The Saudi Ministry of Investments and government companies participate in the MIPIM international real estate exhibition, held in the French city of Cannes, under the aegis of “Invest in Saudi “.
Participation in the exhibition aims to review the strategic objectives and projects of the participating parties, the competitive advantages and the size and diversity of real estate investment opportunities, as well as provide information on the Saudi real estate sector to foreign investors.
Fahd Al-Hashem, General Manager of the Real Estate Sector at the Saudi Ministry of Investment, said in an interview with Al-Arabiya that “the exhibition is the largest in the world for real estate developers, and since the Kingdom has a interesting story in the development that has occurred since 2016, we want to always be featured in the best and biggest forums. “To review our achievements and the huge amount of opportunities.”
He stressed that in the first participation “we were interested in having diversity, since the goal is not only to attract capital and developers, but to develop the value chain in the sector. in complete way “.
He added that the Kingdom has implemented several reforms affecting the real estate sector in recent years, as there has been the development of a number of services in the value chain, as well as changing the ownership and investment system of non-Saudis. in real estate and allowing investment funds to invest in Mecca and Medina.
The general manager of real estate at the Saudi Ministry of Investment continued: “We have also worked on many systems to develop programs for property owners and rental programs, as well as efforts to support developers.”
He said: “The Kingdom, through government agencies and investment weapons, has pumped huge numbers of housing units to meet the Kingdom Vision 2030 goals by increasing home ownership rate to 70%, and we have seen a huge achievement so far in this framework, and we also aspire to have 3 Saudi cities among them prime 100. A city to live in around the world.
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