Apart from available quality capacities and privileges, Mawten operates in a distinguished economic property environment which enjoys many characteristics and provides a lot of appropriate investment opportunities coupled with high smart initiatives and quality real estate projects.
A prosperous economic environment
The Kingdom of Saudi Arabia occupies a considerable economic position. According to the World Bank’s estimates, the Kingdom is classified among the top 25 world economies and represents the biggest economy in MENA region accounting for 25% of the Arab GDP.
Real estate sector accounts for 13-14% of the total volume of national economy, while housing sector accounts for over 90% of the real estate opportunities in the Kingdom represented in 4,600,000 residential blocks, followed by commercial real estate, office real estate then industrial real estate.
The power of the real estate in the Kingdom lies in the volume of future growth of this sector coupled with the expected needs, on the one hand, and the available financing resources at the level of per capita level and the level of the financial solvency of the public and private financing portfolios, on the other hand.
In the housing field, the 9th five-year plan sought to provide 800,000 residential units, while residential needs during the next seven years are estimated at about 1,300,000 residential units with a total investment of SR 680 billion. In the area of industrial and multi purpose real estate, six industrial cities are being constructed, in addition to development of existing industrial cities and creation of industrial real estate areas within urban zones.
In the field of services and multi-purpose real estate, mega development projects in the area of higher education, the public and private university campuses, the public and private medical projects, trade services, and office and hotel property constitute great resources that accelerate growth of real estate sector over the next decades.
Alliances / Partnerships
Mawten aims at creating successful partnerships in development of real estate projects by transferring its development projects into feasible investment opportunities for its targeted customers, through various levels of partnership and through credibility and the endeavor to form successful alliances/partnerships. Accordingly, Mawten’s role varies across the various phases of the project form owner of the project to main partner or partial partner.
A great deal of the role played by Mawten lies in its capability of forming a working team owning the project and changing this team along with its role according to the changing needs of the project through its different phases and according to ambient circumstances of the project and any opportunities or secondary projects that may develop.
This policy enables Mawten to choose the most appropriate real estate development initiatives and projects and to work in parallel on several projects at one time.
Effective Executive Management
A great deal of the success of real estate development projects depends on the effective executive management of the project which combines specialized efficiency that covers all requirements of the project and performance quality represented in the management environment that enables best performance within available resources.
Some aspects of the role of the executive management in the success of a project are represented in following up completion operations according to specified plans and approve specifications within financial and time limits of the project and achieving quality standards that a project should adhere to.