Riyadh: Saudi Minister of Municipal and Housing Affairs Majid Al-Hogail announced that real estate agreements and investment deals signed at Cityscape Global 2025 have surpassed SAR 161.2 billion (USD 43 billion). The event, hosted in Riyadh under the theme "The Future of Urban Living," will run until November 20. It serves as a global platform to showcase Saudi Arabia's architectural, urban, and economic transformation, providing opportunities for investors to contribute to the development of smart, human-centered cities.
According to Kuwait News Agency, Al-Hogail emphasized a significant shift in the role of Saudi and international developers, who are now considered key partners in shaping modern cities. By the second quarter of 2025, construction, building, and real estate activities accounted for 13.8 percent of the country's GDP and represented 15.5 percent of total employment. The minister highlighted the demand for more than 1.5 million housing units by 2030 in the five largest Saudi cities, with Riyadh alone requiring 731,000 units.
Al-Hogail also announced that real estate agreements exceeding SAR 161.2 billion would be finalized during the exhibition's first two days. On the real estate front, he mentioned that the General Real Estate Authority is developing three main indicators, set to be released in 2026, to help investors track market balance and understand pricing trends more accurately.
In a notable development, Al-Hogail unveiled the country's first tokenized real estate title deed and the launch of global standards for real estate tokenization. This positions Saudi Arabia among the pioneering nations in building a digital property infrastructure linked to official records. He concluded by praising the participants and organizers of Cityscape Global 2025, describing it as a national platform that aligns with the country's vision for smart cities and an innovation-driven real estate economy.
This year's exhibition has attracted more than 170,000 visitors, 550 exhibitors, and 470 global speakers, indicating the sector's evolving direction. The recently approved non-Saudi real estate ownership system is expected to open up significant foreign investment opportunities in the coming years.