On the sidelines of the second edition of the Cityscape Global Exhibition 2024, the Chief Executive Officer of the Real Estate General Authority (REGA), Engineer Abdullah bin Saud Al-Hammad, met with His Excellency Engineer Sherif El-Sherbiny, Minister of Housing, Utilities and Urban Communities of the Arab Republic of Egypt, along with his accompanying delegation.
Engineer Al-Hammad affirmed the strength of Saudi-Egyptian relations, which are built on deep-rooted historical and fraternal foundations that support mutual interests in the region—foremost among them, economic partnership. He emphasized that these ties span decades of close cooperation, with mutual trade and investment—particularly in the real estate sector—playing a key role in the growth and development of bilateral relations at both the regional and international levels.
He noted that this real estate investment partnership is further strengthened by the shared governmental orientation toward economic reform. Both Saudi Arabia and Egypt have adopted flexible economic policies aimed at stimulating foreign investment, improving the business environment, offering investor-friendly incentives, and protecting mutual investments between the two countries.
Al-Hammad highlighted that the urban development movement in Saudi Arabia continues with unwavering momentum, focusing on building smart and sustainable cities through innovative solutions to urban challenges. He stated that the current climate offers substantial opportunities for those looking to invest directly in the real estate sector or through capital formation. The Real Estate Contributions Law and the Off-Plan Real Estate Projects Sale and Lease Law represent major milestones in real estate investment, offering flexible financing and investment channels that complement real estate investment funds and provide enhanced protection for investors and their capital in the Saudi real estate sector.
It is worth noting that Cityscape Global Exhibition 2024 aims to open new avenues for cooperation and strategic partnerships between Saudi real estate companies and their global counterparts. The exhibition provides a key opportunity for exchanging expertise and cutting-edge technologies in real estate development and serves as a promising platform for investment in major real estate projects. Through direct engagement between international investors and local developers, the event aspires to help shape a clear and attractive investment journey within the Saudi real estate market.