The foundation has been laid for a promising future for the real estate sector in the Kingdom of Saudi Arabia with the conclusion of the 7th edition of Jeddah Urban Development & Real Estate Investment Event, powered by Cityscape. The Event, which was held last Nov. 2-4 at the Jeddah Centre for Forums and Events, saw thousands of visitors from across the country walk through its doors, an indication of the real estate potential in KSA. The event brought together over 50 exhibitors who unveiled dozens of new projects from across the property spectrum, thereby successfully stimulating real estate development and investment in line with Saudi Arabia's Vision 2030. "The success of this year's event reveals the dedication of local investors, developers and real estate professionals to advance the industry in the country," said Hussein AlHarithy, Vice Chairman and Managing Director of National Exhibition, organizers of the Jeddah Urban Development & Real Estate Investment Event. "This dedication to the industry is made possible due to the steadfast demand from the country's population for attractive real estate offerings. We look forward to repeating this success next year." Exhibitors at this year's Event hailed the show as an achievement for the real estate sector in the country. "The Event delivered beyond our expectations a good flow of visitors, many of them keen investors," said Amal Merchant of Tilal Properties. Fahad Ul Haq of H&S Real Estate agreed, saying: "It is a solid platform to meet with interested investors." For Bassam Alhuthaify of Barcode Ltd, the event is "the only real estate show in the Kingdom that brings together a diverse set of companies from around the world". Coupled with a successful workshop, the event also saw the coveted Real Estate Awards Jeddah with over 70 attendees. The awards paid tribute to top local projects from developers and architects who are making a difference in the real estate sector and contributing to the country's Vision 2030 plans. Sharing the same sentiment, Ahmed Al Jarbou of Al Jarbou Real Estate, said: "This event is a connecting point that brings us and our customers together, and it cannot be valued at any price. This is where we meet interested buyers." Adding to the overall success of the exhibition, this year's one-day workshop, sponsored by Kohler, was a resounding triumph with over 200 senior real estate professionals and investors in attendance. Speakers and visitors to the workshop were eager to discuss, debate and learn about the current state and outlook of the real estate market, especially in light of the government's path to economic diversification. For Carlos Salas, Regional Director for Crystal Lagoons, who attended the workshop, there was a clear understanding of the market. Nezar Awayda, Chief Sales and Marketing Officer for Jabal Omar Development, agreed. "If you are a player in any capacity within the property development segment, I would recommend you be part of this Event," he said. – SG
