01 June 2010

AFFORDABLE housing will be in focus at this month’s Cityscape Jeddah amidst predictions that Saudi Arabia could face a shortfall of one million houses within the next few years.

Cityscape Jeddah 2010 will showcase, over 10,000 sq m of space, projects and services of more than 100 local property developers, investors and service-driven firms with the potential to meet low-cost housing needs.
The exhibition, which runs from June 7 to 9 at the Jeddah Centre for Forums and Events, is being held under the patronage of Jeddah governor Prince Misha’al bin Majed bin Abdul Aziz.
The Jeddah Chamber of Commerce and Industry is also a key supporter of the event.
Cityscape Jeddah director Deep Marwaha says that Saudi Arabia’s population is expected to hit 27 million next year, while pointing to reports that the kingdom could face a shortfall of one million houses by 2013 due to its rising population. This, along with the government’s focus to facilitate housing for low and middle income citizens under the directions of King Abdullah of Saudi Arabia, Custodian of the Two Holy Mosques, will put affordable housing in the spotlight at the expo, Marwaha says.
Cityscape Jeddah will also feature the second annual Saudi Arabia real estate investment and development conference, which will be held under the theme transparency, investment models and future partnerships. There will also be investor roundtables in addition to the second Cityscape awards for real estate in Saudi Arabia.
Cityscape Jeddah’s sponsors include Sumou Real Estate, Knowledge Economic City, and Shuaa Capital.

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