An architectural renaissance
Riyadh Governor Engineer Abdullah Bin stressed that the exhibition is a favorable opportunity for citizens and residents to learn about real estate and projects that take place in Riyadh, the Kingdom or even at the level of neighboring countries.
He added that Riyadh is about to undergo a major renaissance in various urban activities, and such exhibitions are an opportunity for individuals and the private and public sectors to learn about the activities and information that help those concerned in planning and developing current and future investment programs.
Regarding the regulations followed by the Municipality in reducing the duration of issuing licenses, His Excellency the Secretary said that the new regulations developed by the Municipality found a great response, as it contributed to reducing the review and approval periods for projects, especially comprehensive plans, to 40 days and a maximum of 90 days, and depending on the nature of the project, there are permits that are done within one day only. All of this was activated electronically on the Municipality's website.
50 local and Gulf companies
50 local and Gulf companies working in the fields of planning, real estate development, architecture, and finance participated in the exhibition to showcase their products and services, and take advantage of the opportunities provided by the exhibition to communicate with investors and decision-makers.
A number of workshops were also held on the sidelines of the exhibition with the participation of experts in the real estate sector who discussed the challenges facing this sector at the level of the Kingdom in general.
The exhibition is supported by the Supreme Commission for the Development of Riyadh City and sponsored by Tadawul Holding, Knowledge Economic City, Barwa, Mohammed Al Habib and Flash Real Estate.
Dr. Abdullah Marei Bin Mahfouz, Chairman of National Exhibitions Company, commented on the success of the exhibition each year: “The organization of Cityscape Riyadh for the fourth year comes at a time when the Saudi government's efforts to reform the real estate sector and restructure this vital sector to meet the growing demand for residential projects and financing solutions are intensifying. While there is great interest in the huge and spectacular development projects being undertaken in our country, the exhibition is well received by participants from across the region, as the Kingdom's residents - now and in the future - see the results of these projects on the ground.”
Workshops
<Among the issues discussed at the Riyadh Real Estate Summit workshops was “Investing in residential communities instead of buildings”, as recent studies have revealed that the middle-income segment in the Kingdom needs more integrated and modern residential environments as an alternative to standalone villas and apartments. Developers have the responsibility to identify the necessary requirements for the construction of large and small residential communities that meet the requirements of the modern Saudi family and provide them with the services they need.
Participants discussed urban development. Participants discussed modern urban development and horizontal expansion in the Kingdom. Sheikh Khalid bin Hassan Abdulkarim Al-Qahtani, Chairman of HAK Group, highlighted the issue of reconsidering city planning to reduce pressure on municipal resources, and taking into account the balance between vertical urban pressure and horizontal expansion in future cities.
<The Real Estate Summit workshops also witnessed two sessions, one on the issue of real estate financing, which discussed techniques of going abroad for cash and crisis management. The other discussed the topic of creating a financial empire in Saudi Arabia similar to Wall Street, and how the vision of a technologically and academically advanced financial center can be realized.
Other summit workshop topics included gated communities in Saudi Arabia and the use of shared facilities, investment in healthcare projects, and finally the impact of the mortgage law on housing availability over the next two years.
Summit workshop topics included the creation of a Wall Street-style financial empire in Saudi Arabia and how the vision of a technologically and academically advanced financial center can be realized.
Transportation
During one of the summit's sessions, Yousef Batrawi, Chairman of Land Sterling Real Estate Research and Consulting, praised the ongoing public transportation project in Riyadh, which will ease the pressure on the capital's roads and facilitate movement between the capital's neighborhoods and important landmarks, explaining that the impact of the railway transportation system will reflect positively on the value of real estate that passes through and surrounds it in general.
Batrawi reviewed a set of facts about transportation projects in the Kingdom, explaining that the General Authority of Civil Aviation has undertaken the development and construction of 34 airports at a total cost of $665.8 million, and 23 airports have been completed that will add 9 million individuals to the country's passenger traffic. In addition, there are 233 road projects with a total cost of $15 billion that are expected to be completed during the period 2013-2016.
Speakers at the Real Estate Summit workshops, led by Tariq Ramadan, Chairman of Tharaa Holding, agreed on the need to legalize the general planning of residential projects and place them in small communities with all kinds of services and facilities.
On the issue of shortage of skilled labor, Robert Hoffman, CEO of Alliance Real Estate, a newly formed joint venture between Hamad Bin Mohammed Bin Saeedan & Sons, Deutsche Gulf Finance and K Hovnanian, said that the strong demand for real estate in Riyadh is creating challenges in providing skilled labor.
At Cityscape Riyadh 2013, Shady Mahmoud, Development Manager at DSC, an engineering consultancy, said that they have been in the Saudi market for more than 10 years and have implemented more than 100 projects with large companies such as Bin Laden, Dar Al Arkan, Argan House and the Higher Education Fund. The company is currently working on the Diriyah residential project on an area of 3,500 million square meters.
Hussein Buhwaid, Business Development Manager at Dar Al-Omran Engineering Consultants of Jordan, which works in the field of architectural and engineering design and city planning, stressed that they have been present in the Saudi market for 30 years and have projects with the Supreme Authority for the Development of Riyadh City, the Ministry of Interior, the Ministry of Hajj and King Faisal University, and the King Abdulaziz Historical Center project is one of the largest projects implemented by the company. He attributed their participation to the desire to expand in the different cities of the Kingdom and reach the highest level of presence in the Saudi market, as the Kingdom is witnessing huge projects in the fields of infrastructure, service projects and various investments in its various cities and governorates
