RIYADH: Riyadh International Urban Development and Real Estate Investment – Cityscape Riyadh 2010 that opens at Four Seasons Hotel on Dec. 12 will offer a large number of development opportunities for domestic and international investors. Officially endorsed by Ministry of Trade and Industry and organized by National Exhibitions Company and Cityscape, the key projects to be presented in the event include SR37.5 billion King Abdullah Financial District (KAFD) and SR15 million high-profile real estate development aimed at expansion and renovation of Riyadh Governorate. Deep Marwaha, Director of Cityscape Riyadh, said the event is poised to follow up on the huge success of the Cityscape Jeddah exhibition and conference held in June this year. The three-day exhibition will display the products and services of over 50 domestic and international real estate firms and pull the Cityscape brand's global network of around 350,000 investors and real estate professionals, he said. KAFD is a 40-tower office, residential, educational, sports, retail and cultural complex that is part of the emergence of a ‘New Riyadh.' Another high-profile real estate development aimed at reinventing the capital is the SR15 million expansion and renovation of the Riyadh Governorate. “The diverse development opportunities across the city indicate that Riyadh is on the verge of becoming a fast-paced commercial and lifestyle hub. The huge success of Cityscape Jeddah last June helped boost interest for the first-ever Riyadh edition and we expect a lot of return guests from that previous event,” said Marwaha. Around 70 percent of exhibition space has already been booked. With the participation of over 40 experts and more than 150 delegates, the conference will serve as an excellent platform networking opportunities, he added. The three-day event will feature a large scale exhibition, investor round tables and Riyadh's International Urban Development and Real Estate Investment Conference (Dec. 12 to 13), offering a comprehensive business-to-business platform for key industry players to pursue new projects and support the ‘New Riyadh' development concept, he said. The Riyadh show will meet the huge demand for a real estate platform serving the Kingdom's Central Province. Overall, commercial space in the area is expected to expand significantly in the next four to four years as the city shifts to its ‘New Riyadh' brand. Riyadh's real estate sector, on the other hand, plans to continue capitalizing on the Kingdom's status as the top Foreign Direct Investment (FDI) destination in the Middle East. Saudi FDIs were worth SR135 billion last year, placing it eighth among the world's top FDI recipients in 2009. The event's 2010 sponsors include Emaar Middle East (principal sponsor), National Commercial Bank and Working Buildings (silver sponsors).
