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Eye of Riyadh
Business & Money | Tuesday 21 May, 2024 11:16 am |

SEREDO 2024 exhibition concludes in Jeddah with many agreements signed

The Saudi Expo Real Estate Development and Ownership (SEREDO 2024) at the Jeddah Center for Forums and Events, concluded its activities on May 17.


Held under the auspices of the Ministry of Municipal Rural Affairs and Housing, the exhibition witnessed many agreement signed, investment opportunities with the participation of over 55 local and international, and a lineup of 20 speakers.


The 2nd edition witnessed the participation of a number of major real estate development companies, banks and financial institutions which reviewed the latest housing projects and financing offers for citizens, which contribute to the development and sustainability of the real estate sector, and increase the various housing and financing solutions to contribute to achieving the goals of the housing program - one of the Vision 2030 programs - by reaching the target of 70% home ownership.


The exhibition's activities shed light on entrepreneurship and innovation in the real estate market, real estate funds, and the arts of negotiation for real estate brokers, with the participation of an elite group of officials, speakers, and specialists in the sector.


During the exhibition,  the official spokesman for the General Real Estate Authority, Tayseer bin Muhammad Al-Mufarrej, confirmed on the Authority’s role in supervising the real estate market through oversight operations and electronic scanning of violations in the real estate market through 4 main paths of market supervision; The first path is the main campaigns in which the Authority’s teams monitor real estate offices and companies until compliance with the real estate brokerage system is ensured.


While the second track relates to the General Real Estate Authority cooperating with the Ministry of Human Resources and Social Development, the Ministry of Interior, and the competent authorities in joint oversight campaigns on a number of violations, such as nationalization violations, for example.


 He added that the third path is the electronic scanning path for all real estate platforms and all existing electronic channels, while the fourth path is the communications path, where the Authority receives a number of reports and they are processed as the main path for oversight and inspection in controlling the real estate market.


The working sessions presented by an elite group of specialists in real estate development covered the analysis of recent trends in the market, the world of geospatial data and its impact on building new horizons in real estate, and methods and ways of professionalizing real estate auctions. 


The exhibition is considered as a platform that brings together major real estate developers and an opportunity for companies to showcase their real estate products to specialists and those interested in the sector and to establish more partnerships.


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