Cityscape Jeddah comes at a key moment in time for the Kingdom’s real estate development sector where all eyes are on the continuous fluctuation of oil prices and its impact on the real estate sector.

More than 50 of the GCC’s major real estate developers and brokers are showcasing their projects at the Jeddah Urban Development and Real Estate Investment Event — Cityscape Jeddah — taking place for the sixth time at the Jeddah Centre for Forums and Events from Sunday (April 5).

The show opens under the patronage of Prince Mishaal bin Majid, governor of Jeddah.

The three-day event, comes at a critical moment for the Kingdom’s real estate development sector where all eyes are on the continuous fluctuation of oil prices and its impact on the real estate sector.

Also, recently, as part of a full reform package, a royal decree was issued by Custodian of the Two Holy Mosques King Salman allocating SR20 billion for electricity and water services. This move signals the Kingdom’s intent to solve the challenges facing the real estate industry. The new funds will be used to provide the necessary infrastructure for government lands allocated for housing projects.

Abdullah bin Mahfouz, chairman, National Exhibitions Company, organizer of Cityscape, said: “For the sixth year running we look forward to welcoming real estate developers from Saudi Arabia and across the region.

Among the companies supporting the event are Sumou Holding Company (principal sponsor), Ewaan Global Residential Company (founding sponsor), Dubai-based Sobha Hartland (gold sponsor), IQI Group (silver sponsor), Benfaqeeh Real Estate Investments from Bahrain, LS Company, Sabban Property Investments, and Lifestyle Developers.

Ewaan Global Residential Company is exhibiting its “hugely successful” Alfareeda residential real estate project, and its adjacent Almayaar project that is designed to offer alternative affordable residential apartments for families looking for a community lifestyle living experience. In addition, the company is showcasing its new project in Riyadh.

Emphasizing the importance of Cityscape Jeddah, Riyadh Al-Thagafi, CEO of Ewaan Global Residential Company, said: “As a founding sponsor of Cityscape Jeddah, we keenly look forward to this event each year as the perfect platform to showcase our projects, while giving our peers the benefit of our extensive and in-depth experience in developing residential communities that meet the requirements of the modern Saudi families and exceed its expectations.”

Sumou Holding Company, is showcasing Dhahiat Sumou project, which is the outcome of a unique vision of understanding the expectations and needs of the growing population in the Western Region and Makkah in particular adhering firmly not only to allocate housing units, but also to creating a healthy and integrated lifestyle community emerging the most modern diversified urban designs and uses with international standard facilities and services.

Saeed Al-Nahdi, VP, Sumou Holding Company, said: “We are very pleased to support Cityscape Jeddah as principal sponsor for the sixth year running since the event play a vital role in positioning Jeddah as one of the biggest and most dynamic real estate markets in the region. Furthermore, by promoting investment Cityscape contributes to making the Kingdom’s real estate development sector a key part of Saudi Arabia’s economic growth.”

Lifestyle Developers, participating for the second time in Cityscape Jeddah, is launching its latest development project, Diyar Al-Salam. In addition, the company is introducing other new, upcoming projects as well as showcasing a variety of completed development projects.

“Lifestyle Developers represents the forefront of the next generation in real estate development,” said Sultan Batterjee, founder and CEO of Lifestyle Developers. “We are a full service development company driven by an international team of talented real estate professionals whose combined breadth of experience includes acquisition, finance, design, development, construction, property management, marketing, legal and accounting.

Cityscape Jeddah consists of the two-day Real Estate Summit workshops and the three-day exhibition covering 10,000 sqm of exhibition space.

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