imported 2024-03-17 17:43:08
Dr. Bader Ibrahim Ibn Saedan, General Manager of Al Saedan Real Estate, discusses land issues in the country. The government in Saudi Arabia, with the authorization from the King, gives land to the people or to the government for public projects. Transferring land is a freehold transfer of ownership. GCC citizens can buy in Saudi Arabia with regulations, except for Mecca and Medina, which can only be sold to Saudi Arabians.
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.
“SECON is owned 50% by the Saudi government and 50% by the Egyptian government. It is and will continue to be a very good example of cooperation between these two governments and of cooperation between two Arab countries. The continuous support and help from Saudi Arabia to Egypt has been fantastic,” said Eng. Darwish Ahmed Hassanin, CEO of SECON.
“Both our real estate and our tourism investments are very important for us. Egypt is an excellent location for both areas of investment.”
The main capital of SECON was recently increased by 243 million US dollars and an agreement was signed between the representatives of the two governments in the presence of the Egyptian Prime Minister Eng. Ibrahim Mahlab.
“The Saudi Egyptian Construction Company was established in 1975 by the Saudi and the Egyptian governments. It is split equally by both parties. The company was established for real estate investment in Egypt. Since 1975, we have been making excellent investments and we have been producing different kinds of apartments with the required standards for Egyptians and for Arabs,” explains Engineer Darwish Ahmed Hassanin.
The Saudi Arabia’s cabinet authorized the Capital Market Authority to allow foreign investors to buy and sell stocks on the Saudi stock market.
Advanced Electronics Company (AEC) was one of the companies created under the auspices of the Saudi Economic Offset Program, which originally started in the mid-1980s. The company focused on critical technologies and dedicated itself to defence electronics, later on spreading into other areas such as ICT and industry (power and energy).
Dr. Ghassan Al-Shibl, President and CEO of Advanced Electronics Company (AEC), a leading manufacturing company operating in military, telecom and industrial sectors, stresses the importance of knowledge economy for Saudi Arabia.
