Business & Money | Sunday 23 December, 2018 2:39 am |

The International Property Show, the biggest property platform in UAE, expands its network to Jeddah, Kingdom of Saudi Arabia, for the first staging of IPS Jeddah on January 17-20, 2019 at the Jeddah Centre for Forum and Events. The global property event anticipates over 15,000 investors and 75 exhibitors from at least 15 countries.

The event will mark a significant feat for Saudi real estate market as demands for residential, office, retail, and commercial property are on the rise. The healthy outlook on the sector has been propelled by the Kingdom’s economic and social reforms, specifically, with the establishment of Real Estate Development Fund (REDF) jointly by Public Investment Fund (PIF) and the Ministry of Housing (MoH) in 2017. This move has been providing home buyers easy home financing options. Moreover, subsidized loan through the Kingdom’s stimulus package of SAR 72 billion has been easing up the financial hurdles for first time home buyers, giving the surge in the demand for residential properties. 

IPS Jeddah supports REDF objective to increase home ownership by Saudi nationals to 52% by 2020 from the current 47% level. The event’s signature feature, the Mega Property Show, would be an ideal platform for legitimate property developers to feature their projects to potential investors, and for genuine property investors to choose from a wide array of offerings on exclusive deals and special discounts. 

The first edition of IPS Jeddah also offers a unique networking opportunity for exhibitors and visitors. The four-day event will provide the most conducive environment for discussion of potential property deals and for expansion to new and wider market by regional and international exhibitors. Among the biggest exhibitors at IPS Jeddah will be Egypt, whose real estate market has been enjoying robust growth in the recent years.

Dawood Al Shezawi, head of the organizing committee of IPS Jeddah, said, “IPS Jeddah will cater to the anticipated pent up demand for housing, as the city’s population is estimated to grow 2.5% on an average over the next five years. Saudi is also diversifying its economy and is increasingly spending on infrastructure and tourism projects, elements that also drive growth in hospitality properties.”

Saudi’s increasing population is also seen to contribute to its healthier property market. “Given the nation’s increasing population coupled with rising disposable income, sustainable demand for residential properties is ensured,” Al Shezawi added.

IPS Jeddah will be held in partnership with Wafi, a Saudi government program that authorizes and regulates off-plan property sales, rent processes and transactions, and with the Dubai Land Department.