Cityscape Riyadh to leverage 350,000 investors
Riyadh, November 14, 2010
Cityscape Riyadh 2010, the inaugural local edition of Saudi Arabia’s premier real estate investment and development event, will leverage a global network of around 350,000 investors and real estate professionals.
Officially endorsed by Saudi Arabia's Ministry of Trade and Industry and organised by National Exhibitions Company and Cityscape, the Riyadh International Urban Development and Real Estate Investment event is poised to follow up on the huge success of the Cityscape Jeddah exhibition and conference held in June this year.
The expo, to be held from December 12 to 14 at the Four Seasons Hotel, will display the products and services of over 50 domestic and international real estate firms.
The three-day event will feature a large scale exhibition, investor round tables (December 12 to 14) and Riyadh’s International Urban Development and Real Estate Investment Conference (December 12 to 13), providing a comprehensive business-to-business platform for key industry players to pursue new projects and support the "New Riyadh" development concept.
"Riyadh finally has its own comprehensive forum for industry players and investors to maximize the potential of its real estate landscape, and just at the right time," said Deep Marwaha, director of Cityscape Riyadh.
"The various and diverse developments across the city indicate that Riyadh is on the verge of becoming a fast-paced commercial and lifestyle hub. The huge success of Cityscape Jeddah last June helped boost interest for the first-ever Riyadh edition and we expect a lot of return guests from that previous event," he noted.
Around 70 per cent of exhibition space has already been booked. The conference will provide learning and networking opportunities with over 40+ expert speakers and more than 150 delegates.
Around 1.1 million sqm of additional office space are expected to be delivered in Riyadh, said Marwaha.
"A key project in the city is the King Abdullah Financial District (KAFD), a SR37.5 billion ($10 billion) 40-tower office, residential, educational, sports, retail and cultural complex that is part of the emergence of a ‘New Riyadh.’
Another high-profile real estate development aimed at reinventing the capital is the SR15 million expansion and renovation of the Riyadh Governorate. Overall, commercial space in the area is expected to expand significantly in the next 4 to 5 years as the city shifts to its ‘New Riyadh’ brand.
Riyadh’s real estate sector, on the other hand, plans to continue capitalizing on the Kingdom’s status as the top foreign direct investment (FDI) destination in the Middle East. Saudi FDIs were worth SR135 billion last year, placing it 8th among the world’s top FDI recipients in 2009, he added.-TradeArabia News Service
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