A visibly impressed governor remarked that so many real estate projects would certainly change the skyline of the city and its surroundings in due course.
The governor toured the exhibition with other dignitaries after he opened it and discussed the various local developments with developers and service providers.
With nearly 100 exhibitors, comprising local and regional real estate-driven companies, a large-scale conference, and the Cityscape Awards for Real Estate in Saudi Arabia that was held later in the night, the three-day event offers great business networking opportunities.
The Ministry of Commerce and Industry, and the Jeddah Chamber of Commerce and Industry are supporting the event.
More than 40 CEO-level speakers are listed for discussion on key industry issues and trends at the annual Saudi Arabia Real Estate Investment and Development Conference.
More than 200 senior-level delegates are taking part in 12 special panel sessions during the event.
The Cityscape Awards for Real Estate in Saudi Arabia was held in the night to recognize the highest achievements in the Saudi property sector and reward those companies that have excelled within their field.
“The outlook for Jeddah’s real estate sector is promising,” said Fahad Mohammed Ali Al-Mutawa, chief executive officer of Ewaan Global Residential Company, which is promoting the SR2 billion Alfareeda project of 2,088 stand-alone villas, north of Jeddah. Prices of the villas range from SR868,000 to SR1.2 million depending on the size of the villa and its location.
“We are targeting people in the middle income category,” he told Arab News.
Deep Marwaha, director of Cityscape Jeddah, said: “There is a very positive outlook for Saudi real estate this year given the country’s strong economy, growing demand for residential housing, and huge government funding for key infrastructure developments.”
He added: “What is being appreciated is the gathering of all property development and investment opportunities across the country under one roof, within a city that is being re-developed to maintain its status as a commercial and cultural hub, to maximize on the country’s resilient real estate market.”
The inaugural show in 2009 welcomed over 80 exhibiting companies from 40 countries and received more than 8,900 international and regional visitors.
This was followed by Cityscape 2010, which complemented a 20-year re-development program covering the central and historic districts of Jeddah.
