The accelerated growth in Saudi Arabia's real estate sector is a key pillar to support the Kingdom's ambitious economic plan. In light of this dynamic, the next phase requires enhancing trust and transparency between brokers and investors to create an attractive real estate environment.
Dr. Dr. Sherif Soliman, Chief Revenue Officer at Property Finder Group, speaking at a session on the role of technology in the real estate sector and the importance of consumer focus at Restatex Jeddah 2024, addressed the steps needed to drive growth in the Saudi real estate market in parallel with ambitious economic plans.
During his speech, Dr. Sherif Soliman, Chief Revenue Officer at Property Finder Group, addressed the steps needed to drive growth in the Saudi real estate market in parallel with the ambitious economic plans.
Attracting 10 million people
He pointed to projections indicating that the Kingdom will attract about 10 million people from around the world over the next two decades, whether for investment or residence. To achieve this, Sulaiman emphasized the importance of creating a real estate environment based on transparency and trust to ensure continued growth and achieve the goals of the Saudi market.
<He explained that the Kingdom's progress in global technological and investment indicators, such as the rise in the digital transformation index and the telecommunications sector, reflects the strength of the economy and increases the Kingdom's attractiveness to foreign investors. However, he pointed out that the biggest challenge lies in building a real estate market based on transparency and providing high-quality real estate products, whether for rent or sale. <To strengthen this market, Sulaiman called on brokers and developers to work hard to improve the quality of real estate offerings and ensure that the information provided is accurate and reliable. He also emphasized the importance of rapid response from brokers to clients, as he reported that 70% of real estate seekers in the Kingdom do not receive responses from brokers, which negatively affects the creation of real economic value.
Trust and transparency. The key to attracting foreign investors
<Sulaiman touched on the role of intermediaries in building trust with investors, emphasizing that the quality of offers and speed of response play a pivotal role in attracting investors and enhancing their presence in the Saudi market. He called for the use of technology to improve the quality of offers and track the performance of intermediaries, with a focus on providing excellent investor experiences through effective and accurate communication.Building a reliable platform to create an attractive investment environment
<At the end of his speech, Dr. Sherif Sulaiman stressed the need for cooperation between all actors in the Saudi real estate market, including brokers and developers, to create a transparent and trustworthy investment environment. He emphasized that these efforts will contribute to attracting more foreign investors and support the Kingdom's economic growth.The role of technology in the real estate sector, the importance of focusing on the consumer https://t.co/vbf1Vy0MWs
- Restatex Real Estate Exhibitions (@restatex) October 12, 2024
