Finance options enhance investment in Saudi real estate sector, say experts at Riyadh forum
RIYADH: More than 5,000 investment opportunities in different regions and sectors of the Kingdom were unveiled at the second session of the Municipal Investment Forum, FURAS, which is being held at the Riyadh International Convention and Exhibition Center.
The two-day forum, which will conclude on Jan. 26, is hosting 25 dialogue sessions, more than 50 specialist workshops on issues related to investment in cities, and will include about 100 speakers and experts.
It was inaugurated by the Minister of Municipal, Rural Affairs and Housing Majid Al-Hogail.
Al-Hogail said that investments contribute to achieving the goals of the Kingdom’s Vision 2030 by providing qualitative services in Saudi cities, improving the urban landscape, developing and diversifying recreational opportunities, making state-owned assets available to the private sector, developing the activities of other sectors, and increasing the contributions of small and medium enterprises.
Ministries have made efforts to automate technical procedures through a unified platform to help investors, such as procuring licenses from the Balady platform to work in the municipal sector, or optimizing investment opportunities through the FURAS portal and other licensing platforms serving the tourism, entertainment and other sectors.
The Minister of Municipal, Rural Affairs and Housing Majid Al-Hogail, (left), Saleh Al-Jasser, Minister of transport, (center), Minister of Investment Khalid Al-Falih. (Supplied/MOMRAH)
Khalid Al-Baker, CEO of Quality of Life, said that private sector investment and support for entrepreneurs are important factors in diversifying local goods and services, and in investing in sustainable projects and initiatives to achieve financial efficiency.
He said that allowing investors to enter the local market has helped the cinema sector meet all its targets.
The tourism and leisure sectors have great potential and are attracting thousands of companies, Al-Baker said.
Qatar, participating in the forum as the guest country, outlined its experience of organizing the FIFA World Cup 2022, and highlighted the role of the private sector and investment opportunities in the development of cities, infrastructure and improving the quality of life of the population.
On the sidelines of the forum, the Substitute Investment Forum brought together more than 60 potential owners and financiers, and witnessed the launch of a number of pilot programs and projects.
The Ministry of Environment, Water and Agriculture signed an agreement with the Tourism Development Fund and the National Center for Vegetation Development and Desertification Control to invest in Saad National Park, 100 km east of Riyadh.