Saudi Minister of Municipal, Rural Affairs and Housing and Chairman of the Real Estate General Authority, Majid Al-Hogail, said that the results achieved at the Cityscape Expo reflect the strength of Saudi Arabia’s real estate sector and the development of its investment environment, noting that more than SAR 237 billion in real estate deals were concluded during the days of the exhibition.
He added, during the closing ceremony of the Cityscape Global Exhibition in Riyadh, that these results confirm the credibility and attractiveness of the Saudi real estate sector, as well as the path the Kingdom is pursuing in developing the sector and advancing its cities. He pointed out that this achievement reflects the integration of efforts between government entities and the private sector and embodies the promising opportunities the Kingdom offers to investors from inside and outside the country.
The Housing Program succeeded in raising the homeownership rate among citizens to 65.4% by the end of 2024, surpassing the 2025 target of 65%, thanks to regulatory and legislative reforms that enhanced the appeal of the real estate market and attracted substantial investments.
These achievements reflect the leadership’s strong commitment to meeting citizens’ aspirations and ensuring the provision of suitable housing in line with the goals of Saudi Vision 2030.
