Al-Masar Group General Manager Saud Murad during the interview. — Photo by Yasser Al-Zayyat

KUWAIT: General Manager of Al-Masar Group Saud Murad told Kuwait Times that the many real estate exhibitions that are taking place in the local market is a healthy phenomenon. The exhibitions give investors the opportunity to learn about real estate market prices and choose the best with more transparency and credibility.

During the interview, Murad stressed that the increasing number of participants in the exhibitions is a sign of success and shows the true reflection of the high purchasing power in the Kuwaiti real estate market, and the confirmation of the passion of Kuwaiti citizens to purchase properties both domestically and in various countries around the world.

Murad is the founder and GM of Al-Masar Group, specialized in organizing real estate exhibitions and conferences, an ex-member of the housing consulting committee and an expert in real estate in both local and regional markets. He writes a weekly article about the latest issues and updates in the industry.

Kuwait Times: Tell us more about Al-Masar Group?

Saud Murad: Al-Masar was established in 2003. We are a specialized company organizing exhibitions and events, mainly in the real estate sector. We have experience of organizing around 14 events in real estate during the past 13 years. We faced many business cycles during this time, and see new challenges in 2016. We also provide integrated solutions in consultancy, training and the media sector.

KT: What makes Al-Masar Group different from other companies?

Murad: Al-Masar is a leading company - it is special in its creativity and how it tackles real estate from different angles and provides different uses. We try to be more specific and spend more efforts in defining and targeting the audience - we try to have a system in selecting participating companies in order to provide the market with the best companies in this field.

KT: Why do real estate exhibitions need organizing?

Murad: Since you are bringing the companies in one place, there should be consistency and integration in order to deliver a message to the investor. An exhibition or show provides an advantage to investors - they can compare the opportunities, see what's the latest in the market, get special offers and discounts, check the prices between competitors and compare services rather than only visiting one company. If we do not organize real estate exhibitions, there would be no vehicle for measurement for investors and visitors.

KT: There are a lot of real estate exhibitions in Kuwait. Do you think they have a positive or negative effect in the Kuwaiti market?

Murad: It is somehow good and bad. The bad thing about it is that some companies can be a loss for investors if they do not study the situation. But after a while the investor will be more cautious when he sees that there is no income from his real estate.

The good thing about it is that there is a variety and more opportunity. An exhibition will provide a rich opportunity for investment for a large segment of the society. It aims to promote and define the direct foreign investment law in attracting foreign investors to invest in Kuwait.

For example, there are a lot of shopping malls in Kuwait. Does Kuwait need them all? Yes, we need them because if we had one mall, then it would monopolize the market and we will be at their mercy.

KT: Do you think that the organizing companies' prices are compatible with the services provided?

Murad: Some of them, yes, but others cannot provide basic services. If you are going to organize a real estate exhibition, you need basic services such as a media and advertising campaign, logistics services inside the exhibition in term of registration, surveys, questionnaire at the reception and follow-up with visitors and companies, food and drinks inside the exhibition, and 24-hour standby for any problem.

KT: What does Kuwait need to be more successful in organizing international exhibitions?

Murad: Kuwait is not ready for international exhibitions, as it does not have a larger place to receive, for example 3,000 visitors, from all over the world in one exhibition. And no one will pay for transportation. The major issue is the visa - Kuwait does not welcome all nationalities, but only selected ones.

The solution is that Kuwait must apply the development plan and focus on what it needs and where is it going. If you do not have an aim or goal, so it fine not knowing where you are going. But Kuwait needs to benefit from international exhibitions because they bring money from outside.

KT: What is your next exhibition?

Murad: Our next exhibition is on businesswomen - we are targeting women in real estate, investment and finance, because women are the center of the society and family and there are no special offers or packages for them. So we need to provide them services to become better.

KT: What are your future plans?

Murad: In 2016, we preparing to provide new conferences of international standards to tackle sensitive issues and are waiting for the approvals.

By Faten Omar