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REDF aims market surplus of residential units in KSA

Saudi Arabia - June 12, 2015
Youssef Al Zagheby

Youssef Al-Zagheby, general manager of Saudi Real Estate Development Fund, that the fund targets managing significant cooperation with leading financers and developers in KSA.

Al-Zagheby added that fund’s accomplishment during the past year is equivalent to what it offered in decades due to the [patronage of his highness King Salman.

He added during the first real estate sector and housing conference that the find is looking forward to reaching the surplus epoch not solving the problem only.

During his speech in the conference the executive manager of Rafal Real Estate Development, Maged Al Haqel, said that demand tendencies changed in the past years in KSA to be more concentrated on floors and apartments. He added that demand rate on apartments rose by 17% in the period between 2010 and 2014 while demand on villas rose by 8% only.

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