Business & Money | Monday 17 October, 2016 9:42 am |

The Jeddah Urban Development & Real Estate Investment Event, powered by Cityscape, gears up to showcase game-changing projects from national and regional developers, on the back of a 25% increase from last year

 

With just under a month to go before the Jeddah Urban Development & Real Estate Investment Event opens its doors, regional and international developers are preparing to showcase prime residential, commercial, hospitality and mixed-use projects from Saudi Arabia and across the globe at this year’s Event.                                                                                          

The Event, powered by Cityscape, is hosted under the patronage of His Royal Highness Prince Misha’al bin Majed bin Abdulaziz, Governor of Jeddah, and takes place from November 2nd to 4th at the Jeddah Centre for Forums and Events, owned by the Jeddah Chamber.

With over 50 exhibitors this year, the Event has grown in size and scope witnessing a 25% increase in stand space compared to last year. The show this year offers real estate investors the opportunity to interact with developers’ game-changing projects and to get updates on existing developments in the Kingdom and the region, directly on the show floor.

One of the highlights at the 7th edition of the Event are the investment opportunities available at King Abdullah Economic City (KAEC), a megacity of the future located on the Red Sea, north of Jeddah.

At approximately 70 sq miles, KAEC will eventually transform into a metropolis slightly larger than Washington DC. It is expected to change the landscape of the city and introduce a new type of living in line with the country’s under-35 population, a figure which sits at 65%.

“Visitors and participants at the show will get an exclusive look into the dynamic opportunities across commercial, hospitality, logistics, manufacturing, shipping, residential and educational fields available from our diverse group of exhibitors,” says Mr. Hussein AlHarithy, Vice Chairman and Managing Director of National Exhibition Co., organisers of the Jeddah Urban Development & Real Estate Investment Event.

“Projects like KAEC illustrate the range of real estate opportunities available in the country, especially at a time when the Kingdom is preparing to diversify its economy away from oil-related revenues, an underlying component of its Saudi Vision 2030,” adds AlHarithy.

As part of its Vision 2030, the Kingdom intends to develop its tourism industry. The most common tourists are pilgrims; every year some 18 million Muslims from around the globe travel to Saudi Arabia to visit the holy cities of Makkah and Medina. Exhibitor Jabal Omar Development (JODC), a real estate development company focusing on the Hajj and Umrah industry, understands the need to drive this type of tourism.  

Jabal Omar, the company’s flagship project, is a mixed-use, master-planned city which will host more than 100,000 people during Hajj. Situated within walking distance from the Grand Mosque in Makkah AlMukarramah, the main hotel towers of the development will form an interconnecting bridge to the Grand Mosque. 

“As Makkah Al Mukarramah continues to welcome a growing number of visitors from around the Islamic world, we are proud to contribute to the development of the area surrounding the Grand Mosque,” says Mr. Yasser Faisal AlShrif, CEO of JODC.

Saudi Hollandi Bank, provider of financial products and services, aims to use the Event not only to promote its latest finance products, but also to demonstrate its commitment to support the Kingdom’s goals of increasing home ownership among citizens. The goal, part of Vision 2030, looks to restructure the Housing Ministry to help citizens purchase their own homes.

For exhibitor Sloanes Real Estate KSA, the Event offers a platform to showcase its project Bayat Plaza, two neighbouring towers with apartments, duplexes and penthouses situated in the heart of Jeddah. In addition to the two towers, the exhibitor will also unveil the third tower in the Bayat series, which comprises 40-storeys of hospitality and commercial space.

Showcasing projects from the UAE, Kleindienst will introduce its Floating Seahorse to a Saudi Arabian audience. The floating villa, a three-storey home with a totally submerged floor beneath the sea, will be built on the Heart of Europe on The World Islands in Dubai.

Key exhibitors participating at this year’s event include: Lifestyle Developers, Schon Properties, Danube Properties, Al Marjan Island, Kleindienst, Dar Al Tamleek, Tamimi Pre Engineered Buildings, Tilal, Select Global Development, Artar Real Estate Development, Sobha LLC, Green Valley Real Estate, Barcode Ltd, Banke International Properties, Tiger Group, Rawae Al-Umran Real Estate Development co., Real Estate Progress Pivot and many others.

For more information, or to register as a visitor please visit www.jeddahurbandevelopment.com.