A1SaudiArabia.com

JEDDAH – Afdal Al-Manazel Trading Company Limited, an affiliate of Strata Investment Group and the exclusive franchisee of Better Homes, the region leading property services company which operates in the Middle East, opened its headquarters in Jeddah on Wednesday in the light of the increasing demand on properties in the Kingdom.

One industry study said earlier that in value terms, the housing sector comprises 75 percent of all real estate activity in the Kingdom. And SR75 billion per annum will be required to meet annual housing demand in the Kingdom through 2020.

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JEDDAH: Even as the Saudi real estate sector is keenly awaiting the implementation of mortgage law, real estate brokerage firms have started coming in offering services that buyers and sellers are familiar with in the Western world. One of the latest such companies is Dubai-based Better Homes, which opened its first Saudi office in Jeddah on Tuesday night.

Business brokers, also called business transfer agents, or intermediaries, assist buyers and sellers of real estate or privately held small business in the buying and selling process. They typically estimate the value of the property, advertise it for sale or rent with or without disclosing its identity, handle the initial potential buyer interviews, discussions, and negotiations with prospective buyers, and facilitate the progress of the due diligence investigation and generally assist with the transaction.

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