{"id":14244,"date":"2017-01-08T12:54:25","date_gmt":"2017-01-08T09:54:25","guid":{"rendered":"http:\/\/www.amlak.net.sa\/?p=14244"},"modified":"2017-01-08T12:54:25","modified_gmt":"2017-01-08T09:54:25","slug":"%d8%a8%d8%ad%d8%b6%d9%88%d8%b1-%d8%b5%d8%ad%d9%8a%d9%81%d8%a9-%d8%a3%d9%85%d9%84%d8%a7%d9%83-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d9%8a%d9%88%d9%86-%d9%81%d9%8a-%d8%af%d9%8a%d9%88%d8%a7%d9%86","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/14244\/","title":{"rendered":"In the presence of Amlak Newspaper. Real estate professionals at the \u201cWednesday Diwaniyah\u201d in Riyadh emphasize: 2017 is an exceptional year for market recovery"},"content":{"rendered":"

In an exceptional evening and an atmosphere full of love, communication and acquaintance, the city of Riyadh witnessed last Wednesday evening, January 4, 2017, its most beautiful real estate nights, as it turned the cold weather of the city into warm with the heat of extensive discussion on current economic issues, and the attention of the businessmen who flowed successively to the diwaniyah was attracted by the good arrangement, organization and preparation of the place in a wonderful way, which was done by the organizers and businessman Ahmed Al Saif, host and sponsor of the Wednesday Diwaniyah, in the presence of a team of Amlak Real Estate Newspaper, in the presence of a team from Amlak Real Estate\u00a0 <\/span>With the participation of the editor-in-chief, Mr. Abdulaziz Al-Issa.<\/p>\n

\"Wednesday<\/p>\n

Al-Dakhil: Is the drop in \u201ccommercial or residential\u201d<\/strong><\/span><\/p>\n

The meeting was attended by a large number of real estate professionals and businessmen from all sectors.\u00a0 <\/span>Mr. Abdullah Abdulaziz Al-Dakhil delivered a speech in which he welcomed the attendees, appreciating their participation in this important real estate forum, addressing a number of questions that revolve around the economics of real estate through the status of the real estate market at the present time, is it stagnation or decline in commercial or residential?<\/p>\n

\"%d8%ae%d8%a7%d9%84%d8%af-%d8%a7%d9%84%d8%b9%d8%ac%d9%84%d8%a7%d9%86-%d9%88%d8%a7%d8%a8%d8%b1%d8%a7%d9%87%d9%8a%d9%85-%d8%a7%d9%84%d9%82%d8%b2%d9%84%d8%a7%d9%86\"<\/p>\n

Ajlan: The economic map will give birth to new names<\/strong><\/span><\/p>\n

For his part, Mr. Khalid bin Mohammed Al Saad Al Ajlan reassured the audience that the real estate market is safe and secure, as it still enjoys the characteristic of real estate that is sick and does not die, and has continued to record remarkable stability and recovery, and is resistant to the darkest economic conditions and global and regional fluctuations,\u00a0 <\/span>Since the end of the reign of King Khalid bin Abdulaziz (may God have mercy on him), real estate has not contracted except for this year, with small and varying percentages from one region or city to another, adding: \u00abAccording to our thirty years of experience, we believe that these fluctuations and shrinkage are the natural cycle of the commercial market and are livelihoods divided by God Almighty in his wisdom and favor to people, and thank God in general the Kingdom's market is reassuring and depends on the population of the country and the demand is real demand.\u00bb Khalid Al-Ajlan considered that the current market will reorganize again and new names will appear on the map, expecting that the next stage will witness greater investment opportunities in terms of actual value.<\/p>\n

\n

Khalid al-Mubarakid: 2017 won't be a dark year<\/strong><\/span><\/p>\n

In the same context, real estate expert Mr. Khalid Al-Mubaid denied that 2017 will be a black year for the real estate market, noting that\u00a0 <\/span>A number of incentives and facilities offered by H.E.\u00a0 <\/span>Housing Minister Majid Al-Hogail and many positive data, referring to the \u00abCompletion\u00bb program, which will greatly improve the tasks of real estate developers and the on-map sales system \u00abWafi\u00bb, thus reviving the market, which will support the demand process of the citizen in terms of quality and prices, and Khaled Al-Mubaid pointed out that all current indicators lead to a logical analysis that 2017 will witness an interaction and movement led by developers and citizens, especially since the Real Estate Fund announced the largest payment in its history will be during this year.<\/p>\n

In the course of his speech, Mr. Al-Mabid explained that there are 650 million square meters inventoried by the Ministry, is there readiness to develop these lands, is there a demand for them now? Is there a response from the financing agencies, and said that we cannot comment on white land fees while it is in its first stage, noting that society does not benefit anything from those who keep their white lands, and Al-Mabid expected the refinancing company to provide liquidity to develop and enhance the performance of the real estate sector. Commenting on the existence of these areas in the white land file, he said: \u00abThis is a huge size, so is there a willingness to develop it? If half of it is developed, it will be the largest real estate development.\u00bb.<\/p>\n

Then the last theme dealt with the great opportunity for the real estate market to flourish in 2017, as studies showed that the residential sector faced a decline in the volume of transactions amounting to 35%, and that the commercial sector recovered and increased demand after\u00a0 <\/span>Clarification of municipal fees, which is in any case better than the residential sector.<\/p>\n

\"Ahmed<\/p>\n

Safety: In the womb of crises, investment opportunities are created<\/strong><\/span><\/p>\n

As for real estate developer Ahmed Al-Salama, he said that there is an important economic rule that we must take advantage of, which is that in the womb of crises, investment opportunities are created, and he pointed out that\u00a0 <\/span>Investing constructive ideas in the construction of residential units is the requirement, and Safety praised the opportunities that the Wafi and Tamamal programs can provide.<\/p>\n

He called for the necessity of dealing with the media in a scientific and thoughtful manner so that we do not fall in line with the users of social media channels (Facebook and Twitter) in what does not benefit us, and demanded the need for a specialized media platform for real estate professionals to counter the fierce attacks launched by some media professionals and Twitter users on them, and this demand comes similar to banks that have an organized media platform, He pointed out that we are not in disagreement with anyone, but we are against the attack on real estate, which negatively affects the reality of the real estate market, and at the end of his speech, Ahmed Al-Salama thanked the keenness of businessmen to attend to contribute and participate in this program, which, God willing, will serve the real estate community.<\/p>\n

\"<\/p>\n

Hisham al-Mousa: Landlords and developers should ally with developers<\/strong><\/span><\/p>\n

On the same topic, Sheikh Hisham bin Abdulaziz Al Mousa delivered a speech in which he talked about the fees on white lands and their role in reducing the cost for the developer, optimistic about the announcement of the Real Estate Fund to launch the largest batch of loans.\u00a0 <\/span>Al-Mousa called on the owners of white lands to look for solutions and enter with developers in alliances and partnerships to develop those lands, and thank God we enjoy safety in this country and the trust between investors and real estate men exists, which is undoubtedly achieved with cooperation and positive alliances that have a great return in creating opportunities for partners and providing housing within the reach of citizens and their financial ability, and the lands that are not developed now will be costly in the future for their owners.<\/p>\n

\"Deer\"<\/p>\n

Ibrahim Al-Qazlan : Financing will raise prices in the residential sector<\/strong><\/span><\/p>\n

In his remarks, real estate developer Ibrahim Al-Qazlan explained\u00a0 <\/span>He attributed the current stagnation in real estate development costs to fear and uncertainty about the fall or rise of real estate prices, and stated that people do not have the financial ability to buy housing units, so the product must be appropriately priced, indicating that financing will raise the price, while commercial will have little impact and is completely different from residential, because commercial will retain its value even if it is not sold and does not cause damage to the owner.<\/p>\n

Al-Awad: Increased Demand Linked to Funding Continuity<\/strong><\/span><\/p>\n

As for Mohammed Al Awwad, he believes that the growing demand for the residential sector dispels fear, only citizens have a lack of confidence, pointing out that during the existence of financing channels, demand was increasing, and Al Awwad indicated that developers are currently facing great challenges\u00a0 <\/span>The suspension of financing operations, the reduction of salaries and bonuses, and the lack of liquidity in the market, which makes it necessary for buyers to adapt to their conditions in the search for smaller apartments, expecting a drop in prices.<\/p>\n

The investor is looking for a rate\u00a0 <\/span>Income 10 %<\/strong><\/span><\/p>\n

In the same context, Afif Al-Yeha emphasized\u00a0 <\/span>The residential sector has a clear drop and people are waiting for the maximum drop, which will be in most residential neighborhoods in Riyadh, and he indicated that the investor is looking for a property with an income 10%.<\/p>\n

Conflicting opinions about the purchase<\/strong><\/span><\/p>\n

Another real estate agent added that opinions are sometimes mixed, as we find some bank employees do not recommend buying, while we find real estate agents urging people to buy! These different opinions abound in social media. .<\/p>\n

The real issue is funding<\/span><\/strong><\/p>\n

One realtor summarized the issue in financing, saying that in the past they used to take financing from banks in exchange for mortgaging the property, but now the banks do not encourage financing and do not pay you real incentives unless you have strong relationships, calling for looking for financing solutions.<\/p>\n

Predicted housing crisis to increase population growth<\/strong><\/span><\/p>\n

One of the interlocutors stated that the increase in the population rate has reached 3% and this increase has not been synchronized with the growth in the production of developers, which may lead to a real crisis in supply in the future.\u00a0 <\/span>There are currently about 120,000 ready-made housing units, of which 501,000 are valid, predicting a crisis within two years.<\/p>","protected":false},"excerpt":{"rendered":"

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