Slums removal and new city planning are the most significant incentives to capital injection
Abdullah Al Gahtani:Recycling old quarters, in accordance with the kingdom’s vision, turns them into investment and tourism destination.
Khaled Al Harbi: The state support is a great incentive for encouraging the investments in the old quarters.
Recently, investors started considering investment opportunities in the old quarters, where they can recycle the old properties with a modern touch, benefitting from the holistic infrastructure the quarters already have.
Al Harbi: Substantial income and profit
The owner of Khaled Al Harbi auction bureau, Mr. Khaled Al Harbi, demonstrated that the new city planning for the old quarters is considerably profitable, compared to the exceedingly high prices of land plots in Northern Jeddah recently. What is more, the monuments and historical traditions the quarters still retain have turned these places into a touristic destination, majorly contributing to the increase of investment opportunities there.
Al Gahtani: The availability of bases for investment
The CEO of Mada Properties, Mr. Abdullah Abdulaziz Al Gahtani, pointed out that the stable infrastructure and firm bases in the old quarters are the core reason for this current investment tendency. Moreover, since the price per a square meter is significantly cheaper than the new quarters, this creates the opportunity for larger investment profits.