| 29 February 2024, Thursday |

Saudi Arabia: Real Estate Assets Evaluated at $26.6 Billion

Secretary-General of Saudi Authority for Accredited Valuers (Taqeem) Faisal Almandeel said the real estate sector’s activities registered an expansion, which is evidenced in the real estate assets evaluated in 2021 at a total value of SAR 100 billion ($26.6 billion).

His comments came during the Real Estate Future Forum, which recently concluded in Riyadh, with the participation of top officials and executives in the sector.

Almandeel said that Taqeem issued 127,000 evaluation reports for the beneficiaries of the real estate fund since mid-2021.

He added that the evaluator contributes to preserving the rights to several operations such as sale, purchase, acquisition, disputes, and litigation.

According to Almandeel, the authority continues to offer qualification and training programs and has provided more than 1,400 training courses to more than 30,000 beneficiaries.

Meanwhile, the Makkah Chamber is hosting this Saturday a real estate makers forum with wide participation of government officials, investors and experts in the real estate sector, as part of the Chamber’s celebrations of the 75th anniversary of its founding.

The forum is one of the initiatives of the National Real Estate Committee, which seeks to spread knowledge awareness in the real estate sector, highlight investment opportunities, stimulate real estate investment, and build partnerships between government agencies and stakeholders.

  • Asharq Al-Awsat