ISO Granted Al Oula Company Quality Certification
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Ayid Al Qahtani : Complexity of procedures for Real Estate Stocks creates losses of 8 Billion annually
Al Iqtisadiah form Riyadh – 08/06/1428H
Mr. Ayid Al Qahtani, the managing Director and President for Al Oula Company, called the concerned authorities in the state for necessity o find appropriate solution for the Act of Real Estate Stocks, which characterized by complicated procedures, which resulted in losing of huge investments range between 5 to 8 billion SR annually. That particularly led to the recent shift in transferring of great part of crude land into ready lots of high standard services, which save for investors and individual to have access for ready developed lots.
Mr. Ayid Al Qahtani spoke after obtaining of Al Oula Company the ISO Quality Certification “ if the real estate stopped then the interaction between the seeker for feasible investment channels and real estate developers will be stopped also, particularly related to real estate, which is considered less risk comparative to other markets.” Added “ existing of hindered real estate stocks was due to entering of unspecialized person into the real estate market with wrong concepts, which led to not following the proper policy regarding the real estate stocks.”
But he pointed, “ the real estate socks within the last 30 years have contributed significantly in development of the investments particularly in the eastern area, besides, development of great part of real estate lands and building.”
Mr. Ayid Al Qahtani added “ turning away of investors from real estate stocks from my point of view refer to the law which applied by the Capital Market Corporation, which is helping the bank and not helping the real estate investors, who depends on simplicity of dealing with real estate stocks.”
Mr. Ayid Al Qahtani explained “ Importance of obtaining of Al Oula the ISO quality Certification, the real estate industry in KSA will work to provide best techniques of work inside the real estate organizations that will enable them to offer good example for real estate industry, and the obtaining of Al Oula of ISO quality certification represent as new encouragement to continue professional work in order to create integrated real estate industry in the market.
Also Mr. Ayid Al Qahtani added “ the obtaining of Al-Oula Company of ISO Quality Certification will multiply liability to provide best real estate solutions in a market considered as biggest market in the area for real estate, under remarkable progress occurring the Kingdom and significant care and support receive from government of Custody of Two Holy Mosques King Abdullah Bin Abduaziz, who is supporting any activity that will return benefit to the national economy.