The scientific program accompanying restatex 2015 has launched

The scientific program accompanying restatex 2015 has launched
The general window for facilitating development licenses will launch soon   
 
The activities of the scientific program accompanying restatex 2015 launched on Tuesday, 27 October 2015.
Abdulrahman bin Saleh Al-Otaishan, Asharqia chamber chairman launched the scientific program accompanying restatex. He spoke about the shift of real estate into a high end industry, that reflects the sophistication of everyone involved in this developing sector.  The real estate sector had become an effective sector, given the high quality of its products. He added that the real-estate sector is now a way to measure the economy in general. Following the Saudi market during the last hijri year we would noticed that the real estate deals that Saudi has witnessed amount to 366.8 billion riyal, compared to 437.6 billion last year.


He added that this exhibit is being held in a historic moment for the real-estate industry in Saudi. Many regulations and rules are being updated which is a clear indication of its impact on the economy. It started with the funding and mortgaging laws, and turning the real estate fund to a specialized bank, along with the huge funding that the government has allocated to facilitate the process of owning houses to Saudi citizens.


During the first workshop, ali aljaber, the studies and planning manager in the housing ministry, revealed that the general window for facilitating development licenses will launch soon. It will serve all the development companies and connect them to all the needed ministries.  This new service will help ease the procedures of many of the housing plans, such as development licenses. He asserted that this window will be utilizing the electronic technologies to accelerate the process and eliminate the traditional slow ways. Aljaber asserted during a workshop titled “ the housing ministry and real-estate development companies partnership.”, that the ministry has a strategy to enforce some sort of a partnership with the private sector to provide housing units for citizens. Additionally, he added that the ministry welcomes all the suggestions that the real-estate companies are providing, in order to create the best environment for the companies in the market.
For his part, Dr. share alshali, the executive manager in the eastern region branch of the ministry of housing said that the ministry is working on strengthening its partnership with the private sector in order to utilize the private sector plots to build multiple stories buildings. Furthermore, he revealed that the ministry has contacted Jubail municipality to get some land plots, but the answer was there are not any available governmental plots in the city.  He mentioned that the housing gap in Alhassa would be resolved within the next five years, and added that Alhassa amanh will allocate a 130 million square meter in various stages, which will help solve the gap and provide unites that cover the current demand. In addition, he mentioned the current issue in Qatif, which is the shortage in housing units. According to him, multiple story buildings can resolve this issue. Moreover, A huge piece of land in Tarout land will be given to the ministry, which a great asset. Moreover, many offers from the private sector are being studied now in order to pick the best fit before making a final decision.
Eng. Fahad Alharthi the eastern region real-estate projects development director in the housing ministry said that the partnership between the ministry of housing and the private sector is amongst the strategic programs that the ministry has been working on to provide more housing units for Saudis.  He added that the ministry is considering limiting the direct executions projects to relay more on the private sector.


For his part, Rden alDarwishl, the buisessman and real estate developer asserted that the ministry’s efforts are significant. Amongst these efforts is providing a wide database, which is the results of a four years study. That study indicates that the number of people eligible for housing is 740 thousand. He added that 90% of the eligible candidates are families of 7 members or less, which helped the ministry design housing units accordingly. And he asserted that the contractors did not face any issues with the funding from national banks, given that banks trust the ministry’s ability to pay off the loans within the agreed upon time frame.