According to the latest statistics show that Saudi real estate sector contributes about 55 billion riyals in the GDP data also indicate a plan of development to this sector is ranked second in the national economy after the oil sector, has increased the gross domestic product for the real estate sector by 50 per cent during the period from 1999 to 2008, at a rate of 5 per cent average annual growth rate is estimated the sector's contribution in GDP by about 7.2 per cent during 2009, and indicators show that the volume of investments in real estate sector will exceed 82 billion riyals during the next three years is expected to reach the money invested in real estate construction of new until 2020 to about 484 billion Saudi riyals.

The magnitude of investment in real estate sector and its economic, social and diversity of the competent authorities in the Kingdom requires the establishment of a supreme body for the real estate similar to bodies other high-level and the importance of the establishment of a supreme body of the property for uniting the efforts of relevant government agencies organized a real estate investment would be responsible for the preparation of investment programs sustainable, would develop the real estate sector in the Kingdom and thus supporting the overall economy of the Kingdom, as well as to highlight the current picture of the reality of the real estate sector and the development of new mechanisms for the development of real estate investment projects in addition to the delivery of a vision of investors and real estate professionals to decision-makers to help to work in the issuance of the development of regulations for this sector and in particular systems, the real estate finance and mortgage Real Estate and regulations that protect real estate investments in general and be a center of the sector, are also desperately needed to find a regulatory environment helps the growth of the real estate sector through the creation of a single source for information, systems and conditions of construction instead of dispersing efforts and money and time to review more than one and the creation of a national policy-oriented real estate development, and the urgent need to develop controls for high land prices, through the imposition of fees on vacant lands and the provision of schemes granted within or adjacent to the cities is inclusive of all services, as well as coordination between municipalities and other entities as well as the need to work on mainstream systems Special construction.

The real estate market of more promising areas of growth and development and the real estate industry is one of the most influential sectors in the growth of many sectors related to this industry, which starts from the engineering offices to the manufacture of construction materials and transport as well as the social role of the vital goal in housing and employment.

The factors affecting positive in the real estate sector, including high percentages of population growth in the UK confirm the existence of a real demand now and in the future for real estate in the years to come knowing that the kingdom has the lowest world to own residential units, which means in the event of the improved economic situation or the adoption of long-term loans for the purchase of real estate occurrence of a major breakthrough in this vital sector as well as the structure of real estate infrastructure in most Saudi cities are old and almost obsolete, which means the need for a tributary of the request for future work.

As the real estate sector in the Kingdom of affecting the largest number of actors, including municipalities and the Ministry of Trade and Industry through the laws of importing building materials and permits to companies and trade associations materials and permits to contractors, in addition to the Ministry of Justice on the instruments and Alifragat and the Ministry of Finance in the development of fees and Real Estate Development Fund, and given the importance of This sector of economic, social and interfere with all segments of society directly, it is time to regulate this sector through the establishment of a supreme body of the property holds all its affairs.

Dr. Badr Albusaies - Monday 13 Rabi II 1431 H