Saudi real estate projects carried out with 910 billion riyals

Real total 2.1 trillion of real estate investments in the Kingdom of the end of 2011

As much as Chief Executive Officer, Board Member in the "support the real estate investment," Ahmed Al-Babtain, the size of real estate investments in the domestic market at 2.1 trillion rials last year, and expected to increase the size of these investments to 3.5 trillion rials during the next few years, pointing out that there more than 285 real estate projects worth 910 billion rials are being implemented in the Kingdom during the current period.
He said Babtain in a dialogue with the newspaper "the East" Arabia, "The reports indicate a need for the Kingdom to build at least 2.6 million housing units during the next phase, in order to meet the demand caused by the increase on subsequent in population density, which means building 200-250 thousand housing units per year, noting the desire of development led by the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz to provide adequate housing for all segments of society, and to provide economic stimulus and infrastructure appropriate for the construction of real estate projects, a giant keep pace with the requirements and needs of the market, which contributed to the creation of the real estate market for real estate boom substantially during the the next phase, which led to attract investors and real estate development companies a strong degree of investment in the real estate

With regard to steps to stimulate economic growth and the real estate sector, he explained Babtain that economic diversification and the diversity of economic resources that are no longer the oil alone, is the main indicator of our national economy, which has turned the kingdom to the point of an ideal investment in various fields under economic liberalization pursued by the Government of the Kingdom.
In the area of ​​real estate, the Kingdom offers promising opportunities for investors, including pumping more than $ 500 billion in real estate projects under implementation, of which $ 36 billion "135 billion riyals," foreign investment, and promoted the growth deregulation, adding that the expectations and studies suggest that the real estate sector will see annual growth rate constant and one during the next five years.

He added that the real estate market need more attention and remove some of the challenges and to find mechanisms to launch this market back to its outstanding and future, first and foremost a mechanism to license the contributions and follow-up and control and the reduction of bureaucracy in all its forms and types, as well as correct the course of real estate stocks and the way circulates through the increase transparency and the application of corporate governance in the real estate companies, and provide protection for the rights of investors in various levels, and to find a reference to resolve disputes and address issues, which will contribute to the achievement of safe investment, standardization references the official and the provision of proper planning in the field of real estate investments, in addition to the development of regulatory and legal environment, and the development of legislation that will help various segments of society and all housing seekers and investors to achieve their ends.

On the role of company support for Real Estate and launched a new identity in the market, said Al-Babtain, "The new identity came to reflect the identity of the institutional to the company and its role in the development of Saudi real estate market, to confirm its management culture and organizational excellence as a specialist working in accordance with the requirements of the New Age, is added to that new identity is derived from long experience in the housing projects and real estate developer who was keen to provide products and designs are after is not final, according to an integrated system in terms of coding and significance, in addition to the properties of color and development and innovation of method imaging of the line that promotes a culture of exclusivity typical firm support for investment real estate. "