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Riyadh real estate market maintains its lead with growth in the hotel, office and retail sectors

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Riyadh city

 

Despite the impact of the recent amendments to mortgage regulations that resulted in easing the pressure in the residential real estate sales segment, the Riyadh real estate market showed little change during the second quarter of 2015, while the office real estate segment witnessed a relative growth in occupancy rate and rents from the previous quarter, but the rental rate is expected to decrease due to the completion of long-delayed large new projects such as King Abdullah Financial Center and ICT Park during 2016.

Jamil Ghaznavi, National and Regional Director at JLL Group in Saudi Arabia, said: ”The retail real estate segment remains one of the best performing segments in the Riyadh market as the performance of regional and supra-regional malls continues to improve and retail spending remains strong.”.

Mr. Ghaznavi discussed the increases in the hotel segment, which he defined as approximately 2. 5% in average daily rates and revenue per available room from the beginning of the year through May.5% in average daily rate and revenue per available room (RevPAR) from the beginning of the year to May, and predicted that the continued growth in the segment's performance will be tempered by a potentially significant increase in supply, with the current supply of rooms set to increase by 50% within the next 18 months if all projects are completed on schedule, although fortunately many of these projects are unlikely to be completed within that period as construction delays remain a key feature of the Riyadh market.”.

He went on to say: “We expect the new integrated action plan presented by the Ministry of Housing to reduce the current shortage of affordable housing and boost economic growth prospects.”.

Here are the key takeaways from JLL's report in the Real Estate Slide Summary.

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Citywide vacancy rates remained relatively stable throughout the year at around 17%, while CBD vacancy rates continued to decline by 1% to 7%, and office rents saw a slight increase from last year. The second quarter of 2015 saw the completion of Phase 1 buildings in the ICT Park, which added around 60,000 square meters of office space to the market,In addition, up to half a million square meters of new office space is expected to be made available through two major projects (ICT Park and the first phase of King Abdullah Financial Center) expected to be completed in 2016, which may contribute to a significant change in market conditions next year as vacancy levels will rise, leading to lower rents.

Residential segment

While sales prices continued to fall -1% for apartments and -0.The rental segment witnessed a rise in demand with an increase in rents of 2% for apartments and 1% for villas from the previous quarter, and the new mortgage regulations continued to have a negative impact on the sales market as the rate of residential real estate transactions decreased by 7% during the second quarter of 2015 compared to the same quarter of 2014, according to data released by the Ministry of Justice. The second quarter of 2015 compared to the same quarter of 2014, according to data released by the Ministry of Justice, as citizens are having difficulty saving the 30% down payment required by lenders to obtain a mortgage, and it is worth noting that during the second quarter of 2015, about 4,The developers of the residential segment have started to show signs of a slowdown in construction due to the low demand in the sales market, however, the taxation of undeveloped land is expected to encourage the construction of residential units to fill some of the shortage of housing units in Riyadh, it is expected that the taxation of undeveloped land will encourage the construction of residential units to fill some of the shortage of housing units in Riyadh.

Retail Real Estate Segment

Riyadh's retail real estate market continues to see limited growth with a slight decrease in vacancy rates -1% and an increase in rents 1.6% in regional and supra-regional malls over the quarter while community center rents saw a slight decrease -0.Vacancy rates over the past year decreased by 4% while rents increased by approximately 7% in supra-regional malls and 3% in regional malls. Although no new retail centers were completed during the second quarter of 2015, an additional 95,000 square meters of retail space is expected to be available in the market during the fourth quarter of the year following the completion of a number of community centers including Boulevard and Rubin Plaza.

 

Hotel segment

Occupancy rates remained at 67% at the beginning of the year through May, and room rates, which saw a slight year-on-year increase of more than 2% to US$245 during the first five months of 2015, remained relatively stable year-on-year and quarter-on-quarter. As a result, revenue per available room (RevPAR) increased by 3% to US$164. Most projects scheduled to open during the first half of 2015 were delayed due to construction delays and a shortage of qualified labor, however, current room supply levels will increase by approximately 50% by the end of 2016 if all announced projects are completed on schedule. Q2 2015 also saw the opening of Sweet Novotel Hotel Apartments and Q3 is expected to see the completion of 386 rooms at Crowne Plaza ICT Park and 436 rooms at Mövenpick Hotel.

Developing land within cities Utilizing grant lands and financing Keys to solving the housing crisis

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Residential plot

A recent study conducted by the Higher Authority for the Development of the Riyadh Region revealed that the total land area of the capital Riyadh reaches more than 5,000 square kilometers, while the areas occupied by unused white lands are not close to 77% of the total area, and the study indicates that the area of these white lands according to the study is 4146 km2 or four billion m2. The study points out that a city the size of Riyadh, 4900 kilometers, has only five million inhabitants.

Anticipation of the Housing Minister's policies

At a time when the real estate community and citizens entitled to housing support are awaiting the new policies pursued by His Excellency the Minister of Housing, Mr. Majid bin Abdullah Al-Hogail, the market in the Kingdom is witnessing a reservation in most real estate fields, especially the residential units sector of apartments intended for ownership, duplex villas and lands, and observers believe that the next stage is expected to witness a movement within the ministry in order to crystallize the ”housing strategy” to contribute to developing radical solutions to the housing issue, especially in the scope of utilizing white land within the cities.

The need to utilize white land

In the same direction, a number of real estate developers have called for the exploitation of white land inside cities, which in some cases reaches about 30 percent, as such white areas inside cities are considered the real fuel, and through them solve the housing issues that most major cities suffer from, as developers are changing the ideas and patterns of demand for real estate of all kinds, whether for real estate units or small areas of land by dividing large lands and creating housing units of different sizes that comply with the requirements of financing agencies, and this trend has enhanced the demand for buying small residential lands with a touch.

Land grants

The role of grant lands seems to be present in the stage of solving the housing issue, as it contributes to solving the issue by using them for the use for which they were granted and not to sell them, and will partially contribute to solving the housing issue, and it can be said that grant lands, if their plans provide services and infrastructure clearly, contribute to solving half of the issue for the citizen and provide him with the required stability.

The provision of grants helps to significantly reduce land prices, thereby reducing the housing crisis and the rise in rents. Therefore, the Ministry of Municipal and Rural Affairs has directed attention to everything that would develop the methodology and care in the management of land affairs in its comprehensive concept, whether in preserving it, dealing with its issues, investing its resources and municipal properties, providing land grants for citizens' housing, and ensuring the achievement of integration and homogeneity in performance and exercise of tasks in the ministry office and its affiliated agencies according to codified and standardized procedures consistent with a drawn policy and a sound strategic plan.

Optimistic about the real estate market

For his part, Abdulrahman bin Adnan Al Muhaidib, CEO of Wathrah Real Estate Investment and Development Company, said: In the coming period, the real estate market will witness a qualitative movement governed by the liberation of the market from the blurring of direction and statements that have dominated the situation during the last two years. In Jeddah, for example, there are at least three to six investment real estate projects that will go on sale before the end of this year, all of which focus on investment residential land products, said Abdulrahman bin Adnan Al Muhaidib, CEO of Wathra Investment and Real Estate Development Company.

Al-Muhaidib stressed the need for strategic work for the ministry, especially since the new minister realizes - due to his experience in the private sector - the importance of strategic work, especially in an important sector such as the residential sector, stressing that imposing fees on white lands is one of the most important decisions that we believe will transform the market from speculation that serves people, to development that pumps products to consumers.

 

Jeddah's first park for people with special needs

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This set of photos is of the first park equipped for people with special needs in the Kingdom, located in the Al Salama neighborhood on Prince Sultan Street in Jeddah. which was inaugurated yesterday evening by Jeddah Governor Hani Aburas.

The park is the first park fully dedicated to people with special needs to provide a public outlet for them that contributes to their integration into society, gains them confidence and strengthens their will to participate effectively in society, as Jeddah Municipality took care to set the highest technical and specialized specifications in designing the park and selecting its elements very carefully..

The park covers a total area of 7700 square meters, of which more than 1200 square meters are covered with green spaces, and about 160 trees, 30 palm trees, and 2000 shrubs have been planted in it, and the park is equipped with an automatic irrigation system, 30 sessions and games for children, in addition to the installation of 50 lighting poles, 3350 square meters of asphalt, a theater for educational and cultural presentations, a mural space for painting, a smart area equipped with Wi-Fi Internet, and a playground that was implemented with special specifications on a total area of 3350 square meters. Asphalt, a theater for educational and cultural performances, a mural space for painting, a smart area with Wi-Fi internet, a playground implemented with special specifications on a total area of 264 m2, in addition to the construction of a rubber walkway (Rubber) with an area of 868 m2 and providing it with restrooms adapted for people with special needs..

Flooring selection. From The Art of Home Décor

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Prepare  - M .  Sarah Bashir

Flooring is one of the most essential elements of your home's décor, and one of the most time-consuming.  To choose it, which requires strength and durability with a beautiful shape and color, and when choosing flooring, take into account the ease of cleaning and the place to be covered, whether floors or walls, and the types of flooring in the house must be consistent with the rest of the elements.

What to consider when choosing flooring for your home:

color: The choice of color depends on personal taste and varies from person to person. It must be in harmony with the colors of the paint and furniture. .

Area: If the area of the room is small, it is necessary to choose simple drawings so that we do not feel crowded and give a sense of spaciousness. If the space is large, we can use geometric motifs and drawings to decorate the floors of the house and occupy some of the available space. .

The ability of flooring types to withstand prolonged use.

Can be cleaned and repaired.

The use of the space determines the quality of the flooring.

The most important types of flooring used:

ceramics:

When choosing the type of flooring that requires waterproofing, ceramic tiles are  The best option, characterized by a superior ability to resist moisture and various weather factors, ceramics do not need much maintenance and are characterized by ease of installation, ease of cleaning, stain resistance, scratch resistance, and fire resistance, and ceramics have multiple uses in the walls and floors of homes and shops for their ability to withstand oils, stain resistance, and ease of cleaning.

Porcelain:

A type of flooring similar to ceramic but harder, resistant to heat, weight and scratching, unable to absorb colors and stains, its gloss is permanent and does not need to be polished after installation, and it is similar to marble, granite and ceramic, and it is of various sizes and colors and is free of clay.

Marble:

It is considered one of the most used floors in hotels, companies and homes, and marble needs special care in cleaning and must not reach any acidic cleaner or soda water, especially ammonia, and marble can be maintained and polished to maintain its shine and luster, and marble is widely used in kitchens and stairs for its great endurance. Marble is also used as a building material.

One of the most beautiful forms of flooring is carpet marble, which is installed with small, multicolored marble pieces that are cut with a waterjet machine.   

Granite :

It is a fiery natural rock, characterized by its hardness and resistance to external factors, and it has a rough surface, and has many uses in the floors of stairs and kitchens  For its ability to withstand heavy weights and friction, it has also been used since ancient times to make statues and columns.

Granite has hardness and durability, so it does not scratch or break easily and withstands heat and cold, so it is preferred to be used for kitchens in abundance, especially above the cabinets to withstand the heat of pots, gas and other factors.

Its shapes and colors vary, as do its sizes, but the most distinctive and luxurious form is granite with added shapes and colors of marble, and this is what happens when it is cut with a machine called a waterjet.

Parquet :

It is one of the oldest types of flooring, and it is used in homes to inspire warmth, luxury and sophistication, and wood has natural flexibility, which gives a sense of comfort while walking on it, and wood is characterized as a heat and sound insulating material, and parquet requires special care, as it must be preserved from sand grains and dust my understanding is like sanding that causes scratches, and it must be preserved from water and liquids that work to corrode the flooring. .

Wooden floors give a feeling of warmth, and there are some types of wooden floors that give a stone texture, including manufactured and natural, which lasts for a long time and creates an atmosphere of luxury and elegance in the home.

Among the disadvantages of wooden floors: It needs a lot of attention, it is affected by moisture quickly, do not use water to clean it, it may be exposed to scratches or holes. .

Vinyl :

A type of flooring that is easy to install and preferred by many, and there are currently many types and forms of good vinyl on the market, some of which are sold by the meter as large pieces, and it is preferable to stick the vinyl to the ground to prevent water and dust leakage under it, and vinyl is characterized by easy cleaning and resistance to stains, easy to change and install on any type of ceramic, tile or wood. .

Vinyl flooring can be used on any surface whether it's tile, wood or ceramic tiles. It gives a different texture in a variety of styles such as wood, ceramic or marble.

Vinyl flooring is less expensive than others, and the thicker the floor, the longer it will last, and it is easy to clean, stain-resistant, and suitable for all rooms of the house.

tiles:

It is made of white cement, sand and quartz, including cement tiles, mosaic tiles, or marble fracture tiles, which are the most widespread, and the tiles are characterized by their super strength and resistance to friction, and due to this, it is preferred to be used in the courtyards of villas and gardens, including aesthetic forms that resemble colored mosaics that are used in distinctive decorative forms.

Muket:

A type of flooring that adds elegance and beauty to the place, including beautiful shapes with or without patterns, and muket is made of synthetic fibers that may be long or short, and muket is found in large areas covering the entire floor of the place, and it is widely used in cold places, but some recent scientific studies have warned of its health damage to children and chest allergy patients.

“Sarai Development continues to excel with 147 villas, tourism and residential projects and a commercial tower

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Sarai Development Company is distinguished by its institutional identity and its role in the development of the Saudi real estate market, and its work that is reflected in the development of many future real estate projects and has long experience in housing and real estate development projects with an ambitious vision in light of distinguished real estate, financial and administrative expertise, the company works according to the requirements of the era and develops projects of various uses in ways that meet the needs and requirements of future generations by providing urban products based on touching the needs of customers with a modern real estate vision and solutions.

96 villas in Al Marsa project

After the success of the first phase of the Al Marsa project, the company launched the second phase of the project with a number of 96 units with high specifications that meet the aspirations of customers, and the company will also launch this year Sarai Villas in Al Taawun neighborhood with a number of units up to 51 villas distinguished by location and design as all of our projects.

Dragon Hotel

On this occasion, Engineer Mohammed Alaa Jazba, General Manager of the company, explained that the Dragon Hotel project with an estimated capacity of approximately 100 units with 48 villas attached to it will be the third phase of the Al Marsa project in a strategic partnership with Arbah Capital through the launch of real estate funds.

Saray Commercial Tower

As an extension of the company's strategic projects, Sarai intends to launch Sarai Commercial Tower, which will be a unique landmark and a new step in the world of commercial services offered to the financial and business world in terms of achieving a practical environment that helps companies work comfortably where services are integrated and comprehensive for all requirements.

Soon we will launch Sarai Residential Tower, which is dedicated to ownership apartments, overlooking the sea and with high-end services.

Insulation factory produces fire-resistant and environmentally friendly rock wool with international standards

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When laws are enacted in any society, they certainly aim to serve society and lift the burden on citizens, and laws have been enacted that specialize in the necessity of using thermal insulation in buildings, whether residential, commercial or even government buildings, and there are many thermal insulators on the market, some of which are made from natural materials such as rocks and some of which are made from petrochemical materials.

Rock wool manufacturing

In the rock wool insulation factory, we produce rock wool from volcanic basalt rocks, which are abundant in the Medina region, and rock wool is produced in the form of slabs or rolls. Rock wool is made from basalt molten at 1500 degrees Celsius, then poured onto steel discs that rotate at 4800 r/min to produce rock wool fibers that are collected and pressed in an automatic way, and to make it easier to visualize the production process, it is similar to It is also produced in different thicknesses and densities ranging from 3 cm to 10 cm and from a density of 40 kg / m3 to 170 kg / m3, and it is noted here that there is a big difference as the rock during the production process changes from a density of 3000 kg / m3 to 40 kg / m3.

The most fire-safe material

Rock wool material is considered one of the safest materials when fires occur, as it is a material that does not burn and does not help combustion, and when fires occur, it does not emit any type of toxic gases such as petrochemical materials when a fire occurs, and carbon monoxide is produced in the form of a gas, which is one of the most toxic gases and is called the deadly gas.

 

World-class production

Rock wool is used in thermal and sound insulation and is used as a fireproof material and prevents the transmission of fire from one place to another, and rock wool is produced according to international standards and specifications and rock wool is considered an environmentally friendly green material, and Saudi specifications have determined the value of the thermal resistance of walls in the main cities of the Kingdom with a value of 2.This value requires the construction of two double walls of red clay bricks with 5 cm thick rock wool between them, and the truth is that although it is said that the cost of construction will increase from the enactment of this law, in fact, it will reduce electricity consumption by at least 70%. .

Mixed opinions among real estate professionals on setting an annual percentage to increase the value of rental contracts

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Similar to the imposition of fees on white lands, some opinions and proposals that call for (controlling) the real estate rental market by the intervention of the Ministry of Housing to regulate the relationship between the landlord and the tenant in order to set a specific percentage increase on the rental value during certain periods of time, according to their justification that this measure will reflect positively on the housing cost crisis, both for sale and rent, more than the impact of imposing fees on white lands.

The Cabinet issued Decision No. 221, in which it was decided that properties rented before 1-1-1394 AH would be increased by 20%, while properties rented after that would remain rented during 1401 AH and 1402 AH without increase, in addition to giving freedom to the lessor and the lessee to agree on the rents that they agree on, starting from the beginning of 1403 AH.

A number of real estate professionals suggested that a mechanism be put in place to increase the value of rental contracts by an increase not exceeding 5 percent of the rental value, provided that this increase is every two years, while others have reservations, pointing to the importance of preserving the freedom of the market and their fear that investors and developers will stay away from the sector as a result of the application of such a proposal.

In this context, legal advisor Khalid bin Othman Al-Rukban, a member of the Saudi Regulations Association, said that in order to preserve public money and safeguard it from any manipulation, the executive regulations of the State Real Estate Leasing and Vacation Law stipulate that the rent may be increased by no more than 5% of the first rent if the extension is for one year, and no more than 10% of the first rent if the extension is for more than one year. However, due to the economic renaissance and attractiveness of the Kingdom's business environment, which enabled it to rank eighth in the world in attracting foreign investments and first in the Middle East region, a group of real estate owners in various cities of the Kingdom took advantage of this renaissance.

For his part, M. Talal Abdullah Samarkandi, Chairman of the Engineering Offices Committee at the Jeddah Chamber of Commerce, said that the implementation of such a proposal can be implemented in all cities of the Kingdom, with the exception of the holy cities of Makkah and Medina due to the huge expansion works that these two cities are witnessing.

Samarkandi pointed out that applying the available laws in this aspect and studying them in a way that ensures that landlords do not significantly increase rents on tenants in a way that does not constitute injustice or harm to those landlords is healthy and okay, pointing out that this also applies to reducing the value of rent if there is a new development that calls for it.

For his part, businessman and real estate developer Ibrahim Abdullah Al-Subaie said that such a proposal may carry a number of negatives, mainly contributing to the reluctance of investors from the sector, in addition to making the tenant of the real estate eye, whether it is a store or a residential unit, stick to it and refuse to leave, which will result in a weak supply and make many rent seekers not find it, but that does not prevent a positive in such a proposal related to limiting the excessive increase in rental prices.

Al-Subaie said that it is necessary and important for the secretariats and authorities granting construction and related licenses to reduce the period of granting licenses to developers and investors so that there is proportionality and balance in the rate of supply and demand, especially in an era when electronic dealing is available and many government and private agencies have succeeded in reducing the time taken for transactions, and as long as investors and developers exist, money exists, land is available and there are no obstacles, we will see an expansion of construction and thus an increase in supply that will restore balance to the market and limit the rise in property prices, both buying and selling.

 

 

Train and bus pavilion impresses visitors to the Public Transportation Exhibition, and Dhafra is the bride of the event

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The Supreme Commission for the Development of Riyadh (SCD) showcased the King Abdulaziz Public Transport Project in Riyadh by train and bus, during its participation in the exhibition of the Kingdom's leading public transport projects, which kicked off last Sunday and is receiving visitors until Wednesday evening at the Riyadh International Convention and Exhibition Center (RICEC).

Touchscreen project review

The pavilion, which attracted the attention of visitors and exhibitors from government agencies and the private sector, contained several sections in one pavilion, including a section to introduce the Riyadh train and bus project and its main components, and three corners for the international consortiums implementing the train project, namely BACS, FAST and Riyadh Neomobility, in addition to a special section for the public transportation company consortium implementing the Riyadh bus project. The Supreme Authority has utilized the latest display technologies in its booth, including visual technologies through giant screens that display documentaries about the project, interactive display technologies through electronic panels that display a map of the project's routes and stations by touch, miniature models of the designs of the four main stations, informative wall panels and infographics that explain the most important elements of the project and its components.

176 kilometers and 85 stations

One of the most prominent elements of the pavilion was the placement of a large satellite image of the city of Riyadh in the form of a glass panel on a large part of the pavilion floor, explaining the train and bus routes in the city, with six lines lit in the colors of the train routes, each of which ends at the corner of the consortium implementing the route, and a seventh line that connects to the pavilion of the consortium implementing the Riyadh bus project. The pavilion also revealed the main stations of the train and the levels of the stations, which varied from above ground level to at ground level and below ground level.

The pavilion focused on the Riyadh Metro network, which forms the backbone of the public transportation system in Riyadh, with a length of 176 kilometers and 85 stations, covering most densely populated areas, government facilities, commercial, educational and health activities, and linking to King Khalid International Airport, King Abdullah Financial Center, major universities, downtown and the public transportation center.

Three global consortia

The sections of the consortiums implementing the project at the pavilion included an introduction to the international companies participating in the consortium, a presentation of their expertise and experience in the implementation and operation of many public transportation projects in major capital cities in the world, an explanation of the routes implemented by the consortium within the King Abdulaziz Public Transport Project in Riyadh, and the most prominent works completed in these routes so far, in addition to introducing the job opportunities currently available for qualified Saudi cadres within each consortium.

Tunnel boring machines, Zafra and its sisters

On a huge television screen, a large number of visitors gathered to watch the work of the giant train digging machines, including the ”Zafra” machine, which won the admiration and surprise of the audience and attracted the lenses of photographers, and 7 giant tunnel digging machines, each of which ranges between 90 and 120 meters in length, can dig at depths of up to 30 meters safely underground and do not affect the structure, and neighbors do not hear noise or vibrations and perform many tasks, including: Moving soil, building tunnel walls and laying railroads inside the tunnels.

Saudi Health Exhibition and Conference 2015 is a spotlight on science and marketing skills

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With the participation of more than 350 exhibitors in an exhibition area of 8,000 square meters, the Minister of Civil Service, Mr. Khaled Al-Araj, on behalf of the Minister of Health, Engineer Khaled Al-Falih, opened the Saudi Health Exhibition and Conference 2015, in the presence of a number of healthcare professionals, at the Riyadh International Convention and Exhibition Center. The three-day event showcased a wide range of innovative healthcare solutions and the latest in medical device technologies.

Scientific-Marketing Forum

On the sidelines of the opening ceremony, His Excellency the Minister of Civil Service emphasized the importance that the wise leadership attaches to the health sector and serving the citizen's health, pointing out that the exhibition in its current edition has received wide participation from companies with innovative solutions that showcase the latest medical products. The exhibition formed a forum that brings together healthcare professionals, medical service providers, health insurance companies, medical technicians, pharmacists, pharmaceutical manufacturers, medical devices and major hospitals that were keen to introduce their new products and services. This made the exhibition a scientific and technical focus that blended with various marketing methods in a strong and honorable competition for companies that reveals the strength and durability of the Saudi market in the health field.

Unlimited attention and support for the exhibition

  The exhibition, which is the largest health exhibition and conference in the Kingdom, was sponsored by the Ministry of Health and supported by many competent authorities such as the Saudi Center for Accreditation of Health Facilities, the Saudi Food and Drug Authority, the Saudi Radiology Society, the Saudi Heart Association, the Saudi Scientific Society for Medical Engineering, the Saudi Society for Medical Physics, the Sultan bin Abdulaziz Charity Foundation, King Fahd Medical City and the Saudi Society for Medical Radiology Technology, while Al Faisaliah Medical Systems Company was the diamond sponsor of the event.

An organization that contained the crowds

This edition of the exhibition was characterized by the large number of exhibitors and the coverage of all aspects and specialties of health, which made visitors flock to the corridors of the exhibition, which was well organized by Riyadh Exhibitions Company Limited, providing all the requirements for success and achieving the desired goals, It provided exhibitors with a suitable opportunity to enhance direct communication with decision makers, customers and existing partners, as well as explore new business opportunities and promising prospects to enhance their presence in the Saudi and regional markets. In return, visitors to the event had the opportunity to learn about the latest innovative solutions in the field of health care and meet policy makers from the government and private sectors, and representatives of major international companies to expand supply channels for products and services and transfer advanced technologies.

Training conferences and lectures

The organizer of the exhibition has dedicated special halls prepared to host a series of CME-accredited conferences on current and future trends in the field of healthcare. Educational conferences and training lectures were held by academics and experts from abroad from various medical specialties, as part of the transfer of expertise  This ensured that participants were able to obtain accredited hours by the Specialties Commission, which serves the needs of the Saudi healthcare market and the training needs of the Kingdom of Saudi Arabia.

Wide government participation

Many government agencies participated in the exhibition, led by the Ministry of Health, which focused on presenting the services provided by the ministry to citizens and residents and ways to contact service providers. The Saudi Health Council also presented the projects it offers in several areas, such as its implementation of the Kingdom-wide healthcare strategy, the medical coding program, and the common electronic health file. The Saudi Food and Drug Authority provided answers to inquiries from businessmen and company owners about the registration of medicines and devices, and the Saudi Export Development Authority participated in the exhibition.

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Under the patronage of His Royal Highness Prince Faisal bin Khalid bin Abdulaziz, Governor of Asir Region, and with the participation of 40 national companies from inside and outside the Asir region, and a number of banks and financing companies. The Abha Real Estate and Financing Solutions Exhibition, which is supervised by the Abha Chamber of Commerce and Industry, the National Program for Conferences and Exhibitions, and the program and organization of Nabtan International Exhibitions and Conferences, concluded for 3 days at the Abha Palace Hotel, and the exhibition was generously sponsored by the Ministry of Housing and the Ministry of Commerce and Industry.

Opening ceremony

The opening ceremony was honored by the Undersecretary of the Emirate of Asir Region, Suleiman Al-Juraysh, in the presence of the Vice Chairman of the Abha Chamber, Engineer Saleh Hussein Qadeh, and toured the wings of the accompanying exhibition and viewed the real estate plans, residential and commercial buildings and models of projects and towers prepared by the participating companies to attract their customers and explain their products to the public, and the participation of exhibitors varied between developers and real estate marketing companies, as well as owners of residential and commercial projects, and banks, banks and specialized companies participated to present their financing programs to the public and real estate companies.

Interest in real estate facilities and opportunities

The activities of the exhibition and its participants focused on the real estate marketing of the Asir region and explaining the procedures for owning real estate and the facilities for this, and included the definition of real estate investments. The exhibition focused on the most important attractive features of owning real estate in the region and creating a real estate investment destination that highlights the government role in the field of housing, upgrades real estate marketing methods, and introduces the latest designs and trends in this field, as the exhibition targeted the most famous real estate developers, financing specialists, property owners, marketers, government agencies and investors.

The exhibition recorded a remarkable attendance by the public, who interacted with exhibitors and marketing companies and focused on price offers and the possibility of owning the property through various financing solutions from banks and specialized companies.

Featured posts

The participation of the Ministry of Housing and Trade and the Real Estate Development Fund is one of the most important features of this exhibition, which was attended by a group of well-known businessmen in the field of real estate at the level of the Kingdom, and constitute new and modern visions and concepts in the field of real estate and construction and innovative methods in building designs, decoration works and real estate, and the participants included many plans and models presented in the real estate market with a different vision that represented the trends of modernity and creativity in the real estate market in the region, and participants were active in presenting investment opportunities and studying proposed price offers and financing solutions regarding real estate in general.

Pioneering role of Abha Chamber

On the sidelines of the exhibition, M. Saleh Hussein Qadeh, Vice Chairman of the Board of Directors of the Chamber of Commerce and Industry in Abha, said that such gatherings allow competition and exchange of experiences among investors, noting that the exhibition represented a forum to discuss real estate issues and issues to open the door for cooperation and exchange of experiences among them. Especially since the exhibition is held for the first time in the Asir region, and focused on marketing the region real estate to present ideas, designs and opportunities for its policy of upgrading the supply and demand mechanism and opening the way for the exchange and presentation of the latest developments in real estate planning and development with pioneers in this field, which made the Chamber of Commerce and Industry in Abha keen to provide its support for this real estate product and adopt such initiatives that will have a great impact in marketing Asir on the real estate level and bringing the region to a comprehensive real estate renaissance.

 Almoosa & Sons is a sponsor of the exhibition  

Mousa Bin Abdulaziz Al Mousa & Sons Company participated in a distinctive sponsorship of the Abha Real Estate and Financing Solutions Exhibition in Abha at the Abha Palace Hotel, which concluded on May 21, 2015. The company had signed a sponsorship agreement with the organizer of the event as part of the company's interest in supporting events that promote the real estate market and provide fruitful and easy solutions for citizens. .

Almoosa's sponsorship resonated well with the organizers and participants due to the company's weight and presence in the real estate market, as well as its services and continuous support for such events.

 

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