Riyadh, November 17, 2024 – The final day of Cityscape Global 2024 at the Riyadh Exhibition and Convention Center in Malham has continued to draw enthusiastic crowds, showcasing groundbreaking innovations in the real estate sector. The event, recognized as the world’s largest real estate gathering, has captivated attendees with its cutting-edge housing trends and transformative technologies that promise to reshape urban development.
The Technology Theater has been a focal point, offering visitors a glimpse into advanced innovations powered by artificial intelligence (AI). These technologies enhance customer experiences, streamline the planning and execution of housing projects, and promote sustainability in urban design, aligning with global aspirations for smarter cities.
The Real Estate General Authority (REGA) has emerged as one of the highlights of the event, presenting an array of forward-thinking exhibits. Visitors to REGA’s pavilion have explored modern residential community trends and initiatives aimed at creating more human-centric cities. The authority’s showcase reflects Saudi Arabia’s commitment to fostering a sustainable and inclusive future through real estate advancements.
The pavilion features cutting-edge property technologies (PropTech), including AI tools, real estate data analytics, and virtual property platforms, aimed at improving planning, management, and marketing processes. It also highlights REGA’s role in governance and regulation, showcasing the issuance of over 20 regulations designed to enhance market reliability and the licensing of 57 electronic platforms to ensure credibility in real estate advertisements.
More than 2 million real estate units have been registered, contributing to the protection of ownership rights and the documentation of transactions. Over 11 million lease agreements have been recorded through the EJAR network, while more than 60,000 licenses have been issued to brokers to strengthen the quality of transactions. Additionally, the authority has approved over 77,000 off-plan units across 140 projects valued at more than SAR 100 billion.
Cityscape Global 2024, which ran from November 11 to 14, was organized under the patronage of the Ministry of Municipalities and Housing in collaboration with REGA and the Housing Program, a key initiative of Vision 2030. The event was managed by Tahaluf, a partnership between the Saudi Federation for Cybersecurity, Programming, and Drones (SAFCSP), the Events Investment Fund (EIF), and international organizer Informa PLC.
Since the start of 2024, real estate transactions in Saudi Arabia have exceeded SAR 630 billion, reinforcing the Kingdom’s position as a global leader in real estate development. Through initiatives like Cityscape Global, Saudi Arabia continues to attract international attention and investment, advancing its Vision 2030 objectives of sustainability, innovation, and economic diversification.