The Real Estate General Authority (REGA) concluded its participation in the second edition of the Cityscape Global Exhibition 2024, held from 11–14 November at the Riyadh Exhibition and Convention Center - Malham, Riyadh. The event was held under the theme “Future of Life” and was sponsored by the Ministry of Municipalities and Housing, in partnership with REGA and the Housing Program—one of the initiatives of Saudi Vision 2030. The exhibition featured participation from over 400 exhibiting entities, including some of the largest and most prominent global and local companies in real estate investment and development, more than 100 institutional investors, and over 500 international and local industry leaders.
REGA’s participation aimed to showcase recent developments in the Saudi real estate market, particularly the regulatory and legislative reforms that have strengthened the investment climate, facilitated foreign investment, and boosted confidence in the local market. These developments have opened new opportunities for strategic partnerships between Saudi and international real estate companies and have fostered the exchange of expertise and advanced technologies in construction and infrastructure development. The exhibition served as a vital platform for presenting innovations, exchanging experiences, and showcasing real estate technologies that contribute to expanding investment opportunities, attracting foreign investments, and supporting economic diversification and sustainable development in the Kingdom.
REGA noted that Cityscape 2024 featured a meeting between REGA’s Chief Executive Officer and General Supervisor of the exhibition, Engineer Abdullah bin Saud Al-Hammad, and His Excellency Engineer Sherif El-Sherbiny, Egypt’s Minister of Housing, Utilities, and Urban Communities, along with his accompanying delegation. The meeting focused on exploring opportunities for cooperation in real estate investment between the two countries. The exhibition also witnessed the signing of several agreements and partnerships between REGA and key supporting sectors. Among the most notable was the launch of the Real Estate Developers Portal within the Real Estate Registry Platform, providing an integrated hub to facilitate developers’ operations and protect property owners' rights in off-plan sale projects. The portal enables developers to register, issue off-plan sale licenses, display sale certificates, and register titles in property owners’ names efficiently and effectively. Additionally, REGA signed a memorandum of understanding to regulate real estate contribution activities—aimed at enhancing transparency, protecting stakeholders' rights, and governing and automating the contributions process as a key financing channel for developers. This initiative is part of broader efforts to boost investor confidence in the Saudi real estate sector.
Through its exhibition pavilion, workshops, and dialogue sessions, REGA also showcased its journey toward digital and technological transformation in the real estate sector and its efforts to deliver advanced, high-quality services. It highlighted REGA’s role in promoting real estate technology and innovation through the recently launched Saudi PropTech Center, which serves stakeholders from both inside and outside the Kingdom. Moreover, REGA emphasized the significance of the Off-Plan Real Estate Projects Sale and Lease Law in enhancing competitiveness in the real estate development sector and encouraging investment by increasing the supply of real estate units.
It is worth noting that the Cityscape Global Exhibition 2024 witnessed the signing of agreements and partnerships valued at more than SAR 180 billion, and hosted the largest direct real estate auction in the Middle East, in collaboration with the Entrustment and Liquidation Center (infath), with transactions exceeding one billion riyals. The event also offered more than 100,000 housing units with exclusive deals and financing solutions to support homeownership. It provided young investors and startup founders with direct access to local and international investors and developers, allowing them to showcase their projects and ideas.