By Fatima Muhammad
JEDDAH — Investors in the real estate sector have highlighted the main challenges that face the sector, mainly the delay in obtaining the construction license which spans to 8 months, high salaries of workers, high prices of construction materials, water and electricity services. These factors tend to reflect on the prices of housing units.
Mohammad Al-Fadil, assistant to the general manager in the Ministry of Housing Office in Makkah region, said their Itmam Center offers an opportunity to investors to follow the services throughout the process of the development of their projects. The center also offers different studies to projects and aims at simplifying regulations.
Khalid Al-Shuwair, head of the housing committee, urged to find situations for the reduction in the development of the real estate sector. He added that Jeddah needs 120,000 housing units annually while only 50,000 housing units are being constructed annually. He noted that they are cooperating with the different government bodies to overcome the challenges among them, such as the Ministry of municipal and Rural Affairs, Ministry of Housing, the Municipality and the Shoura Council.
© The Saudi Gazette 2017
