In an interview with “Al Arabiya” on the sidelines of the “Cityscape Global” exhibition, Colliers International CEO Imad Damra predicted that there will be investment opportunities in the residential sector in excess of $ 100 billion in the Saudi real estate market in the next three years.
Damra stressed the focus of global real estate portfolios on the residential sector, and this is what investment opportunities offer in the Kingdom, explaining that investment portfolios are developing. in more mature way, between demographic changes and government decisions, which improve the quality of the real estate product, especially residential.
He believes that investment portfolios support the real estate market And it helps to organize it, in addition to the growing demand from international companies Which will move its regional headquarters to the Kingdom.
He added that the replacement of new units supports the real estate market in addition to the demand for office sectors or the changing needs of the residential sector after the pandemic, as well as deepening the experience of Vision 2030 and the projects that have arisen from it at the real estate level.
He described major vision projects as stimulating the private and non-private real estate sector in competition with it, and therefore Saudi Arabia has become a breeding ground for foreign investment in future, and vision projects and the Public Investment Fund play a key role in raising standard market.
The Cityscape Global Exhibition started last Sunday in Dubai and will run until 11 November at the Dubai Exhibition Center at the Expo 2020 Dubai site, where the exhibition and summit held on the sidelines outline the characteristics of the global real estate sector.
The exhibition hosts many of the leading real estate developers and provides a strategic platform for local and international real estate developers to showcase local, regional and international real estate market projects to an audience of investors, active buyers and participants, in how much is the most influential real estate event in the world.
Read More About: Business News