His Excellency the Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al Haqeel, participated in the Qatar Real Estate Forum III, held in the Qatari capital Doha, where Saudi Arabia was the main guest of the Forum in a high-level ministerial session that discussed the “Real Estate Roadmap towards achieving Vision 2030”.

Saudi Arabia was the main guest of the Forum in a high-level ministerial session that discussed the "Real Estate Sector Roadmap towards achieving Vision 2030".

Reviewing Saudi real estate developments

<During the session, His Excellency reviewed the path of urban, regulatory and digital transformation witnessed by the Saudi real estate sector under the Kingdom's Vision 2030, stressing that the Gulf countries today are witnessing a qualitative shift in attracting capital, brains and job opportunities, in parallel with changing lifestyles and the needs of new generations of the population, such as: Generation Z and Alpha, which requires the development of new models of communities and cities that put people and quality of life at their core. The challenge in the past was to provide housing, while the challenge today is to provide happiness for those who live within these communities, which led to the development of a comprehensive real estate system that links the landowner, developer, service provider, facilities management and real estate broker in one more balanced and effective system.

He pointed out that the Kingdom's Vision 2030 launched a new phase in which the Kingdom moved from managing the market to empowering it, through flexible legislation, economic integration, and digital transformation that raised the efficiency of services and speed of completion, and completely reshaped the real estate experience.

100 national developers and projects with international standards

He added that since 2016, the Kingdom has established the National Housing Company (NHC) to be the largest executive arm for urban development, in addition to developing the Wafi program as a regulatory arm for off-plan sales, enabling more than 100 national developers to implement huge projects with international standards, noting that NHC has become the main pillar for major projects in partnership with local and international developers, confirming the signing of a new agreement with Qatari Diar to expand its presence in the Saudi market within the path of qualitative Gulf partnerships.

In the area of financing, he confirmed the signing of a new agreement with Qatari Diar to expand its presence in the Saudi market as part of the path of qualitative Gulf partnerships.

In the area of financing, Minister Al-Hogail emphasized that real estate financing has become the main pillar for the success and sustainability of real estate development, pointing out that its size in the Kingdom has increased from about 200 billion riyals to more than 900 billion riyals in 2025, and that it represents today 27% of the total portfolio of Saudi banks, noting that the Saudi Real Estate Refinance Company (SRC) launched issues in the London Financial Market to support the integration of financing between local and international markets.

Minister Al-Hogail stressed that real estate financing is the main pillar of real estate development in Saudi Arabia as part of the path of quality Gulf partnerships.

Saudi Architecture Initiative

He touched on the Saudi Architecture Initiative launched by His Highness the Crown Prince, stressing that it represents a transition from physical construction to identity building, by formulating 19 Saudi urban identities that reflect the diversity of the Kingdom's regions and its cultural and civilizational richness, so that the visitor in each city feels its architectural uniqueness and its connection to its history and status, noting that Saudi cities have allocated 10% of their spaces for "free" architectural experiences that promote diversity and creativity within local character.

In the area of digital transformation, the Minister of Architecture and Landscape Architecture, Mr. Al-Hussein said. <The Minister explained that the Kingdom's cities are witnessing tangible progress in building smart cities and digital transformation of services, with six Saudi cities becoming among the top 100 smart cities globally according to the IMD index, and that the strength of the digital infrastructure has enabled the full digitization of real estate transactions, turning real estate into an investment and savings asset with new products, supported by innovation platforms such as NHC Innovation.

NHC Innovation. His Excellency stressed that the Kingdom, with the support of its wise leadership, is continuing to promote institutional transformation and economic empowerment to ensure the sustainability of real estate growth, balance between supply and demand, and improve the quality of life in cities.

He concluded. The Minister concluded his speech by stressing that Gulf integration in the real estate sector is a key pillar for building a more mature and sustainable regional market, praising the State of Qatar for organizing and hosting the forum and providing a platform to enhance cooperation, exchange experiences and build strategic partnerships that contribute to drawing a more sustainable and integrated Gulf urban future.

The Minister concluded his speech by stressing that the Gulf integration in the real estate sector is a key pillar for building a more mature and sustainable regional market.