His Excellency the Minister of Municipal and Rural Affairs and Housing and Chairman of the Board of Directors of the Real Estate General Authority (REGA), Mr. Majid bin Abdullah Al-Hogail, officially launched today the inaugural edition of the Saudi PropTech conference, organized by REGA over two days in the capital, Riyadh.
The conference highlights the latest advancements in real estate technology and features beneficiary success stories, dialogue sessions, and workshops with the participation of more than 25 speakers representing 20 countries from around the world. It is accompanied by a real estate technology exhibition featuring contributions from both local and international real estate and technology companies and platforms.
During the opening, Al-Hogail emphasized the significance of real estate technology in shaping the future of the sector, stating: "The importance of real estate technology and its role in advancing the future of the real estate sector provides clear indicators that we are moving in the right direction. Let us remember that Saudi Vision 2030 aspires to build a vibrant society and a thriving economy by fostering an environment for growth, generating job opportunities, nurturing talent, developing investments, and harnessing the nation’s immense potential. Real estate technologies are among the enablers through which creative and innovative citizens contribute to building a promising future. Today, Saudi PropTech has emerged to promote a culture of innovation, offer exceptional opportunities for the real estate sector’s growth, attract leading global expertise, and serve as an ongoing knowledge platform supporting real estate technology in the years to come."
Al-Hogail confirmed that the launch of Saudi PropTech represents the unveiling of the real estate sector’s vast potential, strengthening the role of the private sector and contributing to the development of real estate and infrastructure projects. REGA will continue to support real estate technology initiatives through regulatory frameworks and legislation that enable the opening of new markets, thereby contributing to the diversification of local income sources and supporting non-oil GDP growth.
For his part, REGA’s Chief Executive Officer, Engineer Abdullah bin Saud Al-Hammad, stated that REGA considers real estate technologies to be a key driver in enhancing the real estate sector’s efficiency and effectiveness. He noted that these technologies play a central role in diversifying income sources and leveraging the Kingdom’s ongoing digital transformation across various sectors. With its expansive scope, numerous projects, and growing relevance to quality of life, real estate technology represents a significant investment opportunity in the near future. Its growth is supported by national strategies for scientific research, innovation, digital transformation, information technology, and real estate legislation development. Those following the Kingdom’s major real estate projects can clearly see that real estate technology represents the future—enabling the application of sustainability standards and contributing to improved quality of life.
During the opening ceremony of Saudi PropTech, the Real Estate Technology Report was unveiled, alongside the launch of the Real Estate Indicators Platform and the Real Estate Registry Platform. The accompanying exhibition also opened, featuring more than 50 pavilions representing 25 countries, with participation from regulatory government entities, real estate and technology firms, startups in development and construction, real estate application developers, investment companies, and financing funds.