His Excellency the Minister of Municipalities and Housing Mr. Majid bin Abdullah Al-Hogail stressed that Cityscape Global has become a global platform that reflects the growing status of the Saudi real estate sector, pointing out that the success of the previous editions of the exhibition clearly reflects the rapid growth of the real estate market and its vital role in achieving the objectives of “Vision 2030”.
Hogail said that Cityscape Global <Al-Haqeel said that Cityscape is no longer just an exhibition, but an integrated experience through which you live through the development of the real estate sector in all its components, adding: Today, we have reached a stage where some countries are seeking to showcase their real estate experiences at Cityscape, as it represents an international platform that brings together investors and developers from around the world.
Cityscape.
Real estate deals
The total value of investors" real estate assets increased from $1 trillion in 2023 to about $3.3 trillion in 2024, while the value of real estate deals doubled from $30 billion in 2023 to $61.2 billion the following year, including $5.3 billion worth of deals closed within the exhibition itself, confirming the exhibition's position as a major platform for major deals.
His Excellency explained that the total value of investors” real estate assets increased from $1 trillion in 2023 to about $3.3 trillion in 2024, while real estate transactions doubled from $30 billion to $61.2 billion the following year.
He added that the exhibition area witnessed a remarkable growth of 221% in 2024, rising from 75,000 square meters to more than 166,000 square meters this year, in line with the increasing demand for participation by local and international developers, which reflects the great momentum that the real estate sector is witnessing in the Kingdom.
He added that the exhibition area witnessed a remarkable growth of 221% during 2024, rising from 75,000 square meters to more than 166,000 square meters this year, in line with the increasing demand for participation by local and international developers. Al-Huqail pointed out that the percentage of international participation in Cityscape now represents about 50% of the total exhibitors, explaining that the number of participating entities increased from more than 300 in 2023 to 426 in 2024, and this number is expected to exceed 500 entities in the current edition, with a growth rate of 183%, establishing the exhibition as an attractive global investment platform.
He stressed the importance of the international participation in Cityscape, which reflects the great momentum witnessed by the real estate sector in the Kingdom. The Minister stressed that Cityscape today represents the most prominent link between the Saudi and international real estate markets, allowing investors from more than 40 countries to view major projects in the Kingdom and explore direct investment opportunities, pointing out that the exhibition also allows investors and consumers to buy real estate directly from the event site, a qualitative advantage that is not available in any other platform of this size.
Haqeel added that Cityscape is now the most important link between the Saudi and international real estate markets, as it allows investors from more than 40 countries to view major projects in the Kingdom and explore direct investment opportunities. <He added that opening the real estate market to foreign investors is a pivotal milestone in the Kingdom's economic development, saying: We are committed to building a truly global real estate market, and this step gives investors a unique opportunity to establish a long-term presence in one of the fastest growing markets in the world. He stressed that the Kingdom's vision is based on the development of an integrated system that brings together real estate developers, innovators in construction technologies and financing institutions to ensure sustainable and balanced growth, stressing that the current phase is one of the most exciting periods in the development of the Saudi real estate sector.
Haqeel concluded by saying: "We are committed to building a truly global real estate market. "This year's edition of Cityscape is witnessing unprecedented activity, with major projects moving from vision to reality and the presence of international investors increasing at an accelerated pace," Al-Haqeel concluded, noting that the reforms launched by the Kingdom have begun to bear fruit by enhancing the investment environment and opening new horizons for ownership and real estate development.
Haqeel concluded by saying that this year's edition of Cityscape is witnessing unprecedented activity.
He added: The spirit of ambition, innovation and international cooperation that we see today at Cityscape makes this edition a turning point in the march of the real estate sector in the Kingdom. The exhibition is truly the window of the future for the world of real estate in Saudi Arabia and beyond.
Listen to H.E. @majedhogail talk about: @saudimomrah
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