24/01/2017
Chairman of Aharqia Chamber Abdulrahman bin Saleh Al Ataishan welcomed the
issuance of the decision of establishing the Public Committee
for the real state property, stressing that such a step will control the real estate sector and
increase its contribution to the gross
production, in accordance with the vision of the Kingdom of 2030 aimed at
diversifying the sources of income without relying on oil as the main source of
the national income, stressing the extent of magnitude of the Saudi real estate market, especially in
terms of the abundance of liquidity and high consumption rates, which is
reflected on the role that could be played by this market to push the wheel of progress
forward and creating more employment opportunities among the national work
force, pointing that the real estate sector is characterized by its ability to
move the various other economic activities, noting that it was in an urgent
need to create such a regulatory system, which can be attributed to all the
real estate figures and developers, and organizes the real estate contributions and
facilitate the procedures.
Al Ataishan explained that the approval of the real estate property as a step forward in the
reformulating of the real estate
environment in the Kingdom, which will enhance the investment trust in the sector and observing its indicators up
and down to achieve stability and balance, as well as it will end the problem
of multiplicity of observing agencies and improving the powers between the
ministries and many of the other government agencies, noting how important it
is to have a direct agency that is responsible
of the sector and its issues and various subjects, which enhances the flow of the local and foreign investments in the real
estate sector in the Kingdom, and raises the price and quality of the real
estate nongovernmental institutions and prepare the real estate environment making it more
accurate and more organized.
