Optimism and participation
As a result of the increasing growth in the real estate market in all its forms, Jeddah Cityscape Jeddah 2015 is witnessing a wide participation of more than 50 local and regional exhibitors showcasing their projects to a wide visitor base expected to reach 10,000 visitors over the three days of the event inaugurated by HRH Prince Mishaal bin Majid bin Abdulaziz, Governor of Jeddah, at the Jeddah Center for Forums and Events (JCFE). The prepared programs witnessed a great turnout from the public, especially the pavilions of the participating entities and workshops.
At the same time, the Ministry of Housing announced its intention to launch a new residential project in Jeddah on an area of more than 13 million square meters, which will include 14,000 residential units, which will contribute to reducing the gap between supply and demand in the local residential real estate market.
High turnout on the first day
The exhibition kicked off amid an unprecedented turnout of visitors to the exhibition and Jeddah Real Estate Summit workshops and participants from investors, developers, engineers, designers, senior government officials and decision makers, in addition to senior officials in charge of designing and constructing real estate projects for both the public and private sectors who came to learn about the current real estate scene in Jeddah, explore the prospects of the Saudi real estate market in general, see the latest projects, ideas and services, and explore cooperation and partnership opportunities available with the participating companies.
Strategic importance
Dr. Abdullah bin Mahfouz, Chairman of the Board of Directors of National Exhibitions Company, the organizer of Jeddah Cityscape Jeddah, welcomed the visit of HRH Prince Meshaal to the annual exhibition, expressing his pride in his patronage of the exhibition and his keenness to provide all the support and support it needs. Dr. Bin Mahfouz highly valued the efforts of the State of Saudi Arabia to provide all means and exert all efforts in order to provide welfare and decent living for the Saudi citizen. »With the rapid boom in the Saudi real estate market, Cityscape Jeddah has proven over the past years its strategic importance as a platform that can accommodate the growing interest in this market and bring together experts, entrepreneurs and investors from across the region to discuss how to benefit from the many promising opportunities that characterize the Kingdom's real estate market," said Dr. Bin Mahfouz.
Lowering real estate prices
Riyadh Al Thaqafi, CEO of Ewan International Housing Company, said: «We have witnessed the recent intensification of government efforts to promote the local real estate market by incentivizing land owners to invest in various residential, commercial and industrial projects, thereby reducing real estate prices, especially residential ones. As a result, we expect to see a significant increase in home ownership among citizens over the next few years.».
