Minister Majed Al-Hogail Inaugurates Cityscape Global 2024 With Major Real Estate Developments Announced

The second edition of Cityscape Global 2024, the world's largest real estate event, was inaugurated by Minister of Municipalities and Housing Majed Al-Hogail. The event, themed "The Future of Living," saw participation from senior officials, government agencies, companies, real estate developers, and financing entities. During the opening ceremony, Minister Al-Hogail announced strategic projects and agreements exceeding SAR180 billion, marking a significant increase from the previous edition.

Cityscape Global 2024 is a four-day event held at the Riyadh Exhibition and Convention Center in Malham, north of Riyadh. It is organized under the patronage of the Ministry of Municipalities and Housing in collaboration with the Real Estate General Authority (REGA) and the Housing Program. This initiative aligns with Saudi Vision 2030's objectives.

Minister Al-Hogail highlighted that local real estate developers participating in this edition have doubled to over 100. Additionally, international developers now number 69. He attributed this growth to increased real estate transactions, which have surpassed SAR630 billion since January. This sector plays a crucial role in diversifying Saudi Arabia's economy.

The exhibition is organized by Tahaluf, a joint venture involving the Saudi Federation for Cybersecurity, Programming, and Drones, the Events Investment Fund, and Informa, a global company. The event aims to create an attractive environment for real estate investment and foster sustainable development within the sector.

Cityscape Global 2024 features experts and specialists from various sectors. It includes the Real Estate Investors Forum, hosting 150 investors from 22 countries. The forum serves as a central hub for investment opportunities and aims to enhance cooperation in investment projects.

"It is indicative of the accelerated growth of the Saudi real estate sector," said Minister Al-Hogail. "This support has contributed to establishing an attractive real estate investment environment essential for developing a sustainable future in the real estate sector."

The event underscores its importance as one of Saudi Arabia's most significant economic engines. By attracting both local and international developers, it strengthens economic diversification efforts aligned with national goals.

With inputs from SPA