Olaya announces a multi-purpose project in a bid to overcome the great lack of residential properties in the kingdom.
International Property Week (IPW) 2006, the comprehensive annual trade exhibition for international and Middle East property markets held as part of the International Property Week, has extended its reach in the Kingdom of Saudi Arabia (KSA) real estate markets with leading Saudi real estate firm Olaya, exclusive regional agent of renowned UK-based Coldwell Banker, announcing support and sponsorship for the exhibition.
Saudi-based Olaya, operating out of Riyadh and Jeddah with a specialised team of more than 150 employees providing management and real estate financial services, announced support and sponsorship for the show. The move comes as Olaya looks to raise the profile of its recently launched major multi-purpose project in southern Riyadh, looking to offer 12,000 residential units in addition to clinics, schools, shopping facilities and public amenities in a bid to address the massive shortage of residential properties in Saudi Arabia.
There is a shortage of 225,000 homes in Riyadh alone, and a nationwide need for more than one million.
IPW 2006, organised by Strategic Marketing and The Domus Group, is gaining momentum as a comprehensive platform for local, regional and international developers to showcase their real estate offerings, and will be held from February 21 to 23, 2006 at the Dubai International Exhibition Centre (DIEC).
Building networks
Dr. Badr Bin Ibrahim Bin Saedan, Chairman, Al Olaya, says, "Events such as the International Property Week emphasise the importance of networking and developing direct links with the marketplace. The show will serve as a platform not just for business development, but also mutual exchange of experience, expertise, and innovative solutions. We fully support the show, and believe it to be an excellent medium for bringing different facets of the market together. We look forward to its success and growth."
Dawood Al Shezawi, Chairman, Strategic Marketing, says, "The International Property Week caters not just to the highly active Dubai real estate market, but also brings to focus regional markets and international offerings. The International Property Week is the premier platform where buyers and investors meet, and we are certain to see important deals closed during the show."
IPW will allow visitors to appraise a multitude of premium international investment opportunities and is expected to attract investment by regional and international investors alike. The Property Week will also host free seminars offering a comprehensive synopsis on global real estate investment opportunities for private investors and real estate consultants, and provide on-site tours to some of the more innovative developments. Further information on the show can be found at the IPW's official website, www.dubaipropertyshow.com.
David Domoney, Managing Director, the Domus Group, says, "Decision makers, investors and law-makers alike are speculating forthcoming changes in market dynamism brought about by the completion of new property developments and the possible introduction of new legislation. The market, while still growing at a rapid pace, is nevertheless stabilising,
signaling the end of the speculative off-plan earnings era. IPW's comprehensive exposition of real estate ventures will allow buyers to contrast and discuss multiple locales and options before reaching a calculated decision."
"The show is being closely watched by developers and investors as an indicator of a changing real estate market."
