Rapid Development of Saudi Real Estate Market
Majed Al Hogail, Managing Director of Rafal Real Estate Development Co. The government´s plan is based on the Royal decree to develop and provide 500,000 units.
imported 2024-03-17 17:43:08
Majed Al Hogail, Managing Director of Rafal Real Estate Development Co. The government´s plan is based on the Royal decree to develop and provide 500,000 units.
Dr. Bader Ibrahim Ibn Saedan, General Manager of Al Saedan Real Estate, describes housing in Saudi Arabia. He states that the country “lacks hotels.” He sees many hotels being constructed at the moment, including 5-star and 4-star hotels. The market will be saturated in about two years.
The real estate cycle lasts about 7-10 years. Dr. Bader Ibrahim Ibn Saedan, General Manager of Al Saedan Real Estate, discusses how they deal with the crises that occur in the real estate market. The family has been in the business for three generations. Al Saedan has survived a complete cycle and they know what to do to prepare for the crisis. More importantly, they have transferred that experience for the generations after to ensure continued success.
Al Saedan Real Estate is one of the leading real-estate companies in Saudi Arabia.
Ismail Jamai, Vice-President of Groupe Jamai
People have to eat, people have to wear clothes, and people have to live in a home; and I think this is the main reason why we are in these three sectors.