The next Riyadh Urban Development and Real Estate Investment Event - Cityscape Riyadh will be held on Dec. 10-12, 2013 at the Riyadh Exhibition Center, under the patronage of Prince Khalid Bin Bandar Bin Abdulaziz. Abdullah bin Mahfouz, Chairman, National Exhibitions Company, said: "Cityscape is renowned as a brand in the field of real estate events. However, with the growing importance of the real estate market in Saudi Arabia, Cityscape Jeddah and Cityscape Riyadh have also recently been acclaimed as essential components and among the biggest names in real estate events taking place in the region." The exhibition, covering 5,000 sq. meters of space and featuring more than 50 exhibitors, is expected to attract over 5,000 visitors, while the summit and post-summit workshops will include the participation of local and regional developers, architects, designers, government authorities, key decision makers and senior executives involved in the design and construction of public and private real estate developments. The Cityscape Saudi Arabia awards ceremony designed to reward industry professionals and companies that have shown outstanding real estate development and architecture in the Kingdom will be held on Dec. 10. "Strong demographic trends are increasing the demand for housing in Saudi Arabia. According to recent studies, only 30 percent of Saudis own their own home. compared to 65.4 percent in the US and, according to global real estate firm Jones Lang LaSalle, there is a shortage of one million housing units. While affordability remains a key concern in the Kingdom, government initiatives, including a $66.65 billion development fund and an increase in publicly funded housing loans, in addition to new laws in place to help grow the local mortgage market, should combine to help boost the real estate sector in Saudi Arabia. Such issues will be key topics of discussion at Cityscape Riyadh 2013,” Bin Mahfouz noted. — SG
