The real estate sector in the Kingdom is witnessing a qualitative transformation during 2024-2025, coinciding with the expansion of the use of artificial intelligence and geospatial data analysis techniques within government agencies and the private sector, which comes in an attempt to enhance transparency, support investment decisions and raise the efficiency of urban planning.
Real estate sector in the Kingdom is witnessing a major digital transformation.
Digital transformation in the real estate sector
The Saudi Digital Governance Authority (DGA) Digital Transformation Benchmarking Report for 2024, which included 235 government entities, confirmed that the average achievement was about 87.14%, which confirms a high readiness to adopt artificial intelligence solutions on a large scale within vital sectors, especially real estate.
The Saudi Real Estate Authority (SREA) announced that the real estate sector is set for a large-scale digital transformation in 2024. The General Authority for Real Estate announced the launch of the “Real Estate Indicators Platform” and the Geospatial Database, which aims to unify data sources and provide real-time and accurate indicators, including prices, trading volume, and occupancy rates, as these platforms are part of the real estate transformation program in support of the objectives of the Kingdom's Vision 2030.
These platforms are part of the real estate transformation program in support of the objectives of the Kingdom's Vision 2030. The Saudi Data and Artificial Intelligence Authority (SDAIA) announced the expansion of open data publishing programs and the implementation of government AI frameworks that allow entities - including real estate regulators - to use big data and machine learning models to analyze the market.
Direct impact on the real estate market
The availability of the GRA database and SDAIA's initiatives have contributed to the development of “Automated Valuation” (AVM) systems, which rely on artificial intelligence to estimate the value of real estate in real time, used by banks and development companies for financing and pricing.
Advanced geographic analysis for housing planning
Geospatial data launched by the Public Authority for Real Estate allows tracking the distribution of land and units and identifying housing priority areas, which supports the Ministry of Municipal Affairs and Housing's programs to expand suburbs and regulate supply.
Geospatial data launched by the Public Authority for Real Estate allows tracking the distribution of land and units and identifying housing priority areas.
Real Estate Demand Forecasting Models
The Saudi Data and Artificial Intelligence Authority is working with government entities to develop predictive models to measure future demand for housing and link them with financing and mortgage data registered with the Saudi Central Bank (SAMA), which enhances the accuracy of decisions related to housing support and land supply.
The Saudi Data and Artificial Intelligence Authority is working with government entities to develop predictive models to measure future demand for housing and link them with financing and mortgage data registered with the Saudi Central Bank (SAMA).
