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WITH housing in high demand, and prices increasing rapidly, Ewaan Global Residential Company, one of the leading real estate development companies in Saudi Arabia, is studying several new construction and building solutions to help Saudi citizens own their own home at an affordable price.
The company is planning to implement projects that focus on precast and prefabricated houses, as well as greenhouses in the Kingdom. By having such projects in Saudi Arabia, buyers will have the opportunity to own their property in less time and at an affordable rate.
Ewaan CEO Fadi Qassim said having different types of buildings, such as greenhouses, is a must so that buyers can have other alternatives to traditional houses. He explained that these alternatives are now a must for buyers and developers.
“We as developers should have new solutions rather than the traditional construction because of the expenses that the market cannot handle today as well as other factors such as having enough labor,” he said.
He added that continuing with traditional housing construction would create a problem, as the market cannot continue to manage the rising prices.
Qassim, added that these new alternatives could be available in around 15 to 20 years in the housing market, but that buyers needed to be aware and educated about the benefits of these new alternatives.
For instance, greenhouses would give the homeowner the chance to save money on water and electricity.
Sloanes KSA showcases
Bayat Plaza at Cityscape
‘Living high in the sky’ is the concept behind the Bayat Plaza apartments project that was on show at Cityscape Jeddah from Nov. 2-4.
Bayat Plaza, a two tower, high-rise residential development by Sloanes Real Estate Brokers, a subsidiary of Sabban Group Companies, is expected to finish by the end of 2017. Already, 80 percent of the project has been completed, and 40 percent has been sold.
According to Managing Director of Sloanes Real State KSA Arron Browne Bayat Plaza is aimed at those with middle incomes looking to buy their first home. The properties are located in the heart of Jeddah at the intersection of Madinah and King Abdullah roads.
With the current shortage of housing in the Kingdom, the company is aiming to help buy providing new apartments for Saudis.
Browne said it would be easier to buy an apartment in the development rather than spending time and money buying land and building a villa or a house.
The project includes two neighboring towers that will offer 268 luxury apartments, including two, three, four and five bedroom options. The project includes other facilities, such as a gym, on site.
Bayat Plaza was recently noted as highly commended for Best High-Rise Residential Development in Saudi Arabia at the International Property Awards.
New exhibitors at Cityscape
The 7th edition of the Jeddah Urban Development & Real Estate Investment Event, Cityscape, is proving a great opportunity for exhibitors to showcase their new projects and for e-commerce companies that focus on selling real state online to educate visitors about their business.
Aligning with the 2030 vision, the event will help enhance tourism through developers looking to expand in this sector and leverage the country’s cultural and ecotourism offerings.
The event was opened on behalf of the Governor of Jeddah, Prince Mishaal Bin Majed, by the mayor of Jeddah Municipality, Hani Mohammad Aburas.
According to the Exhibition’s manager, Ahmed Zakaria, this year’s event is different with the increased space and number of exhibitors, with 50 new exhibitors.
International, as well as local real estate companies, are taking part in the event, including Jeddah Economic City and Jebel Ali.
© The Saudi Gazette 2016
