SDE Signs MOU on Collaboration with Saudi Real Estate Institute

SDE Signs MOU on Collaboration with Saudi Real Estate Institute The School of Design & Environment at NUS has signed an MOU with the Saudi Real Estate Institute(SREI) in Riyadh. This took place during the launch of the SREI by H.E. Majed Al Hogail, the Ministerof Housing of the Kingdom of Saudi Arabia, on 2 August 2017. At the event, the Minister explainedthat his Ministry has introduced new legislation and policy reforms to professionalize the real estatesector, in line with the recently adopted National Transformation Plan and Vision 2030 to guidenational development in the Kingdom. These changes to the regulatory structure necessitate theestablishment of a new institute dedicated to the field of real estate. Hence, the SREI was created tofill a critical gap by providing relevant training, professional skills and executive leadership capacitydevelopment programs currently unavailable in the Kingdom. In addition, the SREI is also expectedto conduct policy research to support real estate sector reforms and industry enablement. Theresearch unit will function as a think-tank to support the SREI’s core mission of professionaleducation and capacity building, as well as the mandate of the Ministry of Housing as needed. Due to its strong track record in the field of real estate, NUS SDE has been identified by the Ministryof Housing to be a knowledge partner of the SREI. It is envisioned that NUS SDE will play a key role insupporting the transformation and development of the real estate sector in Saudi Arabia. Even aspolicy changes are being implemented, the government of Saudi Arabia realizes the urgent need tobridge the massive gap of 1.2 million housing units in the next 7 years. This level of development isunprecedented in the Kingdom and in the entire GCC region. It will require leadership in the publicand private sectors to build a unified vision and strategy, execute partnerships, understand andadopt innovations in business models, construction technologies and community living principles,and adopt lean and efficient models to make housing affordable to Saudi citizens.

SDE Signs MOU on Collaboration with Saudi Real Estate Institute

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