Challenges to Doing Business in Saudi According to Rafal Real Estate

“As in any emerging market, regulations are not black and white. Here in Saudi Arabia, we have regulations but the interpretation and the implementation of these regulations represent quite a challenge for doing business here,” says Majed Al Hogail, Managing Director of Rafal Real Estate Development Co.

“Another challenge we face is human resources, particularly in a virgin industry like real estate in Saudi Arabia. Finding local experts to help the organisation move faster is one of the challenges that real estate developers face in Saudi Arabia. The market is very bullish and it is quite large. The real estate sector is lacking a leader for its organisation. The industrial sector for example has an authority or regulators that are specialised in industry. We need such a body to help grow the real estate development companies here.”