Favorable investment environment
<The second edition of Cityscape was supported by the economic and legislative reforms launched by Vision 2030, which contributed to enhancing foreign investors" confidence in the Saudi market. By easing legal procedures, guaranteeing full foreign ownership in certain projects, and developing infrastructure, the Kingdom has succeeded in offering a favorable investment environment.
Giant Projects Spur Growth
Giant projects such as NEOM, The Line, Qiddiya, and the Red Sea are strong economic levers for the real estate sector. These projects not only bring about local development, but also offer global investment opportunities in diverse areas including tourism, entertainment, and smart technology.
Technology and sustainability at the heart of development
<One of the factors attracting investors is the Kingdom's move towards adopting the latest technologies in urban planning and construction, with a focus on sustainability standards. The exhibition highlighted modern building technologies and smart city solutions that reflect the future of real estate.
Cityscape concludes
Cityscape Global 2024 concluded last Thursday the second edition of the world's largest real estate exhibition, which was held for 4 days during the period from 11 to 14 November at the Riyadh Exhibition and Convention Center in Malham, north of Riyadh, under the theme ”The Future of Life", sponsored by the Ministry of Municipalities and Housing, in partnership with the General Authority for Real Estate, the Housing Program (one of Saudi Vision 2030 programs) and Tahaluf, the owner and organizer of Cityscape.
<The closing ceremony of Cityscape was sponsored by His Excellency the Minister of Municipalities and Housing. Majid Al-Hogail and Tahaluf Chairman Faisal Al-Khamisi, in the presence of leaders of the housing system, a number of officials and heads of the organizing committees.
Minister Al-Hogail stressed the importance of the exhibition. At the end of the ceremony, Minister Al-Hogail stressed that the achievements of Cityscape Global reflect the ongoing interest in developing the real estate sector and enhancing its attractiveness, pointing out that the volume of investments and agreements signed, as well as the level of active participation from local and international entities, confirm the continuous movement and significant growth in this sector, in line with the role of the Ministry and its strategic objectives within the Saudi Vision 2030.
Minister Al-Hogail stressed that the achievements of Cityscape Global are in line with the role of the Ministry and its strategic objectives within the Saudi Vision 2030.
<His Excellency said:" We are proud of the results achieved at this important global event, which embraces major companies and development projects, reviews the most important investment opportunities, experiences and successful practices in the real estate sector, and represents a platform for integrated housing solutions and options to enable families to own property, as this comes within our continuous efforts to develop the real estate sector, enhance its economic and social role, and continues our success in the last edition of this event, through which we seek to achieve what meets the aspirations of all and continue the wheel of development in the real estate sector.”
His Excellency said For his part, Mr. Faisal Al Khamisi expressed his happiness with the results and achievements achieved, stressing that the exhibition this year has doubled its numbers and successes with the concerted efforts of all participating and organizing parties, indicating that the number of attendees and visitors to the exhibition exceeded 172 thousand visitors, the number of exhibitors exceeded more than 400 of the most famous brands and the largest local and international companies, and the proportion of participating international companies reached 471 TP3T, and the number of speakers exceeded 550 speakers from leading experts and sector leaders representing more than 50 countries.
In his speech, Mr. Al Khamisi said that the number of speakers exceeded 550 speakers from the most prominent experts and sector leaders representing more than 50 countries. During his speech at the closing ceremony, His Excellency the CEO of the General Authority for Real Estate, Mr. Abdullah Al-Hammad, praised the efforts of the organizing committees and working teams to make this exceptional global event a success and achieve the aspirations of all target groups, announcing that the total sales of local and international developers of various real estate units during the exhibition exceeded 20 billion riyals, and the value of strategic agreements between many parties reached more than 30 billion riyals, in addition to 180 billion riyals the value of the first day launches; thus exceeding the total value of real estate transactions at the exhibition more than 230 billion riyals.
The total value of real estate transactions at the exhibition exceeds 230 billion riyals. <As Cityscape Global 2024 draws to a close, it is clear that the Saudi real estate sector is not just a regional market, but a global platform for investment and development. Thanks to a strategic vision and accelerated reforms, the sector has become the focus of major companies and investors from around the world, reinforcing the Kingdom's position as a global investment destination.
