{"id":30348,"date":"2020-11-02T11:13:37","date_gmt":"2020-11-02T08:13:37","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=30348"},"modified":"2020-11-02T11:13:37","modified_gmt":"2020-11-02T08:13:37","slug":"%d8%aa%d8%b7%d9%88%d9%8a%d8%b1-%d8%b9%d9%82%d8%a7%d8%b1%d9%8a-%d9%87%d9%85%d9%88%d9%85-%d9%88%d8%aa%d8%b7%d9%84%d8%b9%d8%a7%d8%aa","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/30348\/","title":{"rendered":"Isa Al-Isa writes: Individual real estate developers\u2026 Concerns and aspirations"},"content":{"rendered":"<p class=\"wp-block-paragraph\"><strong>Real estate development<\/strong> \u2013 The private sector plays a major role in achieving economic and social development, as it is considered the main driver of economic growth in any country.\u00a0 For this reason, our wise government has placed great emphasis on the private sector, given its significant advantages that enable it to play a leading role in various economic and social fields. This has prompted economic policymakers to focus on mechanisms for its development and on creating a conducive environment for it .<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The real estate sector is one of the most important aspects of our private sector, having played a major role in its development through an active, significant, and substantial contribution,Although this has been accompanied by some drawbacks, such as unregulated practices and the poor quality of certain real estate products, recent regulations have been introduced to regulate this sector and steer it in the right direction, making it more effective and positive, thereby ensuring consumers\u2019 right to a decent home with better guarantees.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Perhaps one of the most significant factors that will have a major impact on this sector is the exemption of licensed developers from the real estate development tax (15%), unlike other individual developers, If we assume that real estate development costs account for 50% of the total cost of a residential unit, this means that a licensed developer will save 7.5% on the total cost compared to an individual developer.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And this feature <a href=\"https:\/\/amlak.net.sa\/en\/%d8%a7%d9%84%d8%a3%d8%b1%d8%a7%d8%b6%d9%8a-%d8%a7%d9%84%d8%a8%d9%8a%d8%b6%d8%a7%d8%a1-%d8%aa%d9%82%d8%b6%d9%8a-%d8%b9%d9%84%d9%89-%d8%a7%d9%84%d8%a7%d8%ad%d8%aa%d9%83%d8%a7%d8%b1\/\">Competitiveness of Licensed Developers<\/a> This poses a major challenge for individual developers, who must adapt to this decision and, like others, try to take advantage of this feature through some of the following options:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00a0The transition from individual to institutional work by forming consortia, establishing licensed real estate development companies, and conducting real estate development through them; obtaining the necessary accreditation and operating as companies rather than as individuals, In this way, developers benefit from the exemption from development tax, Furthermore, institutional operations will better protect both the developers\u2019 rights and those of consumers, thereby fulfilling the noble objective behind these regulations. This approach also enables expansion through financing from banks and specialized finance companies, as well as participation in large-scale and more sophisticated housing projects, which is not available to individual developers.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Investing in Real Estate Investment Trusts<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">\u00a0Become shareholders in <a href=\"https:\/\/www.tadawul.com.sa\/wps\/portal\/tadawul\/markets\/funds?locale=ar\">Real Estate Investment Trusts<\/a> Specialized funds that launch temporary projects to develop a specific plan or project for a specified, announced period; these funds are typically affiliated with licensed financial institutions and differ from publicly traded REITs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;Direct investment in existing real estate development companies or joining as founders in companies that are currently being established and are expected to be announced soon, where they will be a significant asset to those companies due to their experience and knowledge of the local real estate market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;We hereby extend a sincere invitation to existing real estate development companies\u2014or those currently being established\u2014to attract individual developers, draw on their technical expertise and financial resources, and enlist their assistance in managing these companies on the ground, administratively, and technically.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And God is the source of all good intentions.<\/p>","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">Minutes<\/span><\/span>Real Estate Development \u2013 The private sector plays a major role in achieving economic and social development, as it is considered the primary driver of economic growth in any country.\u00a0 For this reason, our wise government has paid close attention to the private sector, given its significant advantages that qualify it to play a leading role in various economic and social fields, which has prompted economic policymakers to \u2026 <a title=\"Isa Al-Isa writes: Individual Real Estate Developers\u2026 Concerns and Aspirations\" class=\"read-more\" href=\"https:\/\/amlak.net.sa\/en\/30348\/\" aria-label=\"Read more about Isa Al-Isa writes: Individual Real Estate Developers\u2026 Concerns and Aspirations\">Read more<\/a><\/p>","protected":false},"author":10,"featured_media":30349,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"\u062a\u0637\u0648\u064a\u0631 \u0639\u0642\u0627\u0631\u064a - \u0639\u064a\u0633\u0649 \u0627\u0644\u0639\u064a\u0633\u0649 \u064a\u0643\u062a\u0628: 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