{"id":24298,"date":"2019-03-05T10:55:09","date_gmt":"2019-03-05T07:55:09","guid":{"rendered":"https:\/\/www.amlak.net.sa\/home\/?p=24298"},"modified":"2019-03-05T10:55:09","modified_gmt":"2019-03-05T07:55:09","slug":"%d8%b4%d8%b1%d9%83%d8%a7%d8%aa-%d8%b9%d9%82%d8%a7%d8%b1%d9%8a%d8%a9-%d9%85%d8%aa%d8%ae%d8%b5%d8%b5%d8%a9","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/24298\/","title":{"rendered":"CIRC5 real estate conference kicks off on Wednesday and discusses laying the right foundations for solving real estate issues. Amlak Newspaper is a specialized sponsor"},"content":{"rendered":"

On Wednesday, March 6, 2019, the fifth edition of the Saudi International Real Estate Conference \u201cSIRC5\u201d<\/a> organized by National Real Estate Committee at the Council of Saudi Chambers<\/a> The event was held at the Intercontinental Hotel in Riyadh, with the participation of the Ministry of Housing, the Ministry of Justice, the International Federation of Arab Real Estate and specialized real estate companies, under the title \u201cThe role of the real estate sector in maximizing GDP.\u201d.<\/p>\n\n\n\n

The two-day conference is under the patronage of Housing Minister Majid Al-Hogail, with the participation of a wide range of government and private entities related to the real estate sector and a group of local and regional speakers, and the conference will include real estate companies, real estate finance companies and interested parties from the sector. The conference includes a number of workshops where the workshops deal with the most important reforms of the Ministry of Justice in property registration and real estate emptying services, a workshop on the impact of building technology on the real estate sector, and a workshop on the role of the International Real Estate Federation in the sector.<\/p>\n\n\n\n

Laying the right foundations for solving real estate cases - Real Estate Companies<\/strong><\/h3>\n\n\n\n

For his part, Committee Chairman Hamad Al-Shuwaier revealed that the conference aims to lay the right foundations for the future of the real estate market in the Kingdom, contribute to the development of regulations and legislation for the Saudi real estate market and real estate finance companies, study and analyze new decisions, procedures and regulations in the real estate sector and anticipate their effects on real estate activity and the national economy, as well as building a clear future for this market that stimulates investors according to scientific, professional and professional principles, supporting its role in the national economy in light of the aspirations of Vision 2030.<\/p>\n\n\n\n

He stressed the special importance of the CIRC5 conference as it comes after the Kingdom's announcement of Vision 2030, in which much reliance is placed on the role of the national real estate sector in many aspects, most importantly its role in diversifying sources of income, developing infrastructure, implementing projects related to tourism and entertainment, in addition to housing projects and citizens' ownership of housing and housing projects provided by national real estate companies, in addition to providing job opportunities to help localize jobs.<\/p>\n\n\n\n

Real estate sector<\/a> Covers 11% of GDP<\/strong><\/h3>\n\n\n\n

The Chairman of the National Real Estate Committee at the Council of Chambers, Hamad Al-Shuwaier, revealed that the real estate sector accounts for 11 % of GDP, hoping that the size of the real estate contribution will increase in the future, indicating that the conference will address investment opportunities in educational buildings, the endowment sector, residential sector projects in cooperation with the Ministry of Housing, public transportation projects, one of the projects of the Public Investment Fund, and other projects.<\/p>\n\n\n\n

He said that the real estate market has succeeded during the past period in achieving a balanced growth rate as a result of radical changes among investors in modern and innovative real estate investment fields, as well as the growth of economic sectors, which enhanced the demand in the real estate sector, noting that investors in the real estate sector have many aspirations that support the growth of the sector in order to contribute to achieving the aspirations of the wise leadership in diversifying sources of income, perhaps the most important of which is the effective implementation of regulations issued by government agencies, including activating and applying regulations and procedures that support the growth of the sector, such as the real estate valuation system and regulations on banks and stimulating.<\/p>\n\n\n\n

Five Key Themes at CIRC5\u201c<\/strong><\/h3>\n\n\n\n

Five main themes have been identified that will cover the conference:<\/p>\n\n\n\n