Cityscape Global 2025 Launches In Riyadh With Over SAR 161.2 Billion In Real Estate Agreements

Minister of Municipalities and Housing Majed Al-Hogail inaugurated Cityscape Global 2025 in Riyadh, focusing on "The Future of Urban Living." The event attracted developers, investors, and experts from around the globe. Al-Hogail expressed gratitude to King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman for their support in enhancing the Kingdom's real estate sector, aligning with Saudi Vision 2030.

Al-Hogail highlighted that Cityscape Global has evolved into a global platform showcasing Saudi Arabia's urban and economic progress. It provides investors with opportunities in smart cities and human-centric communities. He emphasized a shift in the roles of local and international real estate developers, noting that five major cities will need over 1.5 million housing units by 2030, with Riyadh requiring 731,000 units alone.

The minister announced that real estate agreements worth more than SAR161.2 billion would be signed during the exhibition's first two days. This reflects the strength and vitality of Saudi Arabia's real estate market, with more deals anticipated due to ongoing investor interest. The Kingdom is positioned as the region's largest urban development market.

Al-Hogail confirmed that the real estate sector has embraced full digital transformation through PropTech solutions. Technologies like artificial intelligence, modern construction methods, and augmented reality are now integral to planning and project management. He also revealed the completion of Saudi Arabia's first tokenization of a real estate title deed.

The launch of global standards for tokenizing real estate properties was announced by Al-Hogail. This initiative positions Saudi Arabia among the first nations to establish digital infrastructure directly linked to official records. These advancements aim to enhance innovation, efficiency, and sustainability within the Kingdom's real estate economy.

Al-Hogail concluded by stating that Cityscape Global serves as a national platform uniting stakeholders to explore future opportunities in the sector. The exhibition underscores Saudi Arabia's ambition to construct smart cities and foster a global real estate economy driven by innovation.

With inputs from SPA