Engineer Abdullah Al Hammad, CEO of the General Real Estate Authority, revealed that the authority is currently working on reviewing the regulatory relationship between landlord and tenant in order to strengthen it and achieve a balance that preserves the rights of both parties, based on the directives issued by HRH the Crown Prince last March, which emphasizes the importance of developing legislation to support the real estate sector.

In an interview with Al Sharq News Channel on the sidelines of the Capital Global Cityscape

. In an interview with Al Sharq News on the sidelines of the Capital Global Cityscape exhibition in London, Al-Hammad explained that the real estate sector in Saudi Arabia has recorded a strong contribution to GDP, reaching 14% by the end of 2024, stressing that this performance has contributed to generating more than 500,000 jobs so far.

Hammad said that the real estate sector in the Kingdom of Saudi Arabia has recorded a strong contribution to the GDP, reaching 14% by the end of 2024, stressing that this performance has contributed to the generation of more than 500,000 jobs so far. Al-Hammad pointed out that the Saudi real estate sector has witnessed accelerated growth in recent years, since the launch of the Kingdom's Vision 2030, of which this sector is one of its main pillars, explaining that the transformations witnessed by the sector were not limited to quantitative growth, but also included fundamental reforms at the level of legislation and governance, which contributed to increasing transparency and enhancing investor confidence.

Hammad pointed out that the real estate sector in Saudi Arabia has recorded a strong contribution to the GDP, amounting to 14% by the end of 2024.