Global Proptech Summit 2023 Begins In Riyadh, Focusing On Real Estate Technology Innovations

The Global Proptech Summit commenced in Riyadh, organised by the Real Estate General Authority alongside the National Housing Company. This event gathers key figures, experts, and specialists from 80 countries in real estate and technology. Minister of Municipalities and Housing Majed Al-Hogail attended the opening ceremony, highlighting the event's importance in keeping up with developments in the real estate sector globally.

Al-Hogail emphasised Saudi Arabia's dedication to making Riyadh a global centre for real estate technology. This initiative aims to advance the sector, create investment opportunities, and utilise technology for digital transformation. He noted that digital transformation is vital for enhancing life quality and service efficiency for citizens, residents, visitors, and investors.

The summit's first day saw significant launches and agreements to boost real estate technology. A notable agreement was between the Real Estate General Authority and the National Technology Development Program. This partnership seeks to attract accelerators using best international practices and support tech companies with incentives and guidance to launch their ventures.

The two-day summit will explore various topics such as innovation in real estate, entrepreneurship, 3D printing advancements, and how virtual reality and AI can automate operations and services. These discussions aim to foster innovation in urban planning and real estate development.

An exhibition accompanies the summit, featuring startups, innovative companies, and platforms from both local and international spheres. This exhibition highlights cutting-edge innovations while showcasing industry experience and future visions. It serves as a platform for sharing insights into emerging technologies shaping the real estate landscape.

Al-Hogail reiterated that these efforts align with Saudi Arabia's vision of improving housing sector progress. The focus remains on fostering innovation within urban planning while leveraging advanced technologies to enhance service delivery across various sectors.

This gathering underscores Saudi Arabia's commitment to integrating technology into its real estate sector. By doing so, it aims to drive digital transformation while creating new opportunities for growth and development within this vital industry.

With inputs from SPA