Riyadh, Saudi Arabia– The three-day Future of Real Estate Forum kicked off in the Saudi capital Riyadh on Monday and witnessed the signing of MoUs and agreements worth SAR 10 billion ($2.66 billion).
The agreements were signed in real estate development and building technologies, and the establishment of four investment funds to develop commercial, tourism and residential projects, and the development of residential units, SPA reported.
Participants from more than 30 countries and 100 speakers representing the public and private sectors will attend the forum alongside a group of economists, investors, decision-makers and experts in the real estate sector.
The Minister of Municipal and Rural Affairs and Housing Majid bin Abdullah Al-Hogail, who inaugurated the second edition of the Forum, said the event coincides with the coming into force of the real estate brokerage system, which enables the development and governance of the real estate sector, the digitization of its operations, and the service of beneficiaries, so that the sector becomes attractive and a catalyst for investment in the kingdom.
He pointed out that the Future of Real Estate Forum this year addresses 10 strategic axes, the most important of which are: the role of the UAE, governorates, ministries and secretariats in harmonizing the empowerment of the real estate sector, regional efforts and their impact on the growth of the real estate sector in the region, the future of real estate investment, real estate regulations between implementation and control, and the private sector between regulations and empowerment in the real estate sector.
An exhibition of 60 participating pavilions at the Forum includes major real estate development and marketing companies, housing, most financing agencies, Saudi banks and relevant government agencies.