Page 48 - Logic Consulting Report - September 2023

9/22/23, 10:10 AM Saudi Ministry of Municipal, Rural Affairs and Housing signs Memorandum of understanding with LOGIC Consulting to uplift …
Furthermore, it signifies the Ministry’s goal to raise the number of real estate contactors by fostering their
transformation into real estate developers.

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, highlighted that the
cooperation agreement between both parties will support real estate developers in the Kingdom. The partnership will

pave way to boost 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 specialising in administrative expertise, like
LOGIC Consulting, will lead to the development of highly effective strategies for augmenting the efficiency and

capabilities of 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.

Amr Osman, Chairman of LOGIC Consulting, a well-established name in strategic consulting and governance in the
region, expressed his happiness in signing the MOU with Ministry of Municipal, Rural Affairs and Housing of Saudi

Arabia. In addition, he conveyed his appreciation for the Ministry’s faith in the company’s abilities, which is a major
driving force behind its continued commitment to offering consultancy services that are in line with the goals of

Saudi Vision 2030. Amr Osman highlighted that the timing of this MOU is significant, particularly given that the
th
company is commemorating its 25 anniversary since its establishment in 1998.

For his part, 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 achieve a homeownership rate of 65% by 2025 and further increase it to 70% by 2030. It

aligns with the objectives of Saudi Vision 2030, which is led by the Custodian of the Two Holy Mosques and His
Highness the Crown Prince. By placing an emphasis on the housing program, the country established a dedicated

program to bolster real estate developers, coupled with formal agreements designed to effectively manage price
fluctuations within acceptable inflationary parameters. This strategic approach is geared towards sustaining stability
in real estate prices and augmenting the appeal of the real estate sector within the Kingdom as a prime destination

for investment.

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