Real Estate Future Forum Kicks off in Riyadh, Witnesses Signing Agreements worth over SAR 10 Billion
Minister of Municipal and Rural Affairs and Housing Majed bin Abdullah Al-Hogail today inaugurated the second edition of the Real Estate Future Forum, in the presence of Prince Dr. Faisal bin Mishaal bin Saud bin Abdulaziz, Governor of Al-Qassim Region, Prince Saud bin Talal bin Badr bin Saud, Al-Ahsa Governor, and several ministers and senior officials from various public and private sector institutions.
During the event, Al-Hogail delivered a speech welcoming the princes, ministers, specialists, and those interested in real estate, stating that the real estate sector enjoys unlimited support from the wise leadership for its being one of the pillars of the national economy, where the state is keen to organize and develop the sector, improve supervision mechanisms, raise its efficiency and encourage investment in it, and enable it to increase its contribution to the GDP. The minister said that the Real Estate Future Forum is held in conjunction with the launch of the real estate brokerage bylaw, which is one of the most important enablers for the development and governance of the real estate sector, digitizing its operations and serving beneficiaries, so that the real estate sector in the Kingdom can be vital and attractive and be able to stimulate investment for enjoying reliability and transparency in all real estate activities.
He said that the forum this year deals with 10 strategic areas, the most important of which are: the role of regions, governorates, ministries and secretariats in harmonizing the empowerment of the real estate sector; regional efforts and their impact on the growth of the real estate sector in the region; the future of real estate investment; real estate regulations between implementation and oversight; and the private sector between regulations and empowerment in the real estate sector; noting that the forum invited more than 150 speakers from the Kingdom and abroad, and is accompanied by an exhibition of 60 participating pavilions.
Also, Prince Dr. Faisal bin Mishaal bin Saud bin Abdulaziz, Governor of Al-Qassim Region, and Al-Hogail witnessed the signing of cooperation memorandums and agreements worth more than SAR 10 billion in the field of real estate development and construction techniques, and the establishment of four investment funds to develop commercial, tourism and residential projects.
Al-Hogail has also inaugurated the exhibition accompanying the second edition of the forum. The second edition of the three-day forum is held with the participation of more than 30 countries and 100 speakers representing the public and private sectors, along with the participation of elite economists, investors, decision-makers, and experts in the real estate sector system, locally and globally. The forum includes several sessions and workshops that will discuss several aspects covering the present and future of real estate.