President of the General Authority for Real Estate Engineer Abdullah bin Saud Al-Hammad stressed that the increasing government interest in the real estate and housing system and the adoption of real estate legislation and regulations contributed to enhancing the competitiveness and growth of the Saudi real estate market.
This came in Hammad's speech after opening Riyadh Real Estate Exhibition 2025, which kicked off today and continues until February 20, with the wide participation of major real estate companies and real estate developers, who review the latest real estate products and services to meet the aspirations of Saudi families towards ownership, in addition to real estate brokers and marketers, financing agencies and investors.
Hammad pointed out that the increasing government interest in the real estate and housing system and the adoption of real estate legislation and regulations has contributed to enhancing the competitiveness of the Saudi real estate market and its growth. Al-Hammad pointed out that during the past three years, more than 1,000 real estate developers were qualified and 360 licenses were granted for new off-plan residential projects in various regions of the Kingdom, which contributed to providing about 200,000 diverse housing units within integrated communities that meet international standards and enhance the quality of life and environmental and social sustainability.
Hammad added that the integration of real estate companies and real estate developers will showcase the latest real estate products and services aspiring to Saudi families towards ownership. <He added that the integration of efforts between the real estate and housing systems contributed to raising the rate of homeownership from 47% to 64% by the end of 2024, reflecting the upward trajectory of the sector towards achieving its targets. He pointed out that the Saudi real estate sector has become one of the most competitive sectors in the region, and its contribution to GDP reached 14% in 2024, while the construction and real estate activities contributed more than 16% of the total foreign direct investment flows, reflecting the confidence enjoyed by the sector, and the real estate market provided more than 500 thousand job opportunities for Saudi youth and girls in more than 318 thousand establishments in the construction and real estate sectors, thus becoming one of the main pillars of diversifying the national economy and promoting sustainable development.
The CEO of the Saudi Arabian Real Estate Authority (SREA) explained that the real estate sector has become one of the main pillars of diversifying the national economy and promoting sustainable development. <The CEO of the General Real Estate Authority explained that the rapid growth of the real estate sector was not isolated from the challenges, as it is affected by a number of global and local factors such as monetary policies, economic variables, and interest rates. However, the integrated regulatory policies contributed to maintaining the stability and sustainability of the market, through incentives for ownership of the first home, financing support, tax exemptions, increasing the real estate supply and accelerating construction in partnership with financing agencies and related sectors, in addition to continuously monitoring the market, adapting to changes and developing supportive tools and policies “Riyadh Real Estate Restatex 2025" aims to highlight the role of the real estate sector in diversifying investment sources, reviewing residential and commercial mixed-use projects, and real estate trends that contribute to the prosperity of the Saudi real estate market and enhance its sustainability and ability to adapt to the rapid economic changes.
<The exhibition includes workshops and discussion sessions on the most prominent challenges and opportunities in the real estate market, real estate financing challenges, and the future of housing, in addition to reviewing the latest technical solutions, modern construction methods, and real estate financing. It is expected to witness a wide attendance of sector specialists and those interested in real estate investment.
