Emerging property trends will take the spotlight, emphasizing innovations and sustainable solutions, as 300 speakers from 85 countries convene for the Real Estate Future Forum in Riyadh.
According to Arab News, the third edition scheduled for Jan. 22-24, will explore sectoral developments, highlight major challenges, and delve into opportunities, the Saudi Press Agency reported. Discussions will also cover financing and the impact of natural factors on the sector.
Under the patronage of Minister of Municipal and Rural Affairs and Housing Majid bin Abdullah Al-Hogail, the event will host dialogues aligning with various strategic aspects of the real estate system, globally and locally.
The forum will feature 25 workshops and 30 sessions, addressing pressing industry issues and emerging trends.
The agenda includes an examination of governmental strategies’ influence on property sector growth and sustainability. It will explore technology’s impact on real estate, emphasizing advancements and their influence on urban architectural creativity.
Additional topics include enhancing urban resilience, discovering hidden city wealth, and exploring technical services in real estate.
The forum, which has established strong local and global partnerships in its past editions, aims to explore innovative adaptations, emphasizing the acceleration of overall property sector growth.
The conference also strives to broaden participation, delving deep into the sector by involving numerous regional and international companies and institutions specializing in the consulting and technical dimensions associated with the real estate system.
The forthcoming congregation is poised to see numerous alliances alongside the signing of dozens of bilateral agreements and memorandums of understanding. These deals will encompass diverse facets of the real estate industry, reflecting a comprehensive approach to collaboration and development within the sector, according to SPA.
It is worth noting that the second edition of the forum, which commenced with the signing of pacts exceeding SR10 billion ($2.66 billion), witnessed the inking of over 50 MoUs. These agreements spanned various sectors, including real estate development and building technologies, the construction of housing units, the establishment of real estate funds, and the provision of advisory and administrative services.
In September 2023, Saudi Arabia unveiled projects exceeding SR65 billion on the opening day of the Cityscape Global exhibition at Riyadh’s Exhibition and Convention Center.
During the same month, ROSHN Real Estate Co., backed by the Kingdom’s Public Investment Fund, secured SR10 billion in funds as it prepared for projects across the Kingdom. The financial backing followed an SR6 billion revolving credit agreement with three local banks concluded in 2023.
With over $1.25 trillion in infrastructure and real estate projects, Saudi Arabia is poised to become one of the world’s largest construction hubs, as per a September 2023 Knight Frank report.
Source: Arab News