RIYADH: Saudi Arabia’s Minister of Municipalities and Housing, and Chairman of the Board of the Real Estate General Authority, Majid Al-Hogail, sponsored the closing ceremony of Cityscape Global in Riyadh.
During the event, held at Malham in the capital Riyadh, it was announced that real estate deals had exceeded SR237 billion ($63.1 billion), with wide participation from major local and international companies.
This year’s edition witnessed a record attendance of more than 577 exhibitors, including 265 international exhibitors representing the world’s leading companies in the fields of real estate development, urban planning, modern construction, and sustainability solutions.
This reflects the Kingdom’s growing status as a global hub for attracting future real estate investments.
Al-Hogail emphasized that the results achieved by the exhibition reflect the strength of the Saudi real estate sector and the development of its investment environment.
He explained that achieving over SR237 billion in deals during the exhibition days confirms the reliability and attractiveness of the Saudi real estate sector, and aligns with the Kingdom’s path in developing the sector and urban areas.
He indicated that this achievement reflects the integration of efforts between government entities and the private sector and embodies the promising opportunities provided by the Kingdom for investors from within and outside the country.
The Minister extended his thanks to the organizing bodies for the quality of preparation and organization, and to the participating government agencies that contributed to the event’s success, praising the innovative experiences and models presented by local and international companies that support the objectives of urban development and quality of life.
He also pointed to the great diversity of products exhibited this year, ranging from residential and commercial real estate development projects to products from PropTech startups that provide advanced digital solutions in asset management and urban planning, in addition to innovations in modern construction technologies.
The minister clarified that Cityscape solidifies the Kingdom’s position in the industry of future cities, explaining that the partnerships witnessed at the exhibition are an extension of the Kingdom's growing role in developing a more competitive and sustainable real estate sector.
Al-Hogail stated that work in the real estate sector proceeds according to the vision and directives of our wise leadership, which has provided full support to enable entities and the private sector to deliver everything that meets the aspirations of Saudi citizens and elevates the quality of life in cities.
