REGA CEO says Cityscape sees SAR 230B real estate deals

Abdullah Alhammad, CEO of REGA

The Cityscape Global 2024 saw the signing of strategic agreements worth more than SAR 30 billion, in addition to SAR 180 billion launches on Day 1, bringing the total value of deals to over SAR 230 billion, the state-run SPA reported, citing Abdullah Alhammad, CEO of the Real Estate General Authority (REGA).

The total sales of local and foreign developers at the exhibition surpassed SAR 20 billion.

Elsewhere, Minister of Municipalities and Housing Majed Al Hogail, said the achievements made at Cityscape Global 2024 reflect the ongoing commitment to developing the real estate sector and enhancing its appeal. The investments and agreements signed, along with the high level of active participation from both local and international entities, underscores the dynamic growth and continuous activity in the sector, aligning with the ministry's role and strategic goals under Saudi Vision 2030.

Al-Hogail affirmed that the outcomes of this significant global event, which hosts major companies and developmental projects, are part of the ministry’s ongoing efforts to grow the real estate sector and enhance its economic and social contributions.

These achievements reflect the ministry’s continued success in meeting expectations and driving sustained development within the real estate industry.