With broad participation from both the public and private sectors and a distinguished group of local and regional speakers, Minister of Housing Majid bin Abdullah Al-Hogail will open the fourth edition of the Saudi International Real Estate Conference “SAYERC 4” this Sunday evening. The conference is titled “The Role of the Real Estate Sector in the National Transformation Program,” organized by the National Real Estate Committee of the Council of Saudi Chambers. The two-day event will be held at the Kempinski Rafal Hotel in Riyadh.
This year’s real estate conference will address four main themes: the real estate sector’s contribution to the National Transformation Program; the effectiveness of real estate regulations within the National Transformation framework; the efficiency of the financing system in developing the real estate industry; and incentive programs for the real estate sector that transform it into a pillar of the national economy.
On this occasion, Hamad Al-Shuwaier, Chairman of the National Real Estate Committee and Chairman of the conference’s organizing committee, emphasized that the importance of the real estate sector necessitates holding the Saudi International Real Estate Conference every two years, noting that “SAIREC 4” follows the great success achieved by the conference in its previous editions, having become an international real estate platform that brings together experts and stakeholders in the real estate sector from both the public and private sectors, noting that the real estate sector is a key driver of development and is linked to more than 120 economic activities, and adding that the National Real Estate Committee is an important partner of the Ministry of Housing in developing the sector and providing housing for citizens.
Al-Shuwaier considered the conference an important event in light of significant developments in the regulatory environment of the real estate sector, most notably the issuance of directives from the highest authorities to the Ministry of Housing to begin preparing the draft National Real Estate Authority—one of the most important demands of real estate professionals—and the recommendation toto Sayerk 3, noting that the conference aims to lay the proper foundations for the future of the real estate market in the Kingdom, contribute to the development of regulations and legislation specific to the Saudi real estate market; study and analyze new decisions, procedures, and regulations in the real estate sector; and anticipate their impact on real estate activity and the national economy, as well as building a clear future for this market that attracts investors based on scientific, professional, and expert principles.
