• Cityscape Global 2024 launched in Riyadh, unveiling projects and agreements worth over USD 47.9 billion.
• The event saw a 50% rise in investment compared to last year, driven by rapid market growth.
• Local and international developer participation has surged, supported by real estate deals exceeding USD 167.7 billion.

Cityscape Global, the world’s largest real estate event, kicked off in Riyadh today, launching projects and strategic agreements worth over USD 47.9 billion, with more announcements expected.

The event, under the theme ‘The Future of Living,’ is taking place at the Riyadh Exhibition & Convention Centre in Malham, running until November 14.

Growing Investment and Sector Acceleration

Majed bin Abdullah Al-Hogail, Minister of Municipalities and Housing, inaugurated the event for audience of ministers, dignitaries, and industry leaders. Al-Hogail told Einnews the significant 50% rise in investment compared to last year’s opening day.

This growth reflects the rapid acceleration of Saudi Arabia’s property market. The growth is driven by the Kingdom’s commitment to creating a favorable investment climate.

Developer Participation in Cityscape Global

Al-Hogail also pointed out that the number of local developers at the event has doubled to over 100. The international developer participation has reached 96.

This surge in involvement is also supported by ongoing growth in real estate transactions.  The deals have exceeded $167.7 billion this year. That fact is solidifying real estate as a key driver in Saudi Arabia’s economic diversification.

Strategic Partnerships

Moreover, Cityscape Global 2024 is sponsored by the Ministry of Municipalities and Housing (MOMAH), in collaboration with the Real Estate General Authority (REGA), Vision 2030, and the Housing Program.

Organized by Tahaluf, the event is including the National Housing Company (NHC), NEOM, ROSH New Murabba, and King Abdullah Financial District (KAFD).