Saudi Real Estate Institute and Jabal Omar Development Co ink MoU
Signed under the patronage of Saudi's housing minister, the MoU will see the organisations cooperating in fields such as training and employment
Saudi Arabian developer, Jabal Omar Development Company (JODC), has signed a memorandum of understanding (MoU) with Saudi Real Estate Institute (SREI), it has been revealed.
Signed under the patronage of Saudi's Minister of Housing Maged Al Hogail, the MoU will see the organisations cooperating in fields such as training and employment.
Yasser Bin Faisal Al Sharif, chief executive officer of JODC, and Mohammed Faisal Bin Muammar, general supervisor of SREI, signed the MoU, ConstructionWeekOnline's sister publication, ar.constructionweekonline.com reported.
Muammar noted the importance of cooperating with JODC, adding that SREI's efforts are focussed on developing training programmes for real estate companies, as well as providing academic and professional support to the beneficiaries of these specialised jobs.
The kingdom's Ministry of Housing reportedly inaugurated SREI this August.
Saudi daily Al Eqtisadiah reported that SREI was launched at a ceremony attended by Al Hogail and Muammar.
SREI is one of the initiatives launched by the Ministry of Housing, within the National Transformation Plan 2020, with cooperation from local and international partners, as well as real estate consulting firms.
According to its website, SREI will offer services such as "raising the educational level and qualifying the Saudi real estate market workforce; understanding the regulations and legislation of the Saudi real estate market; [and] developing and regulating the Saudi real estate market".
The organisation will also offer professional certifications and licenses authorised and approved by the Ministry of Housing and academic partners.
SREI's website currently lists courses aimed at owners' association management, facility management, off-sales, and building inspection professionals.
Meanwhile, SREI's partners include national government authorities – such as Technical and Vocational Training Corporation (TVTC), Small & Medium Enterprises General Authority, Job Creation Commission, and Job Creation Commission – as well as academic bodies, including the University of Cambridge's Institute for Sustainability Leadership (CISL), IE Business School, and National University of Singapore's School of Design and Environment.
TVTC was formerly known as General Organization for Technical and Vocational Training, according to Saudi Arabian General Investment Authority's website.