Dr. Sami bin Abdullah Al-Obaidi, President of the Taif Chamber of Commerce and Industry, emphasized the need to launch a real estate index specific to the province, noting that it would help regulate the real estate purchasing process and prevent price manipulation, It will also provide a balance between supply and demand and eliminate any excessive pricing of properties offered for sale, particularly by certain real estate agents and brokers who control a significant portion of the land and real estate market. and the index will ensure a clear price benchmark for every plot of land and every development plan without the need for appraisal by real estate agents.

This came during a meeting between Dr. Sami Al-Obaidi and Sheikh Musleh Jaber Al-Sawat, head of the First Notary Office in the province, at the latter’s office, where they discussed a number of issues of concern to businesspeople and investors in land and real estate. The proposal was welcomed by the head of the First Notary Office in Taif, who requested that it be studied in accordance with the requirements and regulations of the Ministry of Justice, emphasizing his commitment and interest in supporting this initiative to promote development in Taif. The meeting was attended by the Chamber’s Secretary General, Disman Al-Faqih; the Chairman of the Chamber’s Real Estate Committee, Abdullah Al-Baqmi; and the Chamber’s Director of Public Relations, Yusuf Al-Zahrani.

Dr. Sami Al-Obaidi noted Sheikh Musleh Al-Sawat’s positive response to the proposals submitted by the Chamber, emphasizing that the real estate index for the province will have an impact on boosting land and real estate transactions in Taif, by providing information on current values and prices.