On the anniversary of the 93rd National Day
Clarity of regulations and enumeration of activities build a bright future for the real estate sector
Hamad Al-Shuwayyar
I submit to the Custodian of the Two Holy Mosques and the Crown Prince, my highest congratulations on the occasion of the 93rd National Day of the Kingdom, may God maintain security and safety on our dear country and may God protect our leadership from all harm.
The real estate sector is undoubtedly one of the most important sectors of the real estate sector. There is no doubt that the real estate sector plays a pivotal role in the Saudi economy, contributes significantly to the GDP, provides job opportunities for young men and women, contributes to social and economic development, and provides direct and indirect job opportunities for citizens in general.
The real estate sector is considered one of the main engines in the Kingdom, and more than 120 economic activities revolve in its orbit, and this attracts investment in all segments of society, for several factors that serve the members and investors in this important sector; the ease of entry, the clarity of its regulations and the enumeration of its activities in the various fields related to it.
The real estate sector is also considered one of the main drivers of the Kingdom's economy. It is also a haven for investors in times of crisis, and a support for the rest of the related economic sectors and activities.
We expect the sector to witness a significant increase in the number of investors. <We expect the real estate sector to witness significant growth in the coming years, especially residential, supported by several factors, including the focus of the Kingdom's Vision 2030 on developing the real estate sector by attracting foreign investments, developing infrastructure, improving regulations, laws and legislation related to it, as well as the expected population growth by 2030 to more than 40 million people, which leads to increased demand for real estate, and the efforts of the General Authority for Real Estate, the reference for this sector, to restructure the regulations and laws of activities related to the real estate sector, monitor them and follow up their application, and establish the Real Estate Institute to educate and introduce these regulations, and impose <These regulations include <a href="https://amlak.net.Real Estate Brokerage System, which regulates the brokerage sector, the property management system, the new real estate contributions system, to add a new financing channel, the in-kind registration system to preserve rights and reliability of absolute ownership, and the "Ejar“ system, all to support reliability and transparency in the important Saudi real estate sector, which makes us optimistic for a future that promises the good of this sector.
<Cityscape Global, the first Saudi edition, which is considered the largest event in the world for the real estate sector, through events and workshops that reviewed the most prominent features of the future of the real estate and residential sector, technologies and innovations in it, as well as the heavy attendance, whether from investors and participants, at the local, regional and international levels, and I refer here to the great importance of the projects of Roshan Real Estate Group and the efforts made by the National Housing Company, all this gives us hope for a bright future for the real estate sector, God willing, under the government of the Custodian of the Two Holy Mosques and his Crown Prince ”may they protect them«.
