The first edition of the Saudi Real Estate Development and Ownership Exhibition 2023, the leading real estate event in the Kingdom, opened on May 28, welcoming more than 60 international and regional developers.
The event, spanning 10,000 square meters of exhibition space, was officially inaugurated by Saad Al-Otaibi, member of the board at Jeddah Chamber.
Taking place until May 31 at the Jeddah Center for Forums and Events, the exhibition is Saudi Arabia’s largest and most influential property investment showcase, expecting to attract more than 15,000 visitors with an interest in purchasing or promoting real estate.
A highlight this year includes dialogue sessions and workshops to review opportunities and modern methods in real estate development, in addition to a number of specialized training courses. The event features the participation of competent authorities and real estate developers and financing agencies, who will review the opportunities and modern methods in real estate development.
The Saudi Exhibition for Real Estate Development and Ownership, or SEREDO, is considered a major platform to develop and upgrade the Saudi real estate market, as it brings together the agencies that serve the real estate sector and its pioneers under one roof, contributing to the exchange of experiences, dissemination of knowledge and raising awareness among visitors of the exhibition about the importance of real estate investment and real estate products, in addition to providing successful marketing solutions to meet the demand.
Abdulrahman Al-Zahrani, general manager of Aalyalshan Company, the organizer of the exhibition, said the goal is to present an effective real estate exhibition that contributes to the development and advancement of the Saudi real estate market.
Al-Zahrani said that holding such specialized real estate exhibitions is in tune with the aspirations to upgrade the sector and diversify economic resources to increase the contribution of the non-oil sectors to the GDP.
He also pointed out the positive results being achieved in the real estate sector, which are in line with the positive indicators in the economic plan.
Al-Zahrani noted the government’s measures to attract investments in the real estate sector, implement Saudi Vision 2030 and achieve the sustainable development goals.
It is expected that the volume of real estate financing in the coming period will reach more than SR100 billion ($26.6 billion). This will reflect on real estate demand, market stability and growth, in addition to the facilities and infrastructure provided by the government that encourage real estate investment and require expertise, planning and analysis.
Amidst the rise in real estate market indicators in Saudi Arabia, studies show that the Kingdom needs more than 3 million housing units until 2040.