MS Real Estate Development Personal Statement Saudi

Masters Real Estate Development Personal Statement

I am a young man from Dammam, the capital of Saudi Arabia's Eastern Province, renowned for its immense petroleum wealth. For various complex reasons, I aspire to dedicate my life to channeling this oil wealth into real estate, aiming for sustainable growth and investment for my people and the world.

I have been residing in Southern California for over a year. I feel at home here, and importantly, I have had the chance to prepare myself thoroughly for graduate studies in English. With an undergraduate degree in Architecture and a passion for business, especially real estate, I am a strong candidate for your program. My determination will enable me to excel. The real estate market in Saudi Arabia is notably volatile, and I aim to write and eventually publish a comprehensive case study on how it has responded and rebounded from a series of boom-and-bust cycles over recent decades.

Given that petroleum is not a renewable resource, Saudi Arabia must make a concerted effort to invest its oil wealth sustainably. I hope to contribute to this process as a real estate professional, assisting Saudi Arabia in investing in new, cleaner, and more sustainable technologies before the oil supply is depleted or becomes obsolete. This will necessitate significant advances in communication and business infrastructure, along with substantial improvements in our educational system. In many crucial ways, Saudi Arabia remains a Developing or Third World country in terms of communications infrastructure, and improving this will be key to maximizing our real estate market's potential. This is why I seek admission to your esteemed program, to prepare myself as fully as possible for the vital task of elevating Saudi Arabia to First World standards in real estate marketing potential, ensuring long-term economic competitiveness.

Since childhood, I have been fascinated by buildings, architecture, and urban development, particularly the tallest and newest structures. Although my country is among the wealthiest in the Middle East, my city, Dammam, like several others in Saudi Arabia, has maintained a low profile in real estate development. I strongly believe we can significantly improve in urban development, especially in sustainable and environmentally friendly ways.

In 2008, I graduated with a bachelor's degree in architecture from King Faisal University. As an Architect with XXXX Real Estate Companies, a pioneer in Middle Eastern real estate marketing, I have gained a deep understanding of architecture in commercial, residential, and industrial projects. I've also learned extensively about real estate policies and finances. The Master of Real Estate Development Program aligns perfectly with my professional interests.

Until recently, only Saudi citizens could own land, and foreigners needed a Saudi sponsor to invest in our real estate market. This hindered progress and our integration into the global economy. Once this restriction was lifted a few years ago, our population rapidly grew, and our real estate market has been booming. Currently, there is a significant shortage of developed residential properties. Our late entry into the global real estate market has left us weak and underdeveloped in terms of infrastructure and urban development. Often, Saudis and non-Saudi investors collaborate on highly lucrative investments. I aim to engage in these ventures while promoting investments in both public and private spaces, bringing artistic creativity to the process in an environmentally sustainable manner. During my three years with XXXX Real Estate Company, I realized that most Real Estate developers in Saudi Arabia lack an architectural and urban planning background and are not well-versed in real estate policies and law.

Therefore, I am applying to the University of XXXX because it offers the Real Estate Development program (MRED), which I see as the best fit to support and enhance my knowledge, particularly in the financial and public policy aspects of real estate development. I am confident that my background and professional experience will enable me to excel in your rigorous program.

I have also chosen UXX because it is in Southern California, where I feel at home, like a citizen and a member of this society, even as a foreigner here for educational purposes. I am very attracted to the multicultural environment of California and UXX. California itself offers valuable lessons in land development, especially regarding public spaces.

After my tenure with XXXX Real Estate Development Company, the University of Dammam (UOD) selected me as a faculty member to work in academia. They also offered me a full scholarship for Master's and PhD degrees. My perspective on Real Estate Development and urban planning is focused on two approaches. First, to establish a new program at UOD that teaches the principles of Real Estate development under the Architecture College's supervision. The aim is to equip students with the skills and creativity to understand Real Estate Development principles, not only in architecture and construction but also in finance and public policy. My ultimate dream is to establish a research center to raise the country's awareness of the strategic importance of our real estate resources.

Thank you for considering my application to your program.

MS Real Estate Development Personal Statement Saudi