{"id":67026,"date":"2024-07-08T12:18:22","date_gmt":"2024-07-08T09:18:22","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=67026"},"modified":"2025-11-26T03:07:44","modified_gmt":"2025-11-26T03:07:44","slug":"%d9%85%d9%84%d8%aa%d9%82%d9%89-%d8%a7%d9%84%d8%a5%d8%b9%d9%84%d8%a7%d9%85-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d9%8a-%d8%aa%d8%b9%d8%b2%d8%b2-%d8%a7%d9%84%d8%b4%d9%81%d8%a7%d9%81%d9%8a%d8%a9-%d9%88","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/67026\/","title":{"rendered":"Real Estate Media Forum: Data analysis is an important factor in decision-making"},"content":{"rendered":"

The Saudi capital, Riyadh, hosted the \u201cReal Estate Media Forum<\/a><\/strong>\u201dorganized by Public Authority for Real Estate<\/a><\/strong> Under its auspices, with the aim of promoting integration between the real estate and media sectors and raising awareness of the importance of regulating the real estate market and its role in achieving sustainable development.<\/p>\n

The one-day forum was attended by a large number of senior officials from the General Real Estate Authority, real estate media experts, and a select group of journalists and writers specializing in real estate, as well as representatives from the public and private sectors.<\/p>\n

Launch of the General Real Estate Authority\u2019s New Visual Identity<\/strong><\/h4>\n

At the start of the forum, the General Real Estate Authority unveiled its new visual identity, which reflects its commitment to fulfilling its mission of regulating and developing Saudi Arabia's real estate market<\/a><\/strong> and to enhance its efficiency and effectiveness.<\/p>\n

His Excellency Mr. Taysir Al-Mufarraj<\/strong>In his opening remarks, the spokesperson for the General Real Estate Authority emphasized the importance of the media\u2019s role in highlighting the Authority\u2019s efforts and strategic plans aimed at regulating the real estate market and achieving stability in it, noting that the Authority\u2019s roadmap is based on four fundamental pillars: governance, sustainability, market oversight and efficiency, and serving partners.<\/p>\n

Engineer Abdullah bin Saud Al-Hammad<\/strong>\u2026 the CEO of the General Real Estate Authority noted that the media and the real estate sector go hand in hand on the journey toward realizing future prospects, highlighting the media\u2019s role in documenting and showcasing the achievements, stories, and efforts of the Saudi people.<\/p>\n

Al-Hammad emphasized that the media industry is a driving force and a direct influencer of the world\u2019s economies, and that real estate media is a specialized form of economic media aimed at regulating and governing the sector and highlighting investment opportunities, sending a clear message that the Saudi real estate sector is well-regulated and attractive.<\/p>\n

Session 1: The Role of the Media in the Real Estate Industry<\/strong><\/span><\/h4>\n

During the first session, Abdulwahab Al-Fayez, former editor-in-chief of Al-Iktisadiya newspaper, discussed the impact of the media on the development and shaping of the real estate market. He explained that the General Real Estate Authority has helped boost credibility in the sector and increase transparency, noting the importance of a professional media presence that enhances the production of media content.<\/p>\n

For his part, Khalid Al-Rabish, editor-in-chief of Al-Riyadh newspaper, emphasized the need to strengthen community partnerships to change stereotypes about the real estate industry and improve the quality of the sector.<\/p>\n

Meanwhile, Mutlaq Al-Baqmi, editor-in-chief of *Mal* newspaper, noted that the real estate sector\u2019s decline in the past was due to developers\u2019 reluctance to appear in the media, emphasizing that the current alliance between real estate professionals and the media has begun to restore confidence in the sector.<\/p>\n

Mohammed Al-Bishi, editor-in-chief of Al-Iktisadiya newspaper, explained that real estate media is linked to key economic sectors, emphasizing that transparency and the availability of information help curb rumors and improve the quality of media content in the sector.<\/p>\n

Session 2: Real Estate Consulting and Analysis in the Media<\/strong><\/span><\/h4>\n

During the second session, Saud Al-Suleimani spoke about the importance of data in real estate decision-making, noting the role of real estate agents in verifying sources and using data correctly to provide accurate information.<\/p>\n

Abeer Hamdan provided an example of the importance of accurate data collection, noting that the data helped her provide effective advice to an employee regarding the termination of a financing contract, underscoring the role of data in delivering practical and useful solutions to customers.<\/p>\n

Real Estate Data Analysis: The Importance of Accuracy in Decision-Making<\/strong><\/span><\/h4>\n

Mr. Khalid Al-Mubayyad spoke about the importance of analyzing real estate data, citing an incident that occurred several years ago when the Ministry of Housing, through its minister, announced the need to build more than 1.5 million housing units to meet demand from low-income households, as part of the ministry\u2019s future plan. Six months later, the Statistics Authority announced that there were a staggering 1.5 million vacant housing units in the Kingdom, which surprised and drew criticism from some observers of the real estate market.<\/p>\n

This discrepancy in information led economists to question the ministry\u2019s capabilities; some even accused real estate developers of using these vacant housing units as part of a monopolistic scheme to drive up prices. This is where the importance of data analysis came to the fore, as it revealed that 75% of those vacant units were seasonal units in Mecca and Medina, designated for seasonal accommodation during the Hajj and Umrah, and not suitable for permanent residence. Another portion of the vacant units was located in villages whose residents had temporarily left to work in cities.<\/p>\n

The analysis showed that the Statistics Authority representative recorded these units as \u201dvacant\u201d without documenting the type and nature of the vacancy. Thus, the data analysis helped clarify the confusion resulting from conflicting information provided by official sources and demonstrated that without specialists to analyze it, it is impossible to formulate sound recommendations.<\/p>\n

Regarding the pricing mechanism for real estate products, Al-Mubayyad noted that pricing is typically based on two fundamental factors: the unit cost plus the developer\u2019s profit margin, and the comparable market price for the same unit. However, some brokers tend to set prices based on the owners\u2019 wishes without comparing the listing to similar offers on the market, which leads to the listing price being adjusted later to align with market conditions.<\/p>\n

Ahmed Al-Shahil emphasized that the media\u2019s role is to present data, while real estate professionals analyze it, noting the importance of open and widely available data in promoting transparency and clarity in the real estate market.<\/p>\n

Meanwhile\u00a0<\/strong>Bandar Al-Ma'ariek concluded the session by emphasizing the evolution of the real estate market from a speculative market to one based on real estate development and competitively designed products. He noted the importance of real estate data available since 1430, which helps all professionals in the real estate sector make informed decisions.<\/p>\n

At the conclusion of its session, the Real Estate Media Forum emphasized the importance of cooperation between the media and the real estate sector to enhance transparency and governance in the sector and achieve sustainable growth and inclusive economic development.<\/p>\n

\"\"<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Reading time: <\/span> 3<\/span> Minutes<\/span><\/span>The Saudi capital, Riyadh, hosted the \u201cReal Estate Media Forum,\u201d organized under the auspices of the General Real Estate Authority, with the aim of strengthening integration between the real estate and media sectors and raising awareness of the importance of regulating the real estate market and its role in achieving sustainable development. The one-day forum was attended by a large number of senior officials from the General Real Estate Authority, real estate media experts, and a select group of \u2026 Read 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