Real Estate Innovations And Technologies Captivate Visitors At Cityscape Global 2024 In Riyadh

Cityscape Global 2024 is concluding its activities at the Riyadh Exhibition and Convention Center in Malham, showcasing innovations in real estate. Visitors have shown great interest in the latest housing trends and technological advancements, particularly those featured at the Technology Theater. These innovations, driven by artificial intelligence (AI), aim to improve customer experiences and enhance urban development sustainability.

The event, held from November 11 to 14, is under the patronage of the Ministry of Municipalities and Housing. It is organized by Tahaluf, a collaboration between the Saudi Federation for Cybersecurity, Programming, and Drones (SAFCSP), the Events Investment Fund (EIF), and Informa PLC. The Real Estate General Authority (REGA) pavilion stands out with its innovative exhibits and modern residential community trends.

At REGA’s pavilion, visitors can explore technologies ranging from display screens to AI. These innovations are designed to build an informed real-estate community focused on a future driven by innovation. The pavilion emphasizes sustainable property technologies (PropTech), which offer new opportunities for planning, managing, and marketing real estate through data analysis and virtual properties.

REGA's pavilion also highlights significant legislation that governs the Saudi real-estate market. It showcases achievements like issuing over 20 regulations to organize and increase sector reliability. Additionally, 57 electronic platforms have been licensed to enhance advertisement credibility and data quality.

More than 2 million units have been registered in the real-estate registry, safeguarding ownership rights and documenting transactions. To regulate market transactions and boost confidence in residential and commercial sectors, REGA has recorded over 11 million lease agreements via the EJAR network.

To further improve transaction quality, REGA has issued over 60,000 licenses to brokers for conducting real-estate activities. Licenses have also been granted for more than 77,000 off-plan sales units across over 140 projects valued at SAR100 billion.

Economic Impact of Real-Estate Transactions

Since early 2024, real-estate transactions have surpassed SAR630 billion. This contributes significantly to urban community development in Saudi Arabia. The sector's growth enhances its appeal as a global investment destination while solidifying Saudi Arabia's position on the world stage.

The event reflects Vision 2030 goals through collaboration with REGA and the Housing Program. By promoting sustainable urban development and innovative approaches in real estate, Cityscape Global continues to captivate attendees with its forward-thinking initiatives.

With inputs from SPA