His Excellency the Minister of Municipal and Rural Affairs and Housing, Chairman of the Board of Directors of the General Authority for Real Estate, Mr. Majid bin Abdullah Al-Hogail, said during the launch of the Saudi Protech Conference today that the importance of real estate technology and its role in developing the future of real estate gives us real indications that we are moving in the right direction. Let us remember that the Kingdom’s Vision 2030 aims to reach a vibrant society and a prosperous economy by providing a suitable environment for growth, creating job opportunities for citizens, nurturing talents, developing investments, and taking advantage of the great potential that the nation enjoys.
He added that real estate technologies are one of the enablers through which creative and innovative citizens contribute to shaping a promising future. Today, Saudi Protech has come to support the culture of innovation and contribute to providing unique opportunities for the growth of the real estate sector, and helps in attracting the best global expertise in this field, and will continue in the coming years to be a knowledge platform that supports real estate technology.”
Protech Saudi Arabia for Private Sector Empowerment
Al-Haqil affirmed that the launch of Saudi Protech is a launch of the promising potential of the real estate sector, empowering the private sector, and contributing to the development of real estate and infrastructure projects. The General Authority for Real Estate will enable real estate technology projects through real estate legislation and regulations to open new markets that contribute to diversifying the sources of income for the local economy and supporting non-oil GDP.
Improving efficiency and effectiveness
For his part, the CEO of the General Authority for Real Estate, Engineer Abdullah bin Saud Al-Hammad, explained that the General Authority for Real Estate believes that real estate technologies are one of the enablers that lead the real estate sector to raise its efficiency and effectiveness and enhance its role in diversifying sources of income, and maximizing the benefit from the digital transformation that the Kingdom of Saudi Arabia is experiencing in various fields, with its broad horizon, multiple projects and increasing need for it as part of the quality of life, is the source of real estate investment opportunities in the near future, and its growth is supported by all strategies of scientific research and innovation, digital transformation strategies, information technology and the development of real estate legislation and regulations. Whoever looks at the giant Saudi real estate projects that are being announced continuously realizes that real estate technology is the future, as it is through it that sustainability standards are applied and the level of quality of life is raised.
During the opening ceremony of “ProTech Saudi Arabia”, the Real Estate Technology Report was announced, the Real Estate Indicators Platform was launched, and the Real Estate Registry Platform was launched, in addition to the opening of the accompanying exhibition, which includes more than 50 pavilions representing 25 countries, and in which the government agencies that legislate and enable in the real estate sector participate, in addition to real estate companies, technology companies, startups in real estate development and construction, real estate applications, investment companies and financing funds.
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