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11 December 2011, Residential Focus Day
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| 09:30 |
Registration
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| 10:00 |
Official opening and Chairman’s welcome remarks
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| 10:15 |
Inaugural Keynote Address
Dr. Fahad Al-Sultan, Secretary General, Saudi Council of Chambers, KSA |
| 10:30 |
Keynote Address
Comprehensive strategic plan for the city of Riyadh: Achievements and future aspirations
Eng. Ahmed M. Assubail, Director General of Strategic Urban Planning Department, Arriadh Development Authority, Saudi Arabia |
| 10:45 |
Panel discussion
Capitalising on the benefits of the long-anticipated Saudi mortgage law |
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- Assessing the mortgage law’s effect on generating actual future demand for residential property
- Examining the mortgage law’s capacity to deliver an efficient solution to the challenges facing the real estate sector in Riyadh
- Mitigating some of the challenges to the housing sector, including land scarcity, land affordability and off-plan sales restrictions
- Considering a regulatory framework that will improve transparency and build quality in the residential real estate sector
- Assessing the long-term effects, including market liberalization, various mortgage products and securitisation
- Determining the potential constraints on the effectiveness of the mortgage law
Abdulelah Alshaikh, CEO, Saudi Home Loans, Saudi Arabia
Khalid A. Al Othman, Founder and CEO, Saudi Mubadara Development Company, Saudi Arabia
Yasser Abuateek, CEO, Dar Al Tamleek, Saudi Arabia
Zuhair Hamzah, Executive Manager, Tamlik, Saudi Arabia
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| 11:30 |
Panel discussion
Highlighting measures for closing the supply gap in the Riyadh residential sector |
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- State and private investors’ roles in addressing the mismatch between the supply and demand for residential units
- Determining the effect of the various government financial injections on the housing market
- Reviewing the private sector’s role in providing mortgage and finance packages
- Assessing different strategies for constructing affordable housing in the Kingdom
- Debating forms of funding for affordable housing: Does a complete government funding or PPP model work best?
- Examining challenges to affordable housing schemes, including increasing land prices, restrictions on off-plan sales and a growing population
- Identifying international best practice in delivering affordable housing complexes
Radwan Hariri, Head of Development and Operations, Oger Real Estate, Saudi Arabia
Asher Noor, Group CFO, AlTouq Group, Saudi Arabia
Dr. Bassam M. Boodai, CEO, Jenan Real Estate, Saudi Arabia
Majed Al Hogail, CEO, RAFAL Real Estate Development Co. Ltd., Saudi Arabia
David Smith, Founder, Affordable Housing Institute, USA
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| 12:15 |
Prayer1 , refreshment and networking break
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| 12:45 |
Presentation
King Abdul Aziz Endowment in Makkah: Islamic financing stakeholders’ model applicable to affordable housing projects |
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- King Abdul Aziz Endowment project in Makkah (KAE) project overview
- Assessing banks’ response to financing KAE project in the early stages?
- Highlighting the project’s innovative financing strategy involving all KAE stakeholders
- What are the major advantages of the Islamic financing structure model to all KAE project stakeholders?
- Applying the Islamic financing stakeholders model to affordable housing projects utilising Bai Al Manafa Al Muagal and Mudarabah structures
Dr. Ibrahim Fahad Alghofaily, Board Member, Alinma Bank, KSA
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| 13:30 |
Finance Focus Panel
Considering various financing mechanisms for project development |
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- Assessing current funding challenges and examining global solutions
- Examining the state’s role in providing investment incentives for major housing project developers
- Creating new projects through real estate investment funds and appealing to the smaller investors
- Expanding the scope of banks’ financing of real estate developments and mitigating their risk-aversion following the global financial crisis
- Highlighting global experiences in financing real estate projects, attracting investors and alleviating risks
- Examining alternative forms of project financing, including Shari’a compliant financing
Eid Al Shamri, CEO, Ithraa Capital, Saudi Arabia
Nael Mustafa, Executive Director & Head of Real Estate - MENA & India, Arcapita Bank, Kingdom of Bahrain
Bennie Burger, Head of Investment Banking, Al Rajhi Capital, Saudi Arabia
Hamad Mughal, Director-Asset Management and Real Estate, Unicorn Capital, Saudi Arabia
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| 14: 15 |
Affordable Housing Focus Panel
Introducing new initiatives in consumer finance to create market growth in affordable housing |
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- Examining strategies to meet the Saudi housing market need for 1.65 million new units by 2015 to meet demand due to youth surge and smaller family size
- Addressing the challenge of affordability in light of the existing mismatch between prevailing home prices and average salaries
- Assessing the future success of the Real Estate Development Fund in meeting the consumer financing shortage
- Overcoming the challenge of creating affordable, sustainable housing communities in light of soaring land prices
- Capitalising on a growing market segment and developing new initiatives and products in consumer lending to address the shortage in home financing
David Smith, Founder, Affordable Housing Institute, USA
Syed Farhan Fasihuddin, Senior Housing Finance Specialist, IFC Global Financial Markets - EMENA Region, Pakistan
Dr. Bader Bin Saedan, General Manager, Al Saedan Real Estate Company, Saudi Arabia
Mahdi Al Abdalla, Executive Director, Real Estate Funds and Investments, Middle East Financial Investment Company (MEFIC), KSA
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| 14:45 |
Chairman’s closing remarks
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| 15:00 |
Prayer and networking lunch break
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1Dhur prayer at 11:47 a.m |
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2Asr prayer at 2:46 p.m |