April 23, 2013:- Kingdom of Saudi Arabia has been witnessing a remarkable growth in real estate projects that have been launched to keep pace with soaring demand. Housing is a particularly active segment, with 13 percent growth expected in demand for residential units to reach 1.5 million by 2015. Over the past few years, around 50 new real estate developers have been licensed in the Kingdom to address needs of the construction pipeline currently estimated to be worth SAR 2.35 trillion, with the residential, education, healthcare and industrial sectors as focal areas.
The upcoming Riyadh Exhibition for Real Estate and Architecture Development (Restatex 2013) is being eagerly awaited by local, regional and global property players and investors who seek a clearer perspective of the Saudi real estate landscape and its underlying opportunities. The 16th edition of the largest annual real estate exhibition and forum in the Kingdom will take place from April 28 to May 1, 2013 at the Riyadh International Convention Centre.
Injaz Development Co., a leading developer in KSA's real estate space and a Golden Sponsor of Restatex 2013, will highlight some of the country's strategic property segments as well as key projects such as its Al Gamra and Al Marina developments. Al Gamra is an integrated development project that offers ready-to-occupy plots for residential and commercial buildings and malls with a 2.6 million sqm complex at the heart of the “New Riyadh.” It is specifically designed to complement the growing investment and housing needs of Northern Riyadh. Al Marina, on the other hand, is a 3.3 million sqm development on the Al-Khobar-Dammam costal corridor which will emerge as a major waterfront landmark in the Eastern Province and is touted as one of the country's most sophisticated multi-use real estate projects.
“While there is no doubt that KSA represents one of the most vibrant property markets in the Arab region, interested developers and investors need to have solid information on available opportunities and how to go about securing them. As the Kingdom's premier real estate event, Restatex connects the right stakeholders with the right projects to ensure mutual and robust growth. Injaz considers Restatex an ideal platform to share and acquire expertise and best practices while introducing our own projects to a broader regional and global audience. It is also an exciting channel to strengthen ties and form partnerships with market players,” said Omar Al-Kadi, CEO and Managing Director, Injaz Development Co.