What is the current state of the real estate market in Riyadh city<\/a> Especially in the Kingdom as a whole? Has the market already been negatively affected by the repercussions of the global financial crisis that has rocked world markets? And has it actually and practically begun to recover from the fallout of this crisis? Is the real estate market on the verge of a boom and a genuine upswing, or is it still far from such a boom? These questions\u2014and others circulating within the real estate and real estate investment industry\u2014were posed by \u201dAmlak\u201d to a number of major players in the real estate investment and development market, as well as to officials at real estate agencies, in order to uncover the truth and help readers\u2014including citizens searching for suitable housing and those interested in real estate matters\u2014understand what is happening in the market and learn about their visions and expectations for the market\u2019s foreseeable future\u2026 Here are the results\u2026 Let\u2019s take a look:<\/p>\n\n\n\n A number of investors, real estate developers, and real estate agency managers in Riyadh confirmed that Real estate market<\/a> Riyadh in particular, and the Kingdom in general, have begun to overcome the effects of the global financial crisis, after it forced real estate investors to pause and assess where the crisis might lead, especially since some projects faced delays or their developers chose to suspend work due to a shortage of funding and banks\u2019 reluctance to provide financing out of fear for their own funds amid the crisis and the uncertainty at the time regarding the crisis\u2019s full extent and its complications.<\/p>\n\n\n\n However, in their interviews with \u201cAmlak,\u201d these investors and real estate experts expressed their confidence that Riyadh is on the verge of an unprecedented real estate boom, especially given that the Saudi real estate sector possesses enormous potential and significant strengths. They also predicted that the market would see significant diversity in the types of projects, and some suggested a trend toward comprehensive real estate development in the coming period, as well as the strong entry of major developers into the market.<\/p>\n\n\n\n For his part, Mr. Fahd bin Abdullah Al-Ajlan, Chairman of the Board of Directors of Ra\u2019ik Real Estate Company, said that the winds of The Global Financial Crisis<\/a> It has undoubtedly affected the real estate sector in Riyadh and the Kingdom as a whole, as real estate is closely tied to crises that affect markets and economies in general\u2014whether at the local, regional, or global level. However, he emphasized that the factors behind the crisis have largely subsided in global markets, and although the real estate sector was affected to varying degrees from one region to another, it is certain that the crisis is now behind us. There is no doubt that the market is heading toward a period of strong growth and recovery that will transform the landscape. For his part, Engineer Hamza Al-Attas, General Manager of Durra Riyadh Real Estate Development Company, emphasized that the Saudi real estate market is strong and built on solid and secure foundations, and that it is also a promising market. He said that it has already begun to shake off the limited effects it suffered in the form of a partial recession resulting from the fallout of the global financial crisis that rocked major world economies, but he emphasized that the impact on the Kingdom\u2019s real estate market was limited. However, Al-Atas emphasized the national economy\u2019s capacity and strength to cope with such crises and absorb their repercussions\u2014a point that also applies to the Saudi real estate sector, which he described as possessing immense capabilities and strengths that enable it to weather crises. The real estate sector also perfectly and aptly embodies the saying that \u201dreal estate may falter, but it never dies.\u201d.<\/p>\n\n\n\n He said that it was not surprising that the Kingdom\u2019s real estate market was affected by the fierce winds of the global financial crisis, which shook major economic powerhouses and brought down long-established economic entities; however, he noted that the impact on our real estate sector was nevertheless limited, and that impact was perhaps most clearly evident in the hesitation of a number of investors and real estate developers to proceed with certain real estate projects after being shaken by the global financial crisis\u2014a natural right that no one would deny them. He asked: If an investor finds himself in the midst of a raging storm\u2026 isn\u2019t it logical and prudent to refrain from continuing to pour investments into such an environment, and to stop laying the foundations of a massive project that could be swept away by hurricanes?!!<\/p>\n\n\n\n As for the General Manager and Executive Partner of the company Basma for Property Management<\/a> Professor Khalid Shaker Al-Mubayyad believes that the real estate market has been significantly affected by the global crisis, but he emphasized that the Saudi real estate market has the fundamentals that have enabled it to recover quickly due to genuine domestic demand, He believes the impact was psychological and immediate, resulting from banks halting financing for real estate developers, which led to a shortage of real estate projects. For his part, Mr. Saud Al-Rashoudi, CEO of Danat Real Estate, affirms that the real estate market is stable and its future is bright, God willing, given the balance between supply and demand, He acknowledged that the global financial crisis had cast a significant and profound shadow over the real estate market, particularly on the sources of financing that fuel the market, as many banks had become cautious about providing financing; however, he emphasized that this crisis was overcome quickly and flexibly.<\/p>\n\n\n\n He argued that the huge volume of demand refutes the notion that the real estate market is experiencing a genuine slump, adding: \u201dAlthough we do occasionally witness periods of real estate activity that exceed reasonable levels, these quickly return to normal, and naturally, real estate is considered a slow-moving market,\u201d He emphasized that we are heading toward an unprecedented real estate boom given the demographic characteristics of a modern country like the Kingdom, but he believes this boom will feature significant diversity in the types of properties offered to the market.<\/p>\n\n\n\n Al-Rashoudi predicted that the market is poised for comprehensive real estate development and will see the gradual entry of large developers, who will replace small and medium-sized developers that currently account for 80 % of real estate development in the market, He also predicted that the market would see a major shift in the names of key players. As for officials at real estate agencies, their views were in line with those expressed by investors and real estate developers.<\/p>\n\n\n\n Mr. Salem bin Abdullah Al-Marri, CEO of Al-Said Real Estate Company, confirmed that the real estate market is doing well.<\/p>\n\n\n\n There is high demand for private housing (villas and owner-occupied apartments) in Riyadh, especially in the new outlying areas.<\/p>\n\n\n\n He emphasized that demand far exceeds supply.<\/p>\n\n\n\n For his part, Mr. Rayan Al-Natefi, General Manager of Al-Natefi Real Estate, confirms that demand is high.<\/p>\n\n\n\n He noted that this is particularly evident in the northern and western areas of Riyadh, where he specializes in working, but he said that the prices are excessive.<\/p>\n\n\n\n For his part, Mr. Muhammad Khalil Al-Saba'an (Dawaween Real Estate Company) confirmed that demand for housing is high and exceeds supply,<\/p>\n\n\n\n He acknowledged that the global crisis had affected the Kingdom's real estate market, but said its impact was limited due to the strength of the national economy<\/p>\n\n\n\n and its ability to absorb the effects of the crisis, and he emphasized that the real estate market is poised for a major boom.<\/p>\n\n\n\n The speakers unanimously agreed on the importance of enacting the mortgage law and its supplementary regulations, noting that they will help support and stimulate the real estate market,<\/p>\n\n\n\n Many of them also urged others not to be swayed by certain rumors being spread by some people in the real estate market.<\/p>\n\n\n\n which they consider to be false and without a sound basis, without disclosing the nature of these rumors.<\/p>\n\n\n\n They called for a focus on well-planned projects that benefit citizens and help drive development,<\/p>\n\n\n\n Staying away from the real estate speculation market, as it is unsafe, and moving toward well-planned real estate development, which holds the key to the future of this promising real estate market,<\/p>\n\n\n\n Some also called on decision-makers to quickly establish government agencies responsible for regulating the real estate market.<\/p>\n\n\n\n Reading time: <\/span> 5<\/span> Minutes<\/span><\/span>Real estate overcomes the effects of the global financial crisis and the boom is coming strongly.Market conditions are good and major developers are gradually returning with giant real estate investment projects.Offices complain: Demand is greater than supply, but prices are overpriced!!!Warnings against rumors and speculation, and the mortgage moves the real estate investment market and supports it. \u201dReal estate is sick and does not die\u201d and real estate investment has no fear What is the reality of the conditions of ... Read more<\/a><\/p>","protected":false},"author":34,"featured_media":20388,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"\u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0627\u0644\u0639\u0642\u0627\u0631\u064a "\u0623\u0645\u0644\u0627\u0643" \u062a\u0633\u062a\u0637\u0644\u0639 \u0622\u0631\u0627\u0621 \u0627\u0644\u0645\u0633\u062a\u062b\u0645\u0631\u064a\u0646 \u0648\u0627\u0644\u0645\u0637\u0648\u0631\u064a\u0646 \u062d\u0648\u0644 \u0627\u0644\u0623\u0632\u0645\u0629 \u0627\u0644\u0645\u0627\u0644\u064a\u0629 \u0648\u062a\u0623\u062b\u064a\u0631\u0647\u0627 \u0639\u0644\u0649 \u0627\u0644\u0639\u0642\u0627\u0631","_seopress_titles_desc":"\u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631 \u0627\u0644\u0639\u0642\u0627\u0631\u064a "\u0623\u0645\u0644\u0627\u0643" \u062a\u0633\u062a\u0637\u0644\u0639 \u0622\u0631\u0627\u0621 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real estate sector is overcoming the effects of the global crisis<\/h3>\n\n\n\n
The repercussions of the global crisis are fading<\/h3>\n\n\n\n
Al-Ajlan added that the real estate market typically experiences strong momentum and a surge following periods of reflection, deliberation, and pause, and this is what is expected to happen in the Saudi market. He noted that the real estate sector is awaiting the issuance of the mortgage law and complementary real estate regulations, which will have positive effects on the development and revitalization of the market.<\/p>\n\n\n\nLimited impact<\/h3>\n\n\n\n
He noted that there is no shame in acknowledging that the Kingdom\u2019s real estate market has been affected by the repercussions of that crisis, but rather that it is a healthy and logical phenomenon for the Kingdom\u2019s markets and economy to be affected by the economic shifts and interactions taking place around the world, given the prevalence of globalization and the openness of the Saudi economy and markets to global economies and markets.<\/p>\n\n\n\nIt's no shame for the market to be affected by the crisis!<\/h3>\n\n\n\n
New Challenges Facing Real Estate Investment <\/h3>\n\n\n\n
As for whether the real estate market is experiencing a genuine slump or has begun to shake off its effects, Al-Mubayyad said that, thank God, the market has begun to recover, but there are new challenges facing real estate developers, and those who can deal with them wisely and overcome them will benefit, God willing. He predicted that the coming years will be years of real estate development.<\/p>\n\n\n\nWe are on the verge of an unprecedented boom<\/h3>\n\n\n\n
Top developers are coming<\/h3>\n\n\n\n
Regarding the role of Saudi banks in real estate financing, Al-Rashoudi noted that banks in general strongly encourage real estate financing, but only for individuals. As for developers and investors, he believes that banks are very cautious about financing their projects.<\/p>\n\n\n\nReal estate agencies confirm: The market is strong and demand is high<\/h3>\n\n\n\n
Mortgages Drive the Market<\/h3>\n\n\n\n
Beware of rumors and speculation<\/h3>\n\n\n\nKey Points on Surveys and Real Estate Investment<\/h3>\n\n\n\n
Warnings Against Rumors and Speculation... While Mortgages Drive and Support the Market.<\/h3>\n\n\n\n
The Saudi real estate sector has enormous potential and significant strengths.<\/h3>\n\n\n\n
Experts predict that the market will see a wide variety of projects.<\/h3>\n\n\n\n
Real estate agencies complain: Demand exceeds supply, but prices are too high!!<\/h3>\n\n\n\n
Saud Al-Rashoudi said that the real estate market is stable and its future is bright, God willing, given the balance between supply and demand,<\/h3>\n\n\n\n
Fahd Al-Ajlan: That the winds The Global Financial Crisis<\/a> It has undoubtedly had an impact on the real estate sector in Riyadh and the Kingdom as a whole.<\/h3>\n\n\n\n
Fahad Al-Ajlan: The factors behind the crisis have largely subsided in global markets, although the real estate sector has been partially affected.<\/h3>\n\n\n\n
Engineer Hamza Al-Attas: The Saudi real estate market is strong, built on solid and secure foundations, and holds great promise.<\/h3>\n\n\n\n
Engineer Hamza Al-Attas: There is no shame in admitting that the Kingdom\u2019s real estate market has been affected by the repercussions of that crisis.<\/h3>\n\n\n\n
Engineer Hamza Al-Attas: \u201dReal estate gets sick, but it never dies.\u201d.<\/h3>\n\n\n\n
Salem Al-Muri: The real estate market is strong, and there is high demand for residential properties (villas and owner-occupied apartments) in Riyadh.<\/h3>\n\n\n\n
Professor Rayan Al-Natefi: Demand is high, especially in the northern and western areas of Riyadh, where he specializes in working.<\/h3>\n\n\n\n
Mohammed Al-Saba'an: Demand for housing is high and exceeds supply, and the global crisis has affected the real estate market in the Kingdom.<\/h3>\n\n\n\n
Mohammed Al-Saba'an: The real estate market is poised for a major boom. <\/h3>\n\n\n\n
\u201dReal estate gets sick, but it never dies.\u201d.<\/h3>","protected":false},"excerpt":{"rendered":"