The CEO of Strategy and Partnerships at the Public Authority for Real Estate, Eng. Ziad Al-Shammari, participated in a session at the World Proptech Summit on the role of emerging technology in shaping the future of proptech. Al-Shammari said, "Our goal in the General Real Estate Authority is to make the real estate sector vibrant and attractive, and real estate technology is a key pillar to achieve transparency in the sector."
He explained that the General Authority for Real Estate (G.A.R.E.)
<He explained that the General Authority for Real Estate has worked to develop initiatives to promote innovation and empower innovators in the real estate market, and today we launched the initiative (Saudi Proptech Center), which includes 4 initiatives
Supporting the growth of the real estate technology market in the Kingdom
Innovation is the foundation of real estate technology, and having innovative models is a key part of our
our strategy at the Public Authority for Real Estate.
He noted that the importance of real estate technology lies in several areas, including improving the user experience, analyzing data that helps in decision-making and others, and we are constantly working to enable investment in real estate technology to make the Kingdom a major destination for investment in this sector.
<The Global Proptech Summit, organized by Public Authority for Real Estate under the patronage of His Excellency the Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al-Hogail, and in strategic partnership with the National Housing Company (NHC), kicked off this morning in Riyadh, Saudi Arabia. The summit will be attended by prominent personalities, global experts and specialists in the fields of real estate and real estate technologies, in addition to more than 100 speakers representing 80 countries, sharing their experiences and expertise with thought leaders and CEOs of major real estate and real estate technology companies, as well as investors from around the world.
<The summit will focus on the journey of digital transformation in the real estate sector, the role of emerging technologies in shaping the future of “Proptech”, as well as the latest innovations in modern construction techniques, virtual reality and artificial intelligence technologies that contribute to the automation of real estate operations and services. The summit will also highlight the applications of Proptech solutions in urban development and its role in making smarter decisions to optimize investments and financial sustainability.
The summit provides a platform for collaboration. <The summit provides a platform for collaboration with global entities and a gateway for startups and pioneering companies to showcase their innovative solutions and meet investors and venture capitalists, as the volume of investments in the "Proptech" market reached 42.13 billion US dollars in 2023, with the number of active investors increasing to 3347 investors and 2177 leading companies around the world. Riyadh, with its strategic geographical location connecting three continents and the strength of its real estate market, is an ideal springboard for global innovations in real estate technology, reinforcing the Kingdom's role as a leading center in this field.
