His Excellency the Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al-Hogail, sponsored the launch of the Global PropTech Summit, organized by the Real Estate General Authority (REGA) in Riyadh, in strategic partnership with the National Housing Company (NHC). The summit witnessed the participation of prominent figures, experts, and specialists in the real estate industry and real estate technologies, alongside international speakers representing 80 countries from around the world.
In his opening speech, His Excellency Al-Hogail emphasized the significance of the summit, which coincides with remarkable momentum across the local, regional, and international real estate sectors. He highlighted Saudi Arabia’s ambition to position Riyadh as a global hub for real estate technology, led by REGA, with the aim of advancing the sector, enhancing its regulatory framework, and developing investment opportunities. He further underscored the importance of employing real estate technologies to drive digital transformation, improve transparency, and boost operational efficiency.
His Excellency added that digital transformation is a fundamental pillar of Saudi Vision, through which the Kingdom seeks to improve quality of life and raise the efficiency of services delivered to citizens, residents, visitors, and investors. These efforts contribute to the development of the housing sector and promote innovation in urban planning and real estate development. By adopting advanced technologies such as artificial intelligence, the Internet of Things, and big data, the Kingdom aims to create smarter and more sustainable living environments. These digital advancements also open broad investment prospects—particularly in brokerage platforms, real estate services, and financing—facilitating property search and transactions for all stakeholders, enhancing market transparency, and supporting economic growth by contributing to increased GDP.
The summit’s opening featured several initiatives and agreements supporting the real estate technology sector. Among them was REGA’s launch of the Saudi PropTech Hub, established to serve as the Kingdom’s primary channel for innovation in real estate technologies. In addition, a cooperation agreement was signed between REGA and the National Technology Development Program (NTDP) to establish a strategic partnership aimed at attracting accelerators that adopt international best practices, while supporting and encouraging technology companies in the real estate sector through consultations, incentives, and business enablement.
The summit's sessions, continuing over two days, explore several vital topics, including the legislative framework for real estate technology, innovation and entrepreneurship in the future of PropTech, and the transformative power of 3D printing—from blueprints to reality. They also address the role of virtual reality and artificial intelligence in shaping the future of real estate and automating its operations and services, in addition to examining PropTech solutions for urban development and smarter decision-making to support investment growth and financial sustainability.
The summit is accompanied by a real estate technology exhibition, featuring participation from startups, innovative companies, real estate platforms, and local and international technology firms. The exhibition showcases current and next-generation real estate technology innovations, experiences, and future visions for the industry amid rapid digital transformation—further supporting the strategic objectives of the real estate sector in the Kingdom and its leadership in alignment with Saudi Vision 2030.
It is worth noting that the Global PropTech Summit coincides with the prosperity currently witnessed in the Saudi real estate market, which increasingly demands innovative solutions to meet the needs of rapid population growth, smart city initiatives, and the ambitious development projects underway across various regions of the Kingdom—projects that aim to build modern, sustainable urban communities.