{"id":3093,"date":"2015-03-04T11:20:49","date_gmt":"2015-03-04T08:20:49","guid":{"rendered":"http:\/\/www.amlak.net.sa\/?p=3093"},"modified":"2015-03-04T11:20:49","modified_gmt":"2015-03-04T08:20:49","slug":"%d9%85%d8%ad%d8%a7%d9%81%d8%b8-%d8%a7%d9%84%d8%a3%d8%ad%d8%b3%d8%a7%d8%a1-%d9%8a%d8%b4%d8%b1%d9%81-%d9%85%d9%84%d8%aa%d9%82%d9%89-%d8%a7%d9%84%d8%a3%d9%86%d8%b8%d9%85%d8%a9-%d8%a7%d9%84%d8%b9","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/3093\/","title":{"rendered":"Al-Ahsa governor honors \u201cReal Estate Systems Forum\u201d and calls for an independent supreme body for real estate"},"content":{"rendered":"

\u00a0<\/strong>His Highness Prince Badr bin Mohammed bin Jalawi Al Saud, Governor of Al-Ahsa, presided over the \u201cReal Estate Regulations Forum\u201d held yesterday morning, Tuesday, at the InterContinental Al-Ahsa Hotel. The event was organized by the Al-Ahsa Chamber of Commerce and Industry, represented by its Real Estate Committee and the Bar Association.<\/strong><\/p>\n

Claim <\/strong>An Independent Higher Authority for Real Estate<\/strong><\/span><\/p>\n

The forum opened with a recitation from the Holy Quran, followed by a speech by Saleh Al-Afaleq, Chairman of the Board of Directors of the Al-Ahsa Chamber of Commerce and Industry, in which he welcomed His Highness Prince Badr bin Mohammed bin Jalawi Al Saud, He noted the Chamber\u2019s intention to organize the forum annually, as the real estate community eagerly anticipates its launch with great interest due to its role as a platform where real estate professionals and stakeholders can discuss their issues and concerns. Al-Afaleq explained that the forum will focus on several key and important themes and will discuss the challenges posed by the development of the real estate market in the Kingdom and the expected changes following the approval of real estate regulations, including the provision of qualified national personnel for the sector and a focus on training and qualification in all related professions.<\/strong><\/p>\n

Al-Afaleq revealed the most important demand \u00a0<\/strong>By establishing an independent supreme real estate authority that serves as a consistent point of reference for the sector\u2019s operations, working to develop and monitor the sector\u2019s operating systems in line with the needs of the real estate market.<\/strong><\/p>\n

\u00a0<\/strong>The real estate market is valued at 1.3 trillion riyals <\/strong><\/span><\/p>\n

Engineer Khalid bin Saud Al-Saleh, Vice President of the Al-Ahsa Chamber of Commerce and Industry and Chairman of the Real Estate Committee, then delivered a speech in which he emphasized the strength of the real estate market as a major draw for investors, as the total size of the real estate market in the Kingdom has exceeded approximately 1.3 trillion riyals at present, making it the largest real estate market in the Middle East. The market is expected to reach 1.5 trillion riyals over the next few years, particularly given the strong demand from both consumers and investors, who are seeking a market that offers significant returns and high levels of capital growth.<\/strong><\/p>\n

Al-Saleh added: \"This is underscored by the continued recovery of the Kingdom's real estate market amid an economic boom that reaffirms Saudi Arabia's development trajectory and its financial stability,\" <\/strong><\/p>\n

Real estate investments require $640 billion <\/strong><\/p>\n

Al-Saleh noted that the value of investment and real estate portfolios in the Kingdom is estimated at approximately 50 billion riyals, and, God willing, the real estate market is expected to witness unprecedented activity in terms of investment volume, as the Kingdom\u2019s need for real estate investments has been estimated at $640 billion.<\/strong>.<\/strong><\/p>\n

More than 25 regulations governing the real estate market<\/strong><\/span><\/p>\n

In his remarks, Dr. Youssef bin Abdul-Latif Al-Jabr, Chairman of the Chamber\u2019s Lawyers Committee, emphasized that the state is committed to regulations and laws, including those pertaining to real estate, noting a package of real estate regulations that various ministries helped draft and which have taken on an influential role in regulating life in the Kingdom. Al-Jabr pointed out that there are more than 25 regulations reflecting the government\u2019s interest in regulating the real estate market<\/strong>.<\/strong><\/p>\n

At the end of the ceremony, a documentary was screened on the development of urban and real estate growth across the Kingdom in general and in Al-Ahsa in particular. Afterward, Prince Badr bin Jalawi presented plaques to the sponsors and participants of the forum, and His Highness then received a commemorative gift on this occasion from Chamber President Saleh Al-Afaleq.<\/strong>.<\/strong><\/p>","protected":false},"excerpt":{"rendered":"

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