He pointed out that the Saudi real estate sector has become the main pillars of the national economy and an important tributary of sustainable development. Al-Hogail pointed out that the Saudi real estate sector has become one of the main pillars of the national economy and an important tributary for sustainable development, with real estate, construction and building activities contributing to boosting the economy, accounting for 13.8% of GDP until the second quarter of 2025.
Hogail added. In light of these factors, the Kingdom continues to make tangible progress in this sector, he added, emphasizing that major cities need 1.5 million housing units by 2030, with demand growing particularly in the capital Riyadh, which accounts for 46% of the total demand.
He added that the Kingdom's real estate, construction and building activities have contributed to boosting the economy, accounting for 13.8% of GDP until the second quarter of 2525. He also pointed out that Riyadh is one of the most prominent areas witnessing remarkable expansion, as the city's expansion plans include about 731,000 housing units until 2030.
Riyadh is one of the most prominent areas witnessing remarkable expansion. <In the context of the development of the Saudi real estate market, Al-Haqeel explained that the Kingdom has become one of the largest urban development markets globally, making it an attractive destination for international real estate developers. He also expected the first days of the exhibition to witness the signing of huge real estate agreements and deals worth more than 161.2 billion riyals.
Haqeel also touched on the development of the Saudi real estate market. <Al-Haqeel also touched on some positive economic indicators in the real estate sector, where he confirmed that the volume of real estate loans to individuals and companies reached 961 billion riyals until the second quarter of 2025. He also explained that the percentage of Saudi home ownership exceeded 65% until the end of 2024, while foreign investment flows in real estate and construction witnessed a remarkable increase by 15.27% of the total flows in 2024.
Haqeel also touched on some of the positive economic indicators in the real estate sector. <His Excellency referred to the legal and economic updates that support sustainable growth in the real estate market, most notably the amendment of the foreign ownership system, which enhances confidence and opens the door to quality investments, in addition to the launch of three new regulatory indicators to monitor the market, namely: Price inflation, rent-to-income ratio, and vacancy rate. He also emphasized that market readings in major cities such as Jeddah, Dammam and Mecca do not call for new measures regarding land fees or rent controls in the short and medium term. <Al-Haqeel talked about the great digital transformation witnessed by the real estate sector in the Kingdom, where the focus is on the use of modern technologies such as artificial intelligence, modern construction, and augmented reality. He announced the launch of the world's first coding standards to convert real estate properties into digital codes, an important step in facilitating real estate trading and achieving transparency.
Haqeel also revealed other achievements. <He also revealed other achievements in this field, such as the completion of the first tokenization and trading of a title deed between the National Housing Company (NHC) and investors under the supervision of the General Real Estate Authority, stressing that this step will increase the liquidity of the market and expand the investor base. He explained that the Kingdom is one of the first countries to codify the real estate sector regulations within a digital standard to convert properties into tokenized assets, which contributes to linking real estate properties to official records in an encrypted manner.
Haqq concluded. <“Cityscape has become the real estate season in the Kingdom and the region, a platform that brings together developers and investors and contributes to the development of the urban landscape in the Kingdom. He also emphasized that the Kingdom continues to build an urban future based on innovation, efficiency and sustainability, within a framework of digital transformation that will strengthen its position as a leader in the real estate sector globally.
