Featured News

Categories: Investing

Saudi Real Estate Co. Eyeballing $1.3 Billion in Development

The CEO of Saudi Real Estate Co. (SRECO) told Bloomberg recently his firm is intent on building a housing development in Riyadh estimated to be worth $1.3 billion. According to reports from news outlets and the company, Saudi Real Estate is refocusing on middle-income buyers who can leverage a home shortage there.

Al Akaria Residences - from the brochure

Seeking governmental approval of the construction of some 7,000 homes, Saudi Real Estate will also be committed to building the connective community elements of office, hotels, shopping, and other developments as well. Dr. Fahad A.M Al-Said, CEO of Saudi Real Estate Co. Al-Akaria, addressed the Future Housing Summit last week concerning issues facing his country where the availability of housing is concerned.

Finally, to cement the idea of Saudi Real Estate's leadership where jump starting the youth of Saudi Arabia is considered  their chairman's confidence in the young community there was highlighted late last year in an interview with Arab News, and I quote describing Saudi Arabia for the coming decades:

"I can describe the Kingdom using the words — flourishing continuous development. I do have strong trust in Saudi youth. I can say that every student is more intelligent than the older student generation. Our future is for the youth, and I strongly have trust on them."

Saudi Arabia is largely a youthful country possessed of a very well educated younger set. Clearly the focus of future investment there will be attuned to not only satisfying the needs of this population, but taking advantage of the pluses excellent and youthful contributions can foster. Fahad A.M Al-Said and his company are fairly notorious in their revamped focus toward Saudi's taking advantage of global job opportunities too.

Finally, the residential property market there in Saudi Arabia creates something of a demand vacuum not only for Saudi investment, but with the potential transformation of the country's bank regulations and foreign investment allowances of late, a potential investment boom for outside investors too. A growing population and other factors made the country a big target for speculation where investments go.

The Plaza development by Al Akaria
Phil Butler

Phil Butler is a former engineer, contractor, and telecommunications professional who is editor of several influential online media outlets including part owner of Pamil Visions with wife Mihaela. Phil began his digital ramblings via several of the world’s most noted tech blogs, at the advent of blogging as a form of journalistic license. Phil is currently top interviewer, and journalist at Realty Biz News.

Recent Posts

The Benefits of Small-Sized Riding Mowers

If you're looking for a compact riding lawn mower that is easy to use and…

1 hour ago

Buying or Selling Your Home? Understand the Term “CMA”

If you’re new to the world of real estate, the term “CMA” might be a…

5 hours ago

How to Manage an Online Audience with Advertising Banner Ads

Digital marketing is all about using content to drive traffic to your website. It's a…

5 hours ago

10 Ways to Transform Your Patio Into an Outdoor Entertaining Oasis

Summer is in full swing, which means it's patio season. Like most homeowners, you probably…

23 hours ago

How to Use Your Real Estate Newsletter to Gain More Clients

With over 2 million realtors active in the US, you need to do what you can to…

1 day ago

Pros and Cons of Paying All Cash For Your Home

Certainly, not everyone can pay all cash for a home. But if you have the…

1 day ago