Itqan Capital to stage real estate forum

Itqan Capital, in cooperation with Jones Lang LaSalle, is organizing a special seminar covering the Saudi real estate market.
A select group of Itqan’s top clientele as well as businessmen, investors, and specialists in the real estate sector will attend the event.
The announcement was made by Adil Saud Dahlawi, managing director & CEO of Itqan Capital, recently indicated that the seminar aims to shed light on the various recent developments in the Saudi real estate market and its impact on the national economy.
Dahlawi said the real estate market has witnessed several major developments this year including the establishment of the Ministry of Housing, the allocation of SR 250 billion for the construction of 500,000 residential units, in addition to the expected introduction of mortgage and real estate financing regulations.
He said the new regulations might not offer immediate and comprehensive solutions to real estate market issues.
He reiterated that the major challenge facing the real estate market today is the high land prices, which in turn raised the costs of residential units and rent rates.
Dahlawi also emphasized the high growth potential in the Saudi real estate market, driven by an annual population growth rate estimated at 2.9 percent, and a population of 19.4 million Saudi citizens (as of 2011) of which 66.4 percent are estimated to be in the age group of 20-40 years by the end of 2012.