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Saudi real estate sector secures $48 billion in strategic deals at Cityscape Global
Saudi Arabia's real estate sector recorded transactions worth $168 billion this year so far.
Saudi Arabia’s thriving real estate market took center stage at the second edition of Cityscape Global 2024, with the kingdom’s real estate sector recording transactions worth $168 billion this year.
Minister of Municipalities and Housing Majed Al Hogail officially opened the event, the world’s largest real estate event, under the theme “The Future of Living.” Senior government officials, companies, real estate developers, and financial institutions participated in the inauguration.
During the event, Minister Al Hogail unveiled strategic projects and agreements valued at $48 billion, a 50% increase from last year’s edition.
“It is indicative of the accelerated growth of the Saudi real estate sector, which the leadership’s support has facilitated. This support has contributed to establishing an attractive real estate investment environment, essential for developing a sustainable future in the real estate sector,” he stated.
This year’s Cityscape Global witnessed a surge in participation, with over 100 local developers and 69 international developers showcasing their latest projects.
It also featured the Real Estate Investors Forum, which brought together 150 investors from 22 countries to explore investment opportunities and partnerships.
The four-day event, held at the Riyadh Exhibition and Convention Centre in Malham, is organized by the Ministry of Municipalities and Housing in partnership with the Real Estate General Authority and the Housing Program, a key pillar of Saudi Vision 2030.
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