Today, His Excellency the Minister of Municipal, Rural Affairs and Housing, Mr. Majid bin Abdullah Al-Hogail, inaugurated the work of the third edition of the Real Estate Future Forum in Riyadh during the period from 22 to 24 January under the slogan “The Power of Flexibility... Building a Sustainable and Prosperous Real Estate Future,” with the participation of more than 85 country and 300 speakers representing the government and private sectors, in addition to an elite group of economists, investors, decision-makers, and experts in the real estate sector system at the local and international levels.
The third edition of the Future of Real Estate Forum’s work stems from the importance of the real estate sector as one of the economically and socially effective development sectors, and as an extension of the forum’s vital role in opening new horizons of knowledge and exchanging local and international expertise and experiences, in light of the global real estate and urban renaissance the Kingdom is witnessing through its major and diverse projects. And its continuous development efforts.
The forum is an opportunity to review many success stories, in addition to examining and discussing global best practices and the latest technologies and ways to activate them, and to contribute to promoting sustainable development towards a more developed and brighter future. Through more than 30 dialogue sessions and 25 workshops discussing a group of important strategic topics, which focus on new innovations in the real estate industry, the most prominent challenges, new opportunities and emerging trends in the sector, in addition to discussing sustainable financing solutions, the impact of natural factors on the real estate industry, and its role in Improving business quality.
The goals of the Future Real Estate Forum 2024 are multiple, including, for example:
· Developing into an intellectual, scientific and strategic gathering and an international platform that uses a distinctive scientific methodology to discuss the reality and future of the real estate sector. It also adopts a new approach to bring all discussion points to life by taking into account the most successful global experiences in an effort to support the growth and strengthen the future of the sector.
· Supporting the goal of enhancing the efficiency of real estate businesses, especially small and medium-sized companies.
· Utilize industry best practices to identify growth areas that will increase the number of employment opportunities for young people across the sector.
· Share national experiences and best practices from around the world to help this rapidly evolving industry continue to grow.
The speakers discussed a set of updated real estate legislation and systems, most notably modern regulations, in-kind registration, the real estate brokerage system, and other relevant regulations that in turn work to enhance and support the reliability of real estate, and improve the investment and competitive environment in its various fields, in addition to discussing the details of the digital transformation in the real estate system that has yielded results. About employing modern technical applications that have contributed to raising the efficiency of the property, increasing its value, and increasing its competitiveness, and have also increased the value of the real estate market, in terms of speed of completion and the necessary efficiency.
A number of state officials, along with a number of heads of several leading real estate companies, institutions, and entities, spoke about real estate strategies and regulations, and real estate development efforts related to the relevant ministries and bodies, as well as officials of relevant and interested parties, and their efforts to further advance the real estate sector. Effectiveness, which is consistent with the comprehensive strategy for the real estate sector in the Kingdom.