The Kingdom of Saudi Arabia hosted the Real Estate Investment World Summit on October 18th - 20th

The participants attended various panel discussions addressing issues regarding the market trends and regulations, future projects and funding.

They had the opportunity to network with high net worth individuals from Saudi Arabia and across the region including:

·HRH Prince Mohammed Bin Salman
·HRH Prince Abdul Aziz Bin Mishaal, Chairman, Al Shoula Holding - Saudi Arabia
·HRH Prince Turki Bin Salman Bin Abdul Aziz Al-Saud, Chairman, Tharawat Holding Company - Saudi Arabia
·Prince Dr. Abdul Aziz Bin Mohammed Bin Ayyaf Al-Miqren, Mayor of Riyadh Region
·Mohammed A. Al Sarhan, Vice President, Al Faisaliyah Group - Saudi Arabia
·Khaled Saeed Esbaitah, CEO, Al Mazaya Holding Co. - Kuwait
·Abdulaziz Al Duailej, Chairman, Al Oula Company - Saudi Arabia
·Durmus Yilmaz, Governer, Central Bank of Turkey - Turkey
·Russell Sternlicht, CEO, Starwood Capital EMEA - France
·Eng. Ibrahim Al Rajhi, Chairman, The Land Holding
·Ramzi Abu Khadra, Managing Director, JP Morgen Chase Bank
·Tahir Mohamed Bawazir, CEO, Knowledge Economic City Developers Co Ltd - Saudi Arabia
·Khalid Mohammed A. BinGazah, Ministry of Transportation - Saudi Arabia
·Alaa Micheal Cutler- Hodgson, CEO, Oyoun Tourism Development Company - Egypt
·Adel Marzook Al Nasser, Dy Managing Director, SABB - Saudi Arabia
·Jamal K Al Hijji, Vice Chairman, Sorooh Investment - Kuwait

The Real Estate Investment World Summit was officially opened on October 18th at 8.00pm at the Four Seasons hotel by Scott Ragsdale, CEO of naseba and Abdul Rahman Al-Jeraisy, Vice Chairman of the Council of Saudi Chambers of Commerce and Industry.

The opening was followed by the Awards for the Leaders in Real Estate Ceremony, exclusively designed to reward real estate companies, banks and financial institutions for their global excellence in the Islamic real estate industry.

The Council of Saudi Chambers and naseba launched the Real Estate Investment Awards Ceremony in September 2008.

The eight awards categories are described as followed: Leading Real Estate Developer, Best Sustainable Project, Leader in Islamic Hospitality, Best Islamic Real Estate Project, Leading Islamic Financial Institution, Best Islamic Fund Manager, Best Islamic Real Estate Fund and Leading Entrepreneur of the Year.

The eight winners are:

·Leading Real Estate Developer - Nakheel (UAE)
·Best Sustainable Project - Masdar City, (UAE)
·Leader in Islamic Hospitality - Shaza Hotel, (UAE)
·Best Islamic Real Estate Project - Tamani Hotel, (UAE)
·Leading Islamic Financial Institution - Emirates Islamic Bank, (UAE)
·Best Islamic Fund Manager - Global Investment House, (Kuwait)
·Best Islamic Real Estate Fund - Kuwait Finance House - Baitak Asian Real Estate Fund, (Kuwait)
·Leading Entrepreneur of the year - HRH Prince Alwaleed Bin Talal - Chairman of Kingdom Holdings, (Kingdom of Saudi Arabia)

The winners were chosen by a jury consisting of:

·Mr. Oliver Cornock, Regional Editor for GCC, Oxford Business Group
·Mr. Abdullah Hameedadin, Deputy Governor-Economic Cities, SAGIA
·Mr. Turki Al Fadel, Legal Counsel, Council of Saudi Chambers

The judges marked the scores on the basis of the pre-set criteria and entry form submitted by the nominees.

The following criteria was assessed by the panel of judges: the scale of the project, design, use of materials, use of alternative technologies, sustainability elements, types of funds offered, customer service, financial knowledge, innovation and adherence with the Shari'ah principles.

One of the most significant awards presented at the event was the category Leading Entrepreneur of the year.

naseba group Chairman and CEO, Scott Ragsdale, met HRH Prince Alwaleed Bin Talal Alsaud at Kingdom Center on Sunday, 19th of October to personally congratulate him and hand over the trophy.

"It was an incredible honor to meet with HRH Prince Alwaleed Bin Talal Alsaud, someone whose extreme work ethic, visionary leadership and generous spirit gives a real meaning to the expression "success is a choice", commented Scott Ragsdale."

Ragsdale said.

HRH Prince Alwaleed Bin Talal Alsaud has been rewarded for his high contribution to the development of the Kingdom of Saudi Arabia market by opening up the country and helping bridging the gap between the East and the West.

"The Saudi market is untapped for foreign investors. The initiative to organize such a high level summit definitely helps them discover new opportunities the Kingdom of Saudi Arabia has to offer as well as build long-term investors' confidence. I believe that platforms such as the Real Estate Investment World Summit will enable local players to become more transparent and attract foreign investments. I appreciate the recognition as leading entrepreneur and look forward to following naseba's future activities."

explained HRH Prince Alwaleed Bin Talal Alsaud.

Throughout the two days of the summit, industry-renowned speakers, such as:

·Khaled Al Kamda, Group Managing Director, Dubai Islamic Bank
·Ali Al-Ghannam, Head of International Real Estate Department, Kuwait Finance House
·Ford Fraker, U.S. Ambassador, to Saudi Arabia
·Andrei Ugarov, CEO, The National Investor
·Badlisyah Abdul Ghani, CEO, CIMB Bank Malaysia
·Abdulaziz Al-Abdulkader, Chairman, Osool Capital, Vice Chairman, Gulf International Bank Bahrain
·Blair Hagkull, MD - MENA, Jones Lang Lasalle
·Rehan Ateeq, Co-CEO, Capri Capital U.S.A.
·Ashraf Ghazaly, Vice President-Strategic Planning & Business Development, Palm Hills Development
·Kar Tung Quek, CFO, Nakheel PJSC
·Dr. Sadek Owainati, Engineering Consultant, Chairman, Emirates Green Buildings Council, discussed the international economy and the impact of the credit crunch comparing relations worldwide, how to respond to the risks in financing real estate projects, the investment in real estate in Saudi Arabia compared to other investments, the growing popularity of Sukuk in real estate financing as well as the sustainability in Islam, just to name a few.

The summit featured an exclusive exhibition with leading companies in the real estate and finance such as Abraj Tourism, Kuwait Finance House, Nakheel, Abu Dhabi Islamic Bank, Dubai Islamic Bank, The Land Holding, Al Oula Development, CIMB Islamic Malaysia, Al Rajhi Bank, Deyaar, Palm Hills Development, TMG Holding, Dar Al Mimar, Rooya Group and Tharawat.

High officials from the Middle East, such as the Egyptian Minister of Trade and Industry HE Rasheed Mohamed Rasheed, who was leading a government delegation on his visit in the Kingdom, visited the exhibition to discuss the latest projects the leaders were presenting at the event.

The first edition of the Real Estate Investment World Summit marked a new approach by bringing leading investors, real estate developers, government officials and Royalties together to experience a unique networking and sharing opportunities in real estate and investment.

naseba will be hosting the 2nd edition of the Real Estate Investment World Summit in May 2009 in Riyadh, Kingdom of Saudi Arabia.