UK-Saudi Real Estate Exhibition Passes £107m

Organisers say the London exhibition attracted more than 1,450 visitors, while six new memoranda of understanding brought the two-day total to ten.

The second day turned a strong opening into a much larger story.

The UK-Saudi Real Estate Exhibition recorded a further £41.9 million in property sales and reservations on Monday, 3 August, taking its two-day total beyond £107.6 million, according to figures supplied by the organisers.

The figures represent the combined value of property sales and reservations, rather than completed sales alone. Even with that distinction, the total reflects considerable interest in the Saudi property opportunities being presented to investors and prospective buyers in London.

Another 550 people visited the exhibition on Monday, bringing reported attendance to more than 1,450 across the first two days. The event is being held at The Chancery Rosewood in Grosvenor Square and concludes on Tuesday, 4 August.

Mufti Menk Explores Developments in Medina

Among the prominent visitors on the second day was Sheikh Ismail Menk, widely known as Mufti Menk.

He toured the exhibition floor and met participating developers to learn about new projects in Medina, including developments located near the Prophet’s Mosque. Medina is commonly used by international English-language audiences, while Madinah is the official spelling generally used in Saudi Arabia.

His visit placed particular attention on one of the areas attracting interest at the exhibition: the development of residential, hospitality and mixed-use projects in and around Saudi Arabia’s religious destinations.

From Day 2

Six Agreements Signed in One Day

Activity on the second day extended beyond property reservations. Six memoranda of understanding were signed between companies working across property development, investment, finance and legal services:

• AKFA Holding and International Investment Gate
• AKFA Holding and Oluo Real Estate
• AKFA Holding and Whitehall Lending
• Amazing Will and Tahqiq Al Amal
• International Investment Gate and Wuthqa
• Sama Real Estate and Druces LLP

The six agreements brought the exhibition’s two-day total to ten memoranda of understanding. Organisers said that 13 were signed during the entire previous edition of the event.

Memoranda of understanding are not the same as final commercial contracts. They nevertheless provide an indication of the partnerships being explored and the range of businesses seeking to work across the British and Saudi markets.

From Property Interest to Business Partnerships

International Investment Gate (IIG), the company organising the exhibition, has positioned the event as more than a display of available properties.

The exhibition brings developers and potential buyers together with investors, financial specialists, legal advisers and other service providers involved at different stages of a cross-border property transaction.

From Day 2

Dr Mohammed AlSwaidan, chief executive of IIG, said:

“Day one was about scale. Day two was about depth: six partnerships signed in a single afternoon, spanning development, finance and legal services across both markets. And to welcome Mufti Menk to the floor, learning about what is being built in Madinah, captured what this exhibition represents for so many of our visitors. Tuesday is the final day, and the doors are open.”

For prospective buyers, the exhibition offers an opportunity to compare projects and speak directly with developers. It also provides a setting in which visitors can ask practical questions about foreign ownership, reservation terms, payment schedules, legal documentation and the status of individual developments.

Interest generated at an exhibition should still be followed by independent legal, financial and property due diligence before any purchase is completed.

The Final Day in London

The UK-Saudi Real Estate Exhibition concludes on Tuesday, 4 August, and will be open from midday until 8 p.m. Admission is free, subject to advance registration.

After two days, more than 1,450 visitors and a reported £107.6 million in property sales and reservations, the final day will show whether the exhibition can carry its momentum through to the close.

Read also: UK-Saudi Real Estate Exhibition Reports £65.7m on Opening Day