I am a young man from Dammam, the capital of the Eastern Province of Saudi Arabia. We are best known as the region of the world with the greatest petroleum wealth. For numerous and complex reasons, I want to devote my life to investing that oil wealth in real estate, seeking sustainable growth and investment for my people and the world.
I have been living in Southern California now for over one year. I feel most at home; and, most importantly, I have had an opportunity to prepare myself well for undertaking graduate study in the English language. Since my undergraduate degree is in Architecture and my heart and passion lies in the business world, everything having to do with real estate, I am a strong candidate for your program, and I will be able to excel because of my great determination. Saudi Arabia’s real estate market is especially volatile, and I hope to write and eventually publish a comprehensive case study of the way in which the Saudi Arabian real estate market has responded and rebounded from a series of boom-and-bust cycles over the last several decades.
Since petroleum is not a renewable energy source, Saudi Arabia needs to make a heroic effort to invest its petroleum wealth in sustainable ways. I hope to contribute to this process as a real estate professional; helping Saudi Arabia to invest in new, cleaner, and more sustainable technologies before the oil supply either runs out or becomes obsolete. This will require great strides in the development of new communication and business infrastructure, however, in addition to vast improvements in our educational system. In many important ways, Saudi Arabia is a Developing or Third World country in terms of communications infrastructure and improving this will be instrumental to maximizing the potential of our real estate market. This is why I am asking for admission to your distinguished program, so that I might prepare myself as fully as possible for the great task at hand, bringing Saudi Arabia up to First World standards in terms of its real estate marketing potential, helping us to stay economically competitive over the long term.
I have been attracted to buildings, architecture, and urban development since I was a child, especially to the tallest and newest buildings. Even though my country is one of the richest countries in the Middle East, my city, Dammam, like several other cities in Saudi Arabia, has kept a low profile in terms of real estate development. Frankly, I feel strongly that we could do much better in the future in terms of 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, one of the pioneers in real estate marketing in the Middle East, I have developed an in-depth understanding of architecture in commercial, residential, and industrial projects. I have also learned a great deal about real estate policies and finances in general. The Master of Real Estate Development Program is the program that is the best fit for my professional interests.
Until recently, only Saudi citizens could own land, and foreigners were unable to invest in our real estate market without a Saudi sponsor. This served to stifle progress and our integration into the global economy. Once this restriction was lifted a few years ago, however, our population began to rapidly increase in size and our real estate market has been booming ever since. At this point, there is an acute shortage of developed residential properties. The fact that we arrived so late to the global real estate market has left us weak in and underdeveloped in terms of both infrastructure and urban development. Often, Saudis and non-Saudi investors joined together and make highly lucrative investments. I hope to participate in these ventures while I promote investments in public as well as private space, bringing artistic creativity to the process in a way that is sustainable for the environment. I spent three years with XXXX Real Estate Company, and I have realized that most Real Estate developers in Saudi Arabia either do not have an architectural and urban planning background, nor are they well informed concerning real estate policies and law.
Consequently, I am applying for the University of XXXX because it offers the Real Estate Development program (MRED), which I see as the best program to support and enhance my knowledge, especially concerning the financial and public policy aspects of real estate development. I believe that my background and professional experience will help to enable me to excel in your rigorous program.
I have also chosen UXX because it is in Southern California, and I feel at home here now, like a citizen, and a member of this society, even though, I am a foreigner who came here for educational purposes. I am very attracted to the multicultural environment of California and UXX. California itself is a wonderful lesson in land development, particularly with respect to public space.
After I worked for XXXX Real Estate Development Company, the University of Dammam (UOD) elected me to be one of the faculty members and work in the academic field. Also, they offered me a full Scholarship for Master and PhD degrees. My perspective in Real Estate Development and urban planning is more drawn to two approaches. First, to establish a new program in UOD that teaches the principal of Real Estate development under the supervision of the Architecture College. The aim of this program is to provide students with the ability and creativity of understanding the principals of Real Estate Development not only the architectural and construction aspects, but also in terms of finance and public policy. My foremost dream is to establish a research center that would help to raise the country's level of awareness of the strategic importance of our real estate resources.
I thank you for considering my application to your program.
Masters Real Estate Development Personal Statement
Comments