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 Haqeel, and in strategic partnership with the National Housing Company (NHC), continues its second and final day. The Summit began yesterday with the speech of His Excellency the Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al-Hogail, who welcomed the guests of the Summit, stressing the importance of holding the World Proptech Summit, which comes in conjunction with the great movement in the local, international and regional real estate sector at all levels, and the determination of the Kingdom of Saudi Arabia to make Riyadh a global center in the real estate technology sector led by the General Real Estate Authority to promote the real estate sector, develop its regulatory environment and create its investment opportunities and employ real estate technologies to achieve digital transformation and enhance transparency and efficiency.
The Summit's sessions also discussed real estate technologies to achieve digital transformation and enhance transparency and efficiency. On its first day, the Global Proptech Summit sessions discussed advanced management and data analysis, the role of emerging technologies in shaping the future of Proptech, the latest in modern building technologies, the role of virtual reality and artificial intelligence in creating the future of real estate and automating its processes and services, in addition to talking about Proptech solutions in urban development and making smarter decisions that contribute to the development of investments and enhance financial sustainability.
The Summit also witnessed the launch of the real estate technology sector led by the General Real Estate Authority to promote the real estate sector, develop its regulatory environment and develop investment opportunities, and employ real estate technologies to achieve digital transformation, enhance transparency and efficiency. The summit witnessed the launch of the Saudi Real Estate General Authority (Sph) to be a center that serves all those interested in real estate technology from inside and outside the Kingdom, and provides services that contribute to empowering stakeholders in the sector and raising its efficiency, and to be the main channel for innovation in real estate technologies in Saudi Arabia. In addition, the "Summit" witnessed the signing of a number of agreements to attract accelerators that adopt international best practices, support and encourage technology companies in the real estate sector and provide incentives and consultations to enable them to conduct their business, and to provide digital insurance services.
The summit witnessed the signing of a number of agreements with the aim of attracting accelerators that adopt international best practices, to support and encourage technology companies in the real estate sector and provide incentives and consultations to them to enable them to start their business, and to provide digital insurance services.
The summit provides a platform for collaboration. <The summit provides a platform for collaboration with global entities and a gateway for startups and leading 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 during the year 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.
