and densely populated neighborhoods, it would have been better for them. <Al-Hassoun called on businessmen to invest in services that lead to the stability of the population and the influx of residents to the new neighborhood, such as schools, hospitals, dispensaries, large food stores, blacksmith, carpentry, plumbing and other services. <Al-Hassoun said that the suffering of the residents of these neighborhoods lies in the long journeys to neighboring neighborhoods with full services to obtain their supplies, so we find there is a financial cost and wasted time, and he concluded his speech to "Amlak" by saying: "It was supposed to provide basic services instead of cafes, restaurants and luxury projects."

Mander: A flaw in the way identity is built

For his part, Abdulrahman Mander - Icabs Shared Space Offices Company, said that more than 50% of projects in peripheral neighborhoods are not done a proper marketing study, and you see this through the way of building an identity that reflects the orientation of companies and the quality of their customers, and pointed out that the social impact also plays a big role in changing the culture of the individual, group and family, which resulted in this type of investment.

Mander said that the citizen often does not face the suffering of obtaining basic services in the advanced stages of the life of the neighborhood, but the first residents of any neighborhood live these moments of suffering, and he gave the example of the Crown Prince 8 neighborhood, which after two years will become an attractive neighborhood for residents and investments.

Mander pointed out that the community impact also plays a big role in changing the culture of the individual, group and family, which resulted in this type of investment.