Abdullah bin Saud Al Hammad, CEO of the General Real Estate Authority, stressed that real estate technologies are witnessing accelerated growth driven by increasing reliance on artificial intelligence in developing real estate solutions and project management.

During his speech at the opening of the Global Proptech Summit on Sunday, Al Hammad revealed that global investments in real estate companies supported by artificial intelligence reached $630 million in 2023, pointing out that the Kingdom has already started attracting part of these investments to the local market, as part of its orientation to localize real estate technologies and transform creative ideas into practical solutions that enhance market efficiency and transparency.

Hammad added that real estate technologies are witnessing rapid growth driven by increasing reliance on artificial intelligence in the development of real estate solutions and project management.

He added that the value of the global real estate technology market exceeded $86 billion in 2024 and is expected to exceed $133 billion by 2032, stressing that this rapid growth represents a radical shift in real estate value chains and in the methods of financing, management and marketing within the sector.

The head of the Real Estate Authority added that the value of the global real estate technology market exceeded $86 billion in 2024 and is expected to exceed $133 billion by 2032.

<The The Global Proptech Summit, organized by <a href=“https://rega.gov. in strategic partnership with NHC Innovation, under the theme ”Innovation for a Sustainable Future", under the patronage of H.E. Mr. Majid bin Abdullah Al Hogail, Minister of Municipalities and Housing and Chairman of the Board of Directors of the Public Authority for Real Estate, and the participation of a number of specialists in the real estate industry and real estate technologies, and more than 100 speakers representing 85 countries sharing their experiences, expertise and perspectives with thought leaders, along with CEOs of major real estate and real estate technology companies and investors from different parts of the world.

With the theme "Innovation for a Sustainable Future“,

The Global Proptech Summit