The Minister of Municipalities and Housing sponsors the launch of the World Probiotic Summit
The Minister of Municipalities sponsored And HousingChairman of the Board of Directors of the General Real Estate Authority, Mr. Majid bin Abdullah Al-Hogail, launch of the World Protech Summit "The Global Proptech Summit 2025"held by the General Assembly For real estatein the capital, Riyadh, with the participation of prominent figures, experts and specialists in the real estate industry and real estate technologies, and international speakers representing 85 countries from around the world.
His Excellency the Minister stressed during his speech at the opening of the World Protech Summit the importance of the summit, which comes in conjunction with the great movement witnessed by the local, international and regional real estate sector at all levels, and that the Kingdom is continuing Steadily towards achieving the goals of the Kingdom’s Vision 2030, which aims to attract $100 billion in foreign direct investment annually.
He pointed out that achieving this goal requires systems and technologies that rise to the highest international standards of transparency and speed.
Global Center
His Excellency stated that Riyadhhas become a global center for talking about the future of real estate finance, as confidence in technology and strategic vision are integrated, making the Kingdom an ideal environment for attracting qualitative investments and enabling innovation in the real estate sector, praising the role of the experimental regulatory environment (Sandbox), one of the initiatives of the Saudi Proptech Center Sph, in attracting local and international companies with diverse business models, including 4 companies in The field of partial ownership and 4 companies in real estate coding.
He stressed that this step enhances the construction of an advanced technical real estate system that supports sustainability and economic growth.
It witnessed "Top" At its inauguration, there were a number of launches and 30 agreements, including agreements with amounts exceeding 15 million riyals serving the real estate technology sector. The agreements included the signing of the General Real Estate Authority, represented by the Saudi Real Estate Institute, cooperation agreements with a number of entities in the financial sector, including SABB First Bank, Riyad Bank, Alinma Bank, Al Jazira Bank, and Bank Al Bilad, with the aim of developing national competencies in the fields of real estate financing, and qualifying brokers and workers in the real estate sector through specialized training programs. Enhancing the quality of services and keeping pace with real estate development requirements, in addition to signing a cooperation agreement between the General Real Estate Authority and The Garage Information Technology Company. With the aim of developing a joint service directed to real estate developers, which contributes to addressing challenges, exchanging experiences, and developing innovative practical solutions that support the quality and efficiency of real estate services.
Sessions are discussed "Top" Which lasts for two consecutive days, the legislative system for real estate technology, innovation and entrepreneurship in the future of real estate technology, the power of 3D printing technology from plan to reality, and the role of virtual reality technologies and artificial intelligence in creating the future of real estate and automating its operations and services, in addition to talking about solutions. "Probiotic" In urban development and making smarter decisions that contribute to developing investments and enhancing financial sustainability.
And the owner "Top" A real estate technology exhibition included the participation of more than 100 emerging and innovative companies, real estate platforms, and local and international technology, through which they showcased real estate technology innovations, the next generation, and future experiences and visions for the industry in light of rapid technological progress, in a way that enhances the achievement of the strategic directions of the real estate sector in the Kingdom and its leadership in line with the Kingdom’s Vision 2030.
It is noteworthy that the global summit Protech comes in conjunction with the boom that the Saudi real estate market is witnessing, making it more in demand for innovative solutions that meet the needs and requirements of rapid population growth, smart city initiatives, and ambitious development projects taking place in various regions of the Kingdom to build modern and sustainable urban communities.
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