Page 31 - Logic Consulting Report - September 2023

9/22/23, 10:07 AM Saudi Ministry of Municipal, Rural Affairs and Housing signs Memorandum of understanding with LOGIC Consulting to uplift …
efficiency and capabilities of real estate developers within the Kingdom. This, in turn, will guara
support services provided to real estate developers, thereby stimulating housing supply and ele
estate development market.

Amr Osman, Chairman of LOGIC Consulting, a well-established name in strategic consulting an
happiness in signing the MOU with Ministry of Municipal, Rural Affairs and Housing of Saudi Ara
for the Ministry’s faith in the company’s abilities, which is a major driving force behind its conti
services that are in line with the goals of Saudi Vision 2030. Amr Osman highlighted that the ti
given that the company is commemorating its 25th anniversary since its establishment in 1998

For his part, Mostafa El Ghorab, KSA Country Manager at LOGIC Consulting, stated that in orde
consulting services, the company plans to draw on its 25 years of expertise in the region offerin
industries, including both government sector and private enterprises in the MENA region. The o
reliable and authoritative source for consultations and tailored solutions aimed at enhancing th
enterprises.

The Ministry has successfully provided 180,000 housing units within a relatively short timefram
achieve a homeownership rate of 65% by 2025 and further increase it to 70% by 2030. It align
which is led by the Custodian of the Two Holy Mosques and His Highness the Crown Prince. By
the country established a dedicated program to bolster real estate developers, coupled with for
manage price fluctuations within acceptable inflationary parameters. This strategic approach is
estate prices and augmenting the appeal of the real estate sector within the Kingdom as a prim

The real estate sector in Saudi Arabia has witnessed extensive modernisation and advancemen
programs and initiatives introduced by the country. These measures had a transformative impa
the regulation of the real estate market, expanded access to financing, simplified regulatory pr
options to meet diverse population needs and a substantial increase in overall housing supply. T
for realising a pivotal goal of Saudi Vision 2030, that is raising the rate of family homeownersh
these programs have yielded significant outcomes, effectively addressing demands of the resid
created a multitude of employment and investment prospects and succeeded in drawing develo
working towards delivering housing solutions that cater to the diverse needs of individuals thro

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