Dr. Mohammed Al-Suleiman, CEO of the National Real Estate Registration Services Company (“Real Estate Registry”), affirmed that the company is working to transform the real estate sector by applying global best practices in real estate to create a reliable and fertile environment that opens up investment opportunities.
This came during the “Real Estate Registry’s” participation in and sponsorship of the third edition of Real Estate Future Forum held in Riyadh from January 22 to 24 under the theme “The Power of Resilience: Building a Sustainable and Prosperous Real Estate Future.”
In his speech at the forum, Al-Suleiman said: “We are just a few steps away from a complete transformation of the real estate sector," noting that an integrated real estate system requires three key factors: empowerment, sustainability, and prosperity, where prosperity is achieved by enhancing the real estate sector’s contribution to GDP and developing procedures, regulations, and strategies commensurate with the sector’s scale and the ambitious vision we seek to achieve to place the Kingdom among the ranks of developed nations, Sustainability is also achieved by providing a robust infrastructure for the sector that promotes transparency, reliability, and the growth of real estate wealth.
Improving Service Quality
He revealed the company’s aspiration to drive empowerment in the sector through comprehensive digitization and the use of data and artificial intelligence technologies to improve service quality and provide high-quality, value-added services, The company also aims to implement global best practices in real estate to create a reliable and fertile environment that opens doors to foreign investment and boosts local and regional investment.
He said: ”What everyone may consider a dream will become a reality—God willing—in a few years through a transformative vision, by striving to improve the Kingdom’s landscape through driving change in various promising sectors and fields, such as tourism and entertainment, service facilities, agriculture and food, and industry, with the real estate sector standing out among these as a key driver in realizing this vision.
It is worth noting that the "Real Estate Registry" is exclusively responsible for the operational aspects of real estate registration in the Kingdom. The company’s efforts enhance economic opportunities in local sectors, contributing to the real estate sector’s efficiency by enhancing reliability and transparency, facilitating access to property ownership information, and increasing its investment appeal locally, regionally, and globally, in accordance with the objectives of Saudi Vision 2030.
Real Estate Future Forum
It should be noted that The Future of Real Estate Forum , now in its third edition, also includes an accompanying real estate exhibition featuring booths for major local and international companies and organizations, as well as leading investors, to showcase the latest technologies, cutting-edge real estate products, and financing solutions, as well as the formation of a number of partnerships and the signing of agreements and memorandums of understanding covering various areas of the real estate sector.
The forum features more than 30 panel discussions and 25 workshops, where participants will discuss various strategic topics focusing on new innovations in the real estate industry, recent developments in the sector, new challenges and opportunities, and emerging trends. The forum will also address sustainable financing solutions, the impact of natural factors on the real estate industry, and their role in improving business quality.
