{"id":61298,"date":"2023-12-10T14:12:11","date_gmt":"2023-12-10T11:12:11","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=61298"},"modified":"2025-11-26T21:27:03","modified_gmt":"2025-11-26T21:27:03","slug":"%d8%a7%d9%84%d8%ad%d9%85%d8%a7%d8%af-%d9%85%d8%b4%d8%a7%d8%b1%d9%8a%d8%b9-%d9%88%d8%a7%d9%81%d9%8a-%d9%88%d9%81%d8%b1%d8%aa-%d8%a3%d9%83%d8%ab%d8%b1-%d9%85%d9%86-1-25-%d9%85%d9%84%d9%8a%d9%88%d9%86","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/61298\/","title":{"rendered":"Al Hamad: Wafi projects have provided more than 1.25 million licensed units under construction since 2018"},"content":{"rendered":"

 <\/p>\n

The CEO of the General Real Estate Authority (GRA), Abdullah Al Hammad, said that\u00a0Off-plan sales<\/a> <\/strong>Wafi projects have so far provided more than 1.25 million licensed units under construction since 2018, indicating that these figures represent indicators of the attractiveness of the real estate sector in the Kingdom.<\/p>\n

Al Hammad added, during a panel discussion at the Global Real Estate Leaders Summit: \u201cThrough the work of the comprehensive strategy for the real estate sector, we reached in 2023 to document 6.4 contracts every minute in the Ejar network, until today we reached 8 million rental contracts since its launch in 2018.\u201d.<\/p>\n

The tourist property has witnessed remarkable growth over the past period, with the number of tourists doubling to 70 million visitors during the year, he explained, adding: \u201cWe aim to reach 100 million tourists, God willing.\u201d.<\/p>\n

Real estate is the most influential sector in investment\u00a0<\/strong><\/h2>\n

\u201cThe real estate sector is the second largest sector influencing investment after the oil sector; it influences the investment compass in the Kingdom and here comes our role in empowering the sector starting from legislation through developing procedures, digital empowerment, supporting and motivating investors,\u201d he added.<\/p>\n

During the opening of the summit, the CEO of the General Authority for Real Estate said that the summit, which is hosted by Riyadh, carries the slogan \u201cResilience for Growth\u201d and the global real estate market will see that the challenges and crises that have passed through it have contributed significantly in revealing the strengths of the potential and areas that need investment and strengthening the structure of the joint resilience framework between the public and private sectors in each country.<\/p>\n

Creating a successful real estate industry\u00a0<\/strong><\/h2>\n

Al Hammad added: \u201cIn the Kingdom of Saudi Arabia, we have the flexibility, readiness and opportunities through the system of Saudi real estate legislation that adapts to the requirements of the market and partners and ensures the creation of a successful, sustainable, innovative and sustainable real estate industry, in addition to the fact that Saudi Arabia today is the largest construction site the world has ever known with trillion projects since the announcement of Saudi Vision 2030.\u201d.<\/p>\n

The 42nd edition of the Global Real Estate Leaders Summit kicked off in the Saudi capital, Riyadh, under the patronage of the Minister of Municipal and Rural Affairs and Housing, Chairman of the Public Authority for Real Estate<\/a><\/strong>The event was attended by prominent real estate figures, CEOs of major companies, members of the International Real Estate Federation, and international speakers representing more than 110 countries.<\/p>\n

 <\/p>","protected":false},"excerpt":{"rendered":"

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