JEDDAH, 1 March 2004 - A conference of real estate investors was held in Riyadh yesterday discussing new challenges to the sector as a result of population growth. Riyadh Mayor Dr. Abdul Aziz Al-Muqrin, who opened the event, emphasized the need to develop the capital's old districts. "The Riyadh Municipality will soon float a number of new recreational and tourism projects for private investment," the mayor said. He said the population of Riyadh, which has an area of 2,000 square kilometers, was estimated at nearly 4.5 million. The Real Estate Committee at the Riyadh Chamber of Commerce and Industry has taken the initiative to establish a company to finance real estate projects and set up a databank of 1,400 real estate offices.