Maskan Arabia to unveil key Saudi projects
Riyadh, April 28, 2012
Maskan Arabia, a leading construction company in Saudi Arabia, will showcase its latest housing projects at the Riyadh Real Estate and Urban Development Exhibition 2012 (Restatex 2012) which opens today (April 29).
The event, which will run till May 2 at Riyadh International Exhibition Center, will see Maskan Arabia highlight the necessity of providing affordable finance to developers for carrying out more housing projects.
Most of the development companies in Saudi Arabia aspire to accelerate new housing projects, said a senior official.
Consequently, investors need to take into consideration the high cost of construction and the shortage of qualified contractors, which makes their prices high according to supply and demand balance, while the quality of individual contractors' work does not meet the required standards, remarked Hossam Al-Rashoudi, the CEO of Maskan Arabia.
However, the high cost of construction is not the only obstacle that real estate development companies face.
In fact, high prices of white lands and lack of proper financing solutions signify the main problem that prevents citizens from obtaining proper affordable housing for their families and represent a major challenge for investors in this field, he added.-TradeArabia News Service