Mr. Yasser Saeed Al-Ghamdi, owner and general manager of Mada'in Al-Ghad, an ambitious man who succeeded in establishing and managing his own business in the field of real estate and made his organization a prominent name in the Saudi real estate market, "Amlak Newspaper" sat down with the man to shed light on his journey, and introduce the reader to the services of Mada'in Al-Ghad for real estate customers in the Saudi market. Here's the interview:

Multiple business activities

Start, Mr. Yasser, tell us about the highlights of your career in real estate?

My beginnings were in a private company, but due to the instability of the real estate market in that period, I had to establish a private real estate institution in 1430 AH, where I started managing private properties and real estate. Especially since many properties and residential buildings need offices to manage them, and then I gained experience in managing my own property and we expanded in the real estate field and gained customers in all cities of the Kingdom. At that time, I opened the real estate maintenance department and the service and maintenance of buildings within deliberate strategic steps.

Comprehensive services

What services does Mada'in Al Ghad provide to its real estate clients in the Saudi market?

We manage real estate properties from all aspects: Whether valuing buildings, maximizing property income and maintenance, organizing the relationship of tenants with the same property and with the owner and guard, as well as supervising and following up on real estate and real estate marketing, which benefits us a lot in Mada'in Al Ghad by getting to know the owners closely and helping them manage their own properties.

Many brokers. Means misinformation

What are the difficulties facing the Mada'in Al Ghad Foundation in the real estate field in the local market?

Actually, one of the difficulties we face in the real estate market in Saudi Arabia is the large number of brokers, the client does not come to the real estate office but deals with real estate brokers who are not qualified to manage property and real estate to get wrong information.

Professor Yasser, what suggestions do you have to avoid the real estate broker issue?

The suggestions are simple and many, but they face obstacles from some government agencies that limit their implementation: The existence of a fixed working system between the client and the landlord, as the issue of the tenant not paying the rent on time leads to issues with the landlord and indefinite procrastination."

More offers than requests

In the supply and demand equation, how does the local real estate market balance this equation?

Supplies in the local market are more than requests at the present time, as most requests do not reach the level of supply in the Saudi market, for example a building offered for sale for 30 million riyals that the buyer wants for 25 million, so we find that offers are increasing in prices, especially in recent years, but they began to decline in 2015 and their decline affects the local real estate market.

Providing representatives for real estate offices

Mr. Yasser, a word to the real estate companies, the head of the real estate community and the authorities responsible for the real estate market in Jeddah?

I wish to provide equipped delegates and send them to all real estate offices to identify the issues and difficulties facing real estate offices and try to find alternative and quick solutions to these issues, and I also wish Mr. Abdullah Al-Ahmar, President of the Chamber of Commerce and responsible for real estate in Jeddah, to activate the decisions to visit delegates to real estate offices.

Mr. Yasser Saeed Al-Ghamdi, owner and founder of Mada'in Al-Ghad Real Estate Foundation, we are honored to host you on the pages of Amlak Real Estate Newspaper and we wish Mada'in Al-Ghad all success.