In the presence of major local and international companies, His Excellency the Minister of Housing, Mr. Majid bin Abdullah Al-Hogail, inaugurated the Saudi Real Estate Institute yesterday morning, Wednesday, during a ceremony held by the Ministry. The ceremony was attended by a number of Their Highnesses and Excellencies. The institute is an extension of the initiatives launched by the Ministry as part of the National Transformation Plan 2020, which aims to achieve the Kingdom of Saudi Arabia’s Vision 2030.
40,000 training opportunities over 5 years
During his speech, Minister of Housing Majid bin Abdullah Al-Hogail unveiled the Saudi Real Estate Institute, explaining that it is an educational entity specializing in real estate studies. It aims to train professionals in the real estate market and grant them accredited professional certifications that enable them to enter the job market with high proficiency. It is one of the initiatives launched by the Ministry of Housing to achieve the Kingdom’s Vision 2030, in collaboration with numerous local and international partners and consulting firms in the real estate sector.
The Institute is expected to provide 40,000 training opportunities over the next five years, helping to create thousands of jobs for both men and women by organizing the sector’s workforce and improving its work environment, in accordance with international standards adapted to suit the local environment and culture.
Training courses from the “Vocational Training Corporation”
For its part, the General Organization for Technical and Vocational Training will organize, in collaboration with the Institute, numerous specialized training courses and programs in the fields of construction, building, and real estate, which will in turn contribute to regulating the market and increasing the percentage of Saudis working in the real estate sector in the Kingdom.
In this regard, Dr. Ahmed Al-Fahid, Governor of the General Organization for Technical and Vocational Training, emphasized that the organization seeks, in accordance with its strategy, to bridge the gap between training outcomes and labor market needs, develop training fields in the Kingdom, and to increase coordination and collaboration with all entities in the public and private sectors.
He noted that the Authority’s contribution is part of its initiatives to form partnerships with the government and private sectors to provide training programs needed by employment sectors and ensure suitable job opportunities for Saudi nationals of both genders, in line with the National Transformation Program 2020 and Saudi Vision 2030.
For his part, Dr. Ghassan Suleiman, Governor of the General Authority for Small and Medium Enterprises, highlighted the importance of launching the Saudi Real Estate Institute, given its active role in providing the necessary training for citizens and thereby creating more job opportunities, as well as establishing a number of specialized enterprises in this sector.
Raising the knowledge and cultural level of workers in the sector
The General Supervisor of the Saudi Real Estate Institute, Mohammed bin Faisal bin Muammar, also stated that the Saudi Real Estate Institute seeks to raise the knowledge and cultural level of workers in the real estate market, by offering specialized real estate programs led by the most skilled experts in the field. He noted that the Institute aims to achieve several objectives, including familiarity with the regulations and legislation of the Saudi real estate market, the development and organization of the Saudi real estate market, as well as creating job opportunities for the nation’s sons and daughters, serving as a real estate platform for the exchange of expertise and knowledge, and organizing related conferences and exhibitions.
Five certificates accredited by the Institute
Bin Muammar stated that the Institute will grant professional certificates and licenses accredited by the Ministry of Housing and academic partners, including the “Certified Homeowners” Association Manager” certificate, a professional certification in homeowners” association management issued by the Saudi Real Estate Institute and accredited by its strategic partner, the American Council of Homeowners” Associations (CAI), as well as the ”Certified Facilities Management Professional” certificate, a professional certification in the field of facilities management; the ”Certified Real Estate Broker“ certificate, a professional certification in the field of residential rental brokerage; and the ”Off-Plan Sales Professional Certificate,“ a professional certification in off-plan sales that qualifies the trainee to work in off-plan sales programs upon completion, as well as the ”Building Inspection Professional Certificate” which is a professional certification in building inspection issued by the Saudi Real Estate Institute and accredited by the Institute’s strategic partner, “Saudi Achi.”
