The contribution of the real estate sector to GDP is 5.9%, according to statistics for the fourth quarter of 2023, and the contribution of real estate activities to non-oil activities is 12.1%
Taysir Al-Mafraj, spokesperson for the General Authority for Real Estate, said in his speech at the opening of the Saudi Real Estate Development and Ownership Exhibition. <During his speech at the opening of Saudi Exhibition for Real Estate Development and Ownership “Ceredo 2024”, Al-Mufaraj added that the General Authority for Real Estate has launched to date more than 18 real estate legislation, including real estate regulations, executive regulations, regulations and organizational rules, and this amount in a few years reflects the interest of the wise leadership in developing the real estate sector on the one hand, and the seriousness of the “Authority” in raising the governance of the sector on the other hand
<He stressed that the Authority continues to work with its partners in the real estate sector, from government agencies and the private sector through individual practitioners and establishments to the end user through real estate legislation with the aim of transforming the real estate sector into a vibrant and attractive sector characterized by confidence and innovation to enhance the Kingdom's leadership and economy at the regional and international level.
Saudi Exhibition for Real Estate Development and Ownership “Ceredo 2024” opened on Tuesday afternoon in Jeddah, with the participation of a number of relevant government agencies, real estate developers, financing entities, experts and specialists in the real estate and investment field; with the aim of providing knowledge for those working in the real estate sector through dialogue workshops and exchange of experiences.
CEREDO 2024 seeks through its events to transfer best practices and experiences in the field of real estate development, promote digital transformation, as well as build local and international partnerships; as this year's edition includes a set of workshops and seminars, most notably the Art of Negotiation seminar for real estate brokers, as well as a workshop on understanding real estate market developments and analyzing trends, in addition to a seminar on the importance of the national address in the development of the real estate sector and the geospatial data world to build new horizons in real estate, in addition to The four-day exhibition will be attended by major companies investing in the real estate sector to showcase real estate development products, which is one of the promising sectors with a great return on national development, in addition to being an environment to hold more partnerships and explore promising opportunities in this field.
Real estate development is one of the most promising sectors with a great return on national development.
