Riyadh is gearing up to host the Cityscape Global exhibition on Monday, showcasing over 100,000 housing units across various projects. Financing options feature attractive interest rates, starting as low as 2.59%. Furthermore, visitors can access substantial discounts reaching up to SAR 100,000, equivalent to approximately $26,600, on selected developments. This year’s event also hosts one of the Middle East’s largest real estate auctions, valued at over SAR 1 billion, which is around $266.6 million.
Abdullah Al-Hammad, CEO of the General Real Estate Authority, shared insights during the introductory meeting in Saudi Arabia’s capital. He emphasized that hosting this significant real estate event highlights the economic momentum propelled by Vision 2030 initiatives. This major exhibition aims to showcase lucrative investment opportunities while delivering comprehensive insights into prevailing real estate market trends.
Mega-Projects at the Forefront of the Exhibition
The exhibition focuses on Saudi Arabia’s ambitious mega-projects, featuring participation from over 400 exhibitors and 100 institutional investors. Additionally, more than 500 leaders from the global real estate sector are expected to attend. Al-Hammad stated this gathering would facilitate access to diverse investment avenues within the national real estate market. Consequently, it will enhance foreign investment and bolster economic diversification efforts.
Al-Hammad highlighted that the previous Cityscape exhibition attracted more than 160,000 visitors. Furthermore, it secured investment projects and agreements valued at over SAR 110 billion, amounting to about $29 billion. Among this, foreign investments accounted for $19 billion. This year, expect a 50% increase in transactions, projects, and agreements, demonstrating significant growth potential.
Attracting Global Real Estate Industry Leaders
Abdulrahman Altawil, Deputy Minister for Residential Supply Stimulus and Real Estate Development, discussed the exhibition’s goal in an interview with Asharq Al-Awsat. He stated that Cityscape will host leading global figures from various real estate sectors including development, design, and operations. Over ten international developers already launched projects within Saudi Arabia, with hopes of attracting more in collaboration with local partners.
Altawil affirmed that Saudi Arabia’s real estate and investment environment offers enticing opportunities. The ministry actively works on creating a landscape that attracts diverse global companies to invest within the Kingdom. The exhibition will showcase prominent experts and CEOs, including a Real Estate Investors Forum with 150 investors from 22 countries.
This forum’s primary goal is to strengthen collaboration on investment projects, establishing itself as a central hub for opportunities and investments.
