RIYADH: Saudi Arabia’s real estate sector continued to demonstrate strong momentum at Cityscape Global 2025, with the Riyadh exhibition generating a number of new deals and partnerships across the industry.
Held under the theme “The Future of Urban Living,” the event is sponsored by the Ministry of Municipalities and Housing in partnership with the Real Estate General Authority, Vision 2030 and the Housing Program.
The event kicked off on Nov. 17 with several major announcements, as Majid Al-Hogail, Saudi Arabia’s minister of municipal and rural affairs and housing, said real estate agreements had exceeded SR161.2 billion ($42.3 billion), reflecting the sustained expansion of the Kingdom’s property market.
Building a robust real estate infrastructure is a key objective of Saudi Arabia’s Vision 2030 economic diversification program, as the Kingdom continues to strengthen its position as a regional hub for business and tourism.
The Real Estate General Authority projects the market to reach $101.62 billion by 2029, with an expected compound annual growth rate of 8 percent from 2024.
Promoting digital transformation
During the exhibition, National Housing Co. signed a memorandum of understanding with Elm Co. to develop an integrated system of digital and smart solutions across its urban destinations, Saudi Press Agency reported.
The agreement aims to enhance the urban landscape at NHC projects through environmental pollution solutions, smart gates, community monitoring systems, smart irrigation, smart lighting, and waste management technologies.
It also includes developing digital platforms to serve residents and visitors.
“The collaboration will contribute to the development of advanced digital operating models that enhance sustainability and enhance the quality of life in NHC destinations, using smart lights, motion sensors and thermostats,” reported SPA.
The agency added that the agreement extends NHC’s efforts to build an integrated digital ecosystem within its destinations and to consolidate its role in leading technological transformation in Saudi Arabia’s real estate sector.
Elevating Saudization
The Ministry of Municipalities and Housing signed a memorandum of cooperation with Jahez International Co. for Information Systems Technology to increase the participation of Saudi youth in the labor market.
According to SPA, the agreement aims to expand youth engagement through initiatives focused on training, employment and entrepreneurship across municipal-sector fields.
Aligned with the National Transformation Program and Vision 2030, the MoU includes activating joint initiatives to qualify and employ Saudi talent, as well as launching specialized training and entrepreneurship programs.
“The MoU stipulates the formation of joint work teams to follow up on the implementation of initiatives and review their outputs periodically, in order to ensure a sustainable impact in supporting Saudization,” SPA added.
During the event, the ministry also signed an MoU with Al-Bawani Co. Limited to support localization and develop human capabilities in the contracting sector. The agreement outlines training and qualification programs targeting Saudi youth in engineering, construction and operational management.
Under the MoU, the ministry and Al-Bawani will identify job opportunities, implement a Saudization plan with quarterly reviews, and coordinate with relevant bodies to provide training support and incentives.
The deal further includes programs to raise the skills of Saudi workers at municipal and construction project sites, helping reduce unemployment and expand youth participation in the labor market.
“This MoU comes as part of the initiatives of the Ministry of Municipalities and Housing to enhance partnerships with major national companies, and activate Saudization programs in the municipal and urban sector, in a way that contributes to building a competitive and stimulating work environment that achieves sustainable development and quality of life in the Kingdom’s cities,” said SPA.
Supporting non-profit sector
The Ministry of Municipalities and Housing also signed an MoU with the General Authority of Awqaf, the Kingdom’s Charitable Endowment Foundation, to support the development of the non-profit sector.
The agreement aims to empower non-profit organizations to participate in community initiatives and programs that improve quality of life and support the goals of Vision 2030.
“The MoU included coordinating efforts to launch joint initiatives that contribute to supporting municipal and housing non-profit organizations, by providing the necessary tools to raise the efficiency of community work,” added SPA.
