The 42nd Global Real Estate Leaders Summit of the International Real Estate Federation (FIABCI Global Leadership Summit), which Riyadh is set to host in December 2023, will spotlight the latest developments in the real estate sector both locally and globally. The summit will feature wide-ranging participation from real estate decision-makers and leaders at local, regional, and international levels.
Held under the support and patronage of the Real Estate General Authority (REGA), the summit aligns with the dynamic momentum currently seen in the real estate sector at both national and global scales. It will serve as a key platform to showcase the Kingdom's prominent role in the sector. The event will welcome an elite group of real estate developers, investors, and FIABCI members, along with numerous international speakers representing over (110) countries, who will contribute to the discussions by sharing their experiences and insights from across the global real estate landscape.
The summit also represents a significant milestone for highlighting the accomplishments and advancements of the Kingdom’s real estate and housing system, particularly in terms of modernizing real estate legislation and adopting cutting-edge digital technologies. These advancements have played a pivotal role in organizing the sector and attracting high-quality real estate investments from both local and international markets.
His Excellency Engineer Abdullah bin Saud Al-Hammad, Chief Executive Officer of REGA, emphasized that hosting the Global Real Estate Leaders Summit in Riyadh offers a valuable opportunity to present the Kingdom’s successful real estate model and the significant progress achieved, particularly in updating and advancing real estate legislation. These achievements are aligned with the strategic goals outlined in Saudi Vision 2030. He also noted REGA’s active participation in the summit’s sessions and discussions to share the Kingdom’s journey in this vital sector, including its challenges and promising opportunities.
Al-Hammad stated: “Hosting the Global Real Estate Leaders Summit in Riyadh this December reflects the importance of the real estate sector as a core driver of development and a major attraction for investment. The sector plays a critical role in the Kingdom’s GDP and is a key source of employment opportunities for Saudi men and women.”
He concluded by noting that, according to recent forecasts, the size of the real estate market in the Kingdom is expected to grow from over (SAR 241 billion) in 2023 to more than (SAR 353 billion) by 2028, with an average annual growth rate of (7.89%) over this period.
It is worth noting that the 42nd Global Real Estate Leaders Summit will feature broad participation from leading real estate figures, developers, and investors from both local and international markets. FIABCI members and speakers from more than (110) countries, speaking over (55) languages, will take part in the event through specialized panels, dialogues, and workshops. Discussions will cover the development of real estate systems and enablers across various global and regional markets, while showcasing both local and international experiences and best practices to support the advancement of the real estate industry in all its dimensions.