The Real Estate Future Forum 2024 wrapped up its three-day sessions in Riyadh, with over 50 agreements and memoranda of understanding (MoUs) valued at more than SAR 100 billion being signed during the event. The forum, attended by 300 speakers from 85 countries, brought together government officials, private-sector representatives, economists, investors, decision-makers, and real estate experts at both local and international levels. Focused on the theme “The Power of Resilience: Building a Sustainable and Prosperous Real Estate Future,” the event delved into innovative solutions, challenges, emerging trends, and sustainable financing within the real estate sector.
Featuring more than 30 dialogue sessions and 25 workshops, the forum addressed critical strategic topics, accompanied by a real estate exhibition showcasing the latest technologies and financing solutions. Inaugurating the forum, Minister of Municipal, Rural Affairs, and Housing Majid bin Abdullah Al-Hogail underscored the real estate sector’s importance in the Saudi economy, emphasizing its impact on human life, family stability, and the provision of quality living.
Governor of the Asir Region, Prince Turki bin Talal bin Abdulaziz, highlighted the alignment of the Kingdom’s Vision 2030 with the diversification of income sources across regions, emphasizing the identification and utilization of comparative advantages for regional development.
During a dialogue session titled “Leading Transformation in Decision-Making,” Minister of Justice Dr. Walid bin Muhammad Al-Samaani announced the implementation of a real estate identity for inheritances, aiming to enhance efficiency and eliminate duplication. Minister of Tourism Ahmed bin Aqeel Al-Khateeb discussed the Kingdom’s expansion in implementing major projects to develop the tourism sector and attract investments, aiming to receive 150 million visitors by 2030.
Minister of Human Resources and Social Development Engineer Ahmad bin Sulaiman Al-Rajhi emphasized collaboration between the government and private sectors to create economic and job opportunities, leading to a significant increase in Saudi employment in the private sector.
The forum included the launch of the “Professional Volunteering” initiative in real estate by the Ministry of Municipal, Rural Affairs, and Housing in partnership with the National Center for the Development of the Non-Profit Sector. This initiative aims to support youth development and promote volunteer work in the non-profit sector.
The third annual Real Estate Future Forum tackled various key issues related to the real estate sector, discussing global best practices, the latest technologies, sustainable development, financing solutions, and the impact of natural factors on the industry. The forum received positive feedback for its success in attracting investors, speakers, and facilitating real estate agreements and MoUs. The organizers affirmed the forum’s continuation in the coming years.
