Recently, the Council of Chambers, represented by the National Real Estate Committee, and the Real Estate Union of Islamic Countries—affiliated with the Organization of Islamic Cooperation—signed a cooperation agreement in the field of real estate development to achieve the common goals of both parties.

Hamad Al-Shuwaier, Chairman of the National Real Estate Committee, said that the agreement aims to foster fruitful and constructive cooperation between the two sides, expressing his hope that it will serve as a bridge for communication and a platform to serve Saudi real estate investors and develop their investments and businesses in various Islamic countries.

For his part, Dr. Muhammad bin Yahya Al-Mufarrah, Chairman of the Founders’ Council of the Real Estate Union of Islamic Countries, affirmed that the agreement was designed to bolster the Saudi government’s efforts and support the private sector in achieving Vision 2030, noting that areas of cooperation between the Federation and the Committee will focus on the transfer and exchange of expertise and knowledge, as well as building local and international partnerships in the real estate sector—especially since the Saudi real estate market is currently experiencing growth and regulatory advancements, which will lead to further success. The agreement calls for the establishment and formation of joint committees or working groups for various tasks, with the aim of realizing areas of cooperation between the two parties and ensuring the success of their shared objectives, in addition to fostering cooperation and coordination between them by each party providing the other with the greatest possible assistance within its available capabilities.