Injaz Development to participate in Cityscape Jeddah

The three-day exhibition, which will be held between the 14th and 16th of June, is expected to host more than 150 exhibitors this year.

Injaz Managing Director Omar Abdullah Al-Kadi will participate in a panel discussion on 'Residential Requirements in the Kingdom and Strategies to Encourage Growth'.

Al-Kadi and Mohammed Rabih Itani, Injaz's Vice President Marketing, will also join the investor roundtable discussions at the event.

"Cityscape is an excellent platform to interact with investors in Saudi Arabia, and the discussions at the conferences will promote better understanding of the potential of the real estate market in the Kingdom,"

Al-Kadi said.

The Saudi real estate market has been under the spotlight since the beginning of the credit crunch last year. There is general consensus among industry observers and real estate companies that the Saudi market has the potential to flourish by attracting more investments provided sector is supported with the right kind of structural measures. Injaz stand will display the company's flagship project Al-Marina.

It is located on the Al-Khobar-Dammam corridor on the seafront, and will consist of residential units and commercial buildings, supported by infrastructure and community amenities such as roads, mosques and recreational facilities. The project has drawn considerable interest from investors as well as prospective buyers. In addition to Al-Marina, Injaz announced the Al-Gamra project in Riyadh at the 12th real estate exhibition in April this year.

The panel discussion will look at strategic ways of meeting the demand for around 2 million residential units within the next 10 years in the Kingdom.

Addressing a conference in Riyadh recently, Al-Kadi said that apartments can be seen as one practical solution to the housing shortage in the Kingdom. He cited a study conducted by Injaz earlier, which showed that 30% of the population in Jeddah live in apartments rather than villas, a percentage that can reflect the growing demand for convenient and affordable housing.

Injaz Development Company was established in 2006 in Riyadh as a Saudi investment company and a master developer. It is specialized in designing and building comprehensive projects that form 'cities within cities'.