Minister of Municipalities and Housing Explores Global Experiences at Cityscape 2024

Riyadh: The second day of Cityscape Global 2024 saw Municipalities and Housing Minister Majed Al-Hogail touring the event, where he reviewed innovative solutions in housing and real estate development showcased by countries worldwide. This major real-estate event is being held at the Riyadh Exhibition and Convention Center in Malham, Riyadh, and runs until November 14.

A Closer Look at Real Estate Innovation Under Vision 2030

Under the patronage of the Ministry of Municipalities and Housing and in collaboration with the Real Estate General Authority (REGA) and the Housing Program, Cityscape Global 2024 supports Saudi Vision 2030’s goals to enhance homeownership and improve quality of life. The event, managed by Tahaluf and in partnership with the Saudi Federation for Cybersecurity, Programming, and Drones, is bringing together industry leaders from around the world to showcase modern solutions in urban development and sustainable real estate.

Highlights of Minister Al-Hogail’s Visit

During his visit, Minister Al-Hogail emphasized the importance of global partnerships and learning from international experts to help advance the Saudi real estate sector. He praised the progress made in real estate services, housing solutions, and financing options available at Cityscape, which aims to strengthen Saudi Arabia’s housing market and support real-estate investment growth. Al-Hogail reiterated the country’s commitment to collaborating with both local and international developers, making Saudi Arabia a key player in the real-estate sector.

Real Estate Financing Gains Momentum

Cityscape Global has shown strong momentum in Saudi Arabia’s real estate financing, with contracts for housing support growing by 40% in just two days, while the total financing value increased by 54% compared to last month. The Real Estate Development Fund, along with various financing institutions, provides flexible financing solutions to support Saudi homeowners. Beneficiaries can take advantage of competitive offers, including a low financing profit margin of 2.59% and housing grants up to SAR 150,000.

Cityscape Global 2024 marks a significant step forward in Saudi Arabia’s real estate goals, reflecting the Kingdom’s strategic efforts in building a dynamic, investor-friendly housing market. The event underscores the importance of international collaboration in achieving sustainable urban growth aligned with Vision 2030’s objectives.

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