"The future is bright for the real estate sector, especially in the commercial and residential sector. Some land is overvalued but in general there is a lot of potential in the real estate market, especially when you choose the right project in the right location at the right time," says Dr Mohammed A. Al-Ajlan, CEO of Ra-yek Real Estate.
"In the past, the real estate sector suffered from speculation and bad investment but that is now changing. In the past, if you bought a piece of land and kept it for a while you would see profits of 500% within ten years, without you doing anything to that land. If you have a good plot of land but do not invest. The speculation going on in terms of land and real estate is going to have to shift from just keeping a plot of land or a building to investing in that land or building. This means we have to choose the right opportunities."