Cityscape Jeddah continues to grow amid oil price fluctuations

Cityscape Jeddah 2015 comes at a key moment in time for the Kingdom’s real estate development sector

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More than 50 of the GCC’s leading real estate developers and brokers will be showcasing their projects at the sixth Jeddah Urban Development and Real Estate Investment Event - Cityscape Jeddah on April 5-7, 2015 to be held at the Jeddah Centre for Forums and Events.

Cityscape Jeddah 2015 comes at a key moment in time for the Kingdom’s real estate development sector where all eyes are on the continuous fluctuation of oil prices and its impact on the real estate sector. Also, earlier this month, as part of a full reform package, a royal decree was issued by the Custodian of the Two Holy Mosques King Salman allocating SR20 billion for electricity and water services. The move signals the Saudi government’s intent to solve the challenges facing the real estate industry. The new funds will be used to provide the necessary infrastructure for government lands allocated for housing projects.

Commenting on the continuous success of Cityscape Jeddah, Dr. Abdullah bin Mahfouz, Chairman, National Exhibitions Company, organizers of Cityscape, said: “For the 6th year running we look forward to welcoming real estate developers from Saudi Arabia and across the region. They recognize Cityscape Jeddah is the prime location to showcase their flagship projects, as well as the perfect platform to announce the launch of their new projects.

“With many of the participants returning year after year it is evident that Cityscape Jeddah has become an unmissable event for the GCC’s real estate industry. This year we expect over 50 exhibitors who will be displaying to over 10,000 visitors including investors and real estate professionals.”

Among the companies exhibiting are Sumou Holding Company, Ewaan Global Residential Company, Dubai-based Sobha Hartland, IQI Group, Benfaqeeh Real Estate Investments from Bahrain, LS Company, Sabban Property Investments, and Lifestyle Developers.

Real estate developers make use of Cityscape Jeddah to showcase their latest projects and connect with both potential clients and industry decision makers. Ewaan Global Residential Company will exhibit its hugely successful Alfareeda residential real estate project, and its adjacent Almayaar project that is designed to offer alternative affordable residential apartments for families looking for a community lifestyle living experience. In addition, the company is showcasing its new project in Riyadh which answers the increased demand for houses in the Saudi capital.

Emphasizing the importance of Cityscape Jeddah, Mr. Riyadh Al-Thagafi, CEO of Ewaan Global Residential Co. said: “As a founding sponsor of Cityscape Jeddah we keenly look forward to this event each year as the perfect platform to showcase our projects, while giving our peers the benefit of our extensive and in-depth experience in developing residential communities that meet the requirements of the modern Saudi families and exceed its expectations.”

Sumou Holding Co. will be showcasing Dhahiat Sumou project which is the outcome of a unique vision of understanding the expectations and needs of the growing population in the western region and Makkah in particular adhering firmly not only to allocate housing units, but to creating a healthy and integrated lifestyle community emerging the most modern diversified urban designs and uses with international standard facilities and services.

Saeed Al Nahdi, vice president, Sumou Holding Co., said: “We are very pleased to support Cityscape Jeddah as principal sponsor for the 6th year running since the event play a vital role in positioning Jeddah as one of the biggest and most dynamic real estate markets in the region. Furthermore, by promoting investment Cityscape contributes to making the Kingdom’s real estate development sector a key part of Saudi Arabia’s economic growth.”

This article was first published in the Saudi Gazette on March 4, 2015.

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