The real state sector in the Kingdom is regarded as one of the important economic sectors

Hamad A. Al Showair, Managing Director of Hamad Al-Showair Group talks about the real estate sector in Saudi Arabia.

The real state sector in the Kingdom is regarded as one of the important economic sectors. In fact, the real estate sector is regarded one of the key supporting factors of development, that’s why the Kingdom has paid much attention to this sector in all its development plans. The state has set out some systems to motivate the sector, one of these systems is the real estate finance system that is considered as an essential support. There is also the system of “Allegiance map,” which is regarded as one of the finance systems, lease system and the system of the so called “implementation jurisdiction” that accelerates solving the problems of real estate sector.

This sector will be a promising and prosperous sector, particularly in the construction field and development of housing schemes in urban boundary, so I think all this support and turn the sector into an industry.