{"id":24315,"date":"2019-03-06T12:04:38","date_gmt":"2019-03-06T09:04:38","guid":{"rendered":"https:\/\/www.amlak.net.sa\/home\/?p=24315"},"modified":"2019-03-06T12:04:38","modified_gmt":"2019-03-06T09:04:38","slug":"%d8%a7%d9%84%d9%82%d8%b7%d8%a7%d8%b9-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d9%8a-%d9%81%d9%8a-%d8%a7%d9%84%d8%b3%d8%b9%d9%88%d8%af%d9%8a%d8%a9","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/24315\/","title":{"rendered":"Amlak newspaper is a specialized sponsor SIRC5 real estate conference kicks off on Wednesday and discusses the Ministry of Justice's reforms in property registration services, real estate evacuation, systems and information and their importance in stimulating the real estate market"},"content":{"rendered":"

The fifth edition of \u2026 kicked off this Wednesday morning Saudi International Real Estate Conference \u201cSIRC5\u201d<\/a> Organized by the National Real Estate Committee of the Council of Saudi Chambers at the InterContinental Hotel in the capital, Riyadh, with the participation of the Ministry of Housing, the Ministry of Justice, and the International Union of Arab Real Estate, During its first panel discussion, a workshop was launched to address the Ministry of Justice\u2019s most significant reforms in property registration and title clearance services. This edition is titled \u201cThe Role of the Real Estate Sector in Maximizing Gross Domestic Product.\u201d.<\/p>\n\n\n\n

The two-day conference is held under the patronage of Housing Minister Majed Al-Hogail and features broad participation from government and private-sector entities related to the sector, as well as a select group of local and regional speakers. The conference will bring together real estate companies, mortgage lenders, and industry stakeholders. The conference includes a number of workshops addressing the Ministry of Justice\u2019s key reforms in property registration and title clearance services. A separate workshop has been dedicated to the impact of construction technology on the real estate sector, and another to 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\u201cCirque 5\u2033<\/a> It 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 foresee 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 foundations, 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 covers 11% of GDP<\/strong><\/h3>\n\n\n\n

Hamad Al-Shuwaier, Chairman of the National Real Estate Committee at the Council of Chambers, revealed that the real estate sector accounts for 11 % of GDP, expressing his hope that the sector\u2019s contribution will increase in the future, noting that the conference will address investment opportunities in educational facilities, the endowment sector, and residential projects in collaboration with the Ministry of Housing, as well as public transportation projects\u2014one of the Public Investment Fund\u2019s initiatives\u2014and other projects. He said that the real estate market has recently succeeded in achieving balanced growth as a result of radical shifts among investors toward modern and innovative real estate investment areas, as well as growth in economic sectors, which has bolstered demand in the real estate sector, He added that investors in the real estate sector have many aspirations that support the sector\u2019s growth, thereby contributing to the realization of the wise leadership\u2019s goals of diversifying sources of income. Perhaps the most important of these is the effective implementation of regulations issued by government agencies, including the activation and enforcement of regulationsand procedures that support the sector\u2019s growth, such as the real estate valuation system, banking regulations, incentives for real estate companies, and financing facilities.<\/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