The first day of the Global PropTech Summit, organized by the Real Estate General Authority (REGA) in Riyadh, concluded with strong affirmation of Saudi Arabia’s pivotal role in shaping the future of real estate technology. The summit, held under the patronage of His Excellency the Minister of Municipal and Rural Affairs and Housing, Mr. Majid bin Abdullah Al-Hogail, and in strategic partnership with the National Housing Company (NHC), welcomed a distinguished group of experts, industry leaders, and international speakers from 80 countries around the world.
The event commenced with a keynote address by His Excellency Minister Al-Hogail, who welcomed the attendees and emphasized the significance of hosting the Global PropTech Summit. He noted that the summit aligns with the ongoing momentum in the local, regional, and international real estate markets and reflects Saudi Arabia’s ambition to establish Riyadh as a global hub for real estate technology. This vision is being led by REGA to advance the real estate sector, modernize its regulatory framework, create investment opportunities, and leverage real estate technologies to accelerate digital transformation and promote greater transparency and efficiency.
REGA’s Chief Executive Officer, Engineer Abdullah bin Saud Al-Hammad, affirmed that digital transformation is playing a critical and transformative role across all sectors, particularly in real estate. He emphasized that the unwavering support from the Kingdom’s leadership has positioned Saudi Arabia to achieve global leadership in digital transformation. REGA, he added, is committed to making the Saudi real estate sector a pioneer in digital transformation and competitiveness within the PropTech domain.
Engineer Mohammed bin Saleh Al-Batti, CEO of the National Housing Company, highlighted the company’s efforts in developing digital platforms in partnership with both public and private sectors. He explained that these initiatives are designed to build trust in the real estate sector, re-engineer processes, and simplify customer journeys by offering innovative, value-added services that enhance user satisfaction and meet their expectations.
Sessions on the summit’s first day covered a range of forward-looking topics, including advanced management and data analytics, the impact of emerging technologies on the future of PropTech, the latest innovations in modern construction, and the growing roles of virtual reality and artificial intelligence in automating real estate services and operations. Discussions also explored how PropTech can support urban development, smarter decision-making, investment growth, and financial sustainability. Participants emphasized the need for greater involvement from contracting firms at local, regional, and global levels and the importance of learning from global PropTech experiences to propel the real estate sector into new frontiers.
A key highlight of the summit was REGA’s launch of the Saudi PropTech Hub (SPH), established as a central platform for stakeholders and innovators in real estate technology both within and beyond the Kingdom. The Hub aims to deliver services that empower stakeholders, boost sector efficiency, and become the primary driver of real estate innovation in Saudi Arabia. The summit also witnessed the signing of several agreements aimed at attracting accelerators that apply international best practices, supporting and incentivizing real estate technology companies, offering advisory services, enabling business launch activities, and providing digital insurance services.
It is noteworthy that real estate technologies are considered key enablers of the sector’s development, enhancing operational efficiency and effectiveness, diversifying income sources, and contributing to Saudi Arabia’s broader digital transformation journey. These technologies are instrumental in achieving quality-of-life goals and opening up expansive investment opportunities, ultimately fostering vibrant and sustainable residential communities.