Page 34 - Logic Consulting Report - September 2023

9/22/23, 10:08 AM Saudi deal with Logic Consulting to boost real estate sector
Saudi deal with Logic Consulting to
boost real estate sector

RIYADH, 1 days ago
The Saudi Arabia Ministry of Municipal, Rural
Affairs and Housing has signed a
Memorandum of Understanding (MoU) with
Logic Consulting to boost the capabilities of
real estate contractors and developers in the
kingdom.

The announcement of the MoU was made in
the presence of Eng Abdullah bin Mohammed
AlBudair, the Deputy Minister of Municipal,
Rural Affairs and Housing, during the
Cityscape Global Exhibition held in Riyadh
from September 10 to 13, 2023.
The signing ceremony
The ministry was represented by Abdul
Rahman bin Abdullah Al-Taweel, the Undersecretary of the Ministry of Municipal, Rural Affairs and Housing for
the Agency for Stimulating Housing Supply and Real Estate Development and Amr Osman, the Chairman of
Logic Consulting.

Raising quality of realty developers
The commitment comes in line with “Providing support and empowerment services to enhance the effectiveness
of real estate developers” initiative. Furthermore, it signifies the ministry’s goal to raise the number of real estate
contractors by backing their transformation into real estate developers.

Al-Taweel said the partnership will pave way to improve the efficiency and performance of developers by
providing a wide array of services which helps enhance their capabilities and tools to streamline their journey.

As a result, this collaborative approach is poised to effectively address the escalating demand for residential units
among the kingdom's citizens. Al-Taweel underscored the pivotal role that such partnerships with the private
sector play in fostering top-tier and enduring initiatives aimed at advancing the real estate industry, aligning with
the aspirations of Saudi Vision 2030. Moreover, he highlighted that collaborating with distinguished consulting
firms with administrative expertise, like Logic Consulting, will lead to the development of highly effective
strategies for transforming real estate developers within the kingdom.

This, in turn, will guarantee the sustained viability of the ministry's support services provided to real estate
developers, thereby stimulating housing supply and elevating the overall performance of the real estate
development market.

Top-notch consulting
Osman said that the timing of this MoU is significant, particularly given that the company is commemorating its
25th anniversary since its establishment in 1998.

Mostafa El Ghorab, KSA Country Manager at Logic Consulting, stated that in order to provide the ministry with
top-notch consulting services, the company plans to draw on its 25 years of expertise in the region offering
consulting services across a variety of industries, including both government sector and private enterprises in the
Mena region. The objective is to establish the company as a reliable and authoritative source for consultations
and tailored solutions aimed at enhancing the long-term sustainability of clients' enterprises.

The ministry has successfully provided 180,000 housing units within a relatively short timeframe. The ambitious
goal of the Ministry is to increase the number of homeowners to 65% by 2025 and 70% by 2030. It aligns with the
objectives of Saudi Vision 2030. By placing an emphasis on the housing programme, the country created a
dedicated programme to bolster real estate developers, coupled with formal agreements designed to effectively
manage price fluctuations within acceptable inflationary parameters.-- TradeArabia News Service

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