Riyadh, SPA: The 2nd edition of the “Real Estate Future Forum”, to be held from January 23 to 25, 2023 in Riyadh, will discuss several aspects related to the present and future of the real estate sector and the ongoing efforts to attract real estate investments, with the participation of around 30 countries, including Qatar, Oman, Kuwait, the UAE, Egypt, the UK, and France, under the patronage of the Minister of Municipal, Rural Affairs, and Housing, Majid bin Abdullah Al-Hogail.
One of the forum's sessions will address "The Future of Real Estate Investment" and the main pillars that made the real estate sector in the Kingdom attractive for investments, with the participation of a group of local and international speakers who will discuss the importance of attracting real estate investments to the Kingdom.
The speakers will tackle the most important factors motivating attracting local and foreign real estate investment, the Kingdom's efforts in this regard, and the role of private sector projects in partnership with the Ministry of Municipal, Rural Affairs and Housing in injecting hundreds of thousands of high-quality residential units and suburbs, which aim to raise the percentage of ownership to 70% in line with the objectives of the Kingdom's Vision 2030, thus contributing to building an attractive competitive environment that enhances the quality of services and stimulates parties concerned in the real estate sector.
Several pillars contribute to attracting real estate investments to the Kingdom, including the infrastructure, in addition to the initiatives, strategies, and giant projects launched by the Kingdom's government, including the comprehensive strategy for the real estate sector, which is based on the governance and sustainability of the real estate sector, as well as the effectiveness of the market, and partner service.
The Quality of Life program is also one of the factors that attracts foreign and local real estate investment, as the program aims to improve the quality of life for all residents in the Kingdom, by developing the necessary environment and creating more cultural, recreational, sports, tourism and urban activities with the participation of citizens, residents, and visitors.
Omani Minister of Housing and Urban Planning, Dr. Khalfan Al-Shuaili, who will participate in the forum, reiterated that holding the Real Estate Future Forum in Riyadh comes at a time when the real estate sector is witnessing rapid growth and qualitative transformations in various Gulf countries and the region, and its investments are witnessing significant growth, as this sector is a strategic option to diversify the portfolios of a large group of real estate companies and entities.
Meanwhile, the Chairperson and Managing Director of Administrative Capital for Urban Development (ACUD) in Egypt, Engineer Mahmoud Abbas, said “The forum is one of the prominent platforms in dealing with the future of real estate since its first edition, which was held last year,” adding that the importance of the forum is represented in its discussion of the challenges facing the real estate sector, which has contributed to providing thousands of job opportunities for young people, and how to develop its mechanisms and practices.
The Real Estate Future Forum targets several entities and organizations, from inside and outside the Kingdom, namely in government sectors concerned with real estate activity, as well as local and international specialized organizations and associations, building, construction, and development companies, specialized research and digital companies, banks, financing companies, investment funds, and the Federation of Chambers, and real estate committees in the Kingdom, and agencies related to real estate financing locally and abroad.