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Field of dreams
A forecast of six real estate trends in Saudi Arabia for 2011 reminds Kipp of a Kevin Costner where unknown forces urged him to build a baseball field that will attract other-worldly players.
March 28, 2011 4:38 by Precious de Leon
“Build it and they will come…” These are the words that kept going through Kevin Costner’s farmer/father/frustrated baseball player character, which prompted him to build a the diamond field that invited long-dead baseball legends to play one last game in his backyard.
It’s one of the most recognisable lines in Hollywood—famous enough to be spoofed on several TV shows and movies (Anyone remember Wayne’s World 2’s “Book them and they will come” spiel?).
These same six words (in Field of Dreams, not Wayne’s World 2) reverberate throughout Jones Lang Lasalle’s (JLS) Top Trends for Saudi Arabia’s Real Estate in 2011, released yesterday.
In it, the real estate investment and advisory firm said more civil projects and infrastructure investment that are integrating the whole of Saudi Arabia are for increased investment and attractiveness of the market.
Basically, it’s about building the proper city and business infrastructure to make the country attractive for investment.
The study further underlines government leadership as the main catalyst for growth in the Kingdom’s real estate market, as the country remains stable amid regional turmoil.
“Recent initiatives outlined in the stimulus package, illustrate the strong leadership role of the government, which will act as a catalyst for real estate. Importantly, these initiatives offer an excellent opportunity to achieve critical social goals, like job growth and community building,” Soraka Al Khatib, Co-Head of KSA in JLS’ Jeddah office, said in a statement.