The conference discusses real estate challenges and solutions post COVID-19 and cements cooperation between the UAE and KSA

3 August 2020:   The Dubai Real Estate Institute (DREI) in Dubai Land Department (DLD) is organising the first virtual real estate conference titled ‘Real Estate post-COVID-19 – Challenges and Solutions,’ in cooperation with a number of entities in the KSA. The conference, which will be held on 23 – 24 August, will witness the participation of a group of real estate speakers and experts from both countries. The sessions will be held through modern technology that supports the remote organisation of conferences and exhibitions.

This conference is in line with the keenness of the UAE Government and Dubai’s Government, represented by DLD and DREI, to raise the levels of cooperation with the public and private real estate sector in the KSA. The conference organisers hope that it will contribute to supporting the economic partnership, specifically knowledge aspects related to the real estate sector. As CEO of DREI, Hend Obaid Al Marri will lead the DREI team, while Mohammed Ali Al Bur, CEO of Smart Decision Training Center (SDTC), will lead the Saudi counterpart.

Commenting on the first-of-its-kind conference, Hend Obaid Al Marri, CEO of DREI, said: “With our partners in the KSA, represented by SDTC, Land Sterling, and its partner Mohammed Al Bur Real Estate Valuation Office, we considered the necessity of organising this knowledgeable conference in a timely manner to exchange experiences and insights regarding the challenges posed by COVID-19 on the real estate sector globally. Thanks to the participation of a group of specialised experts, we will be able to find a set of solutions that contribute to the return real estate activity to its normalcy, especially since the two countries have exceptional attractions in the eyes of real estate investors, institutions, individuals, and investment funds, all of whom stand to benefit from the promising economic prospects. In the same framework, a package of training courses will be prepared and presented in conjunction with the conference to serve the Saudi real estate market, especially in the post-COVID-19 period.”

The conference will include seven main topics that will be discussed across two full days. The economic topic will address issues related to the government’s support of the local economy and help it overcome the crisis, while also addressing the financial incentives, challenges, and economic impacts facing the real estate sector in light of the current crisis. The financial topic will focus on real estate financing and its interaction with the current crisis through challenges and solutions, with a review of government and private financing agencies as well as a discussion of its strategy in support of the real estate sector. Participants in the marketing topic will discuss issues related to real estate marketing in addition to new strategies and means in light of the current crisis, including the expected post-crisis marketing methods and their impact on the real estate sector and the market.

Affirming the knowledge dimension in this sector, the education topic will highlight DREI’s experience in the field of real estate education as well as that of the Saudi Authority for Accredited Valuers, the Real Estate General Authority, and the Saudi Real Estate Institute. The technology and IT topic will discuss the feasibility of remote learning, the use of modern methods in training courses, and mechanisms for providing real estate services remotely to beneficiaries in the KSA through the Ministry of Housing and the Ministry of Justice.

The legislative topic will highlight the role of the Real Estate General Authority in the KSA as well as DLD’s role, operations, and activities related to regulating the real estate sector. The seventh and final topic, the investment topic, will be devoted to discussing the role of governmental entities and organisations in stimulating real estate investment.

Mohammed Ali Al Bur, CEO of SDTC, said: “The current circumstances require us to jointly coordinate and collaborate to overcome the COVID-19 consequences, not only on the real estate sector but the global economy in general. By combining our specialised expertise with the qualified competencies at DREI, we will be able to reach solutions, mechanisms, and treatment plans for the repercussions of the crisis on our sector, based on the seven topics. We look forward to the launch of this conference, through which we will present an ideal model for exploiting advanced infrastructure to continue consulting with our partners, consolidating the distinguished relations between our two countries in all fields to accelerate progress and prosperity.”

DREI signed a memorandum of understanding with SDTC on 17 June under the slogan ‘Building and Strengthening Joint Cooperation’ as a reflection of the two countries’ keenness to elevate levels of cooperation in various fields as well as support the economic partnership between them, especially in the real estate and knowledge sectors.