Al-Haqil: The real estate brokerage system supports the real estate sector, and work is underway to attract foreign investment to the sector.

Monday 08 June 2026
الحقيل: نظام الوساطة العقارية داعم للقطاع العقاري والعمل قائم لاستقطاب الاستثمار الأجنبي للقطاع

His Excellency the Minister of Municipal and Rural Affairs and Housing, Mr. Majid bin Abdullah Al-Hogail, expressed his thanks and appreciation to Their Royal Highnesses the Princes and Their Excellencies the Ministers participating in the sessions of the Future of Real Estate Forum. This came at the beginning of His Excellency’s speech during his participation in the opening session of the forum with the participation of a number of Their Excellencies the Ministers, which was entitled “The Role of Emirates, Governorates and Ministries in Alignment to Empower the Real Estate Sector.”

During his speech, His Excellency praised the real estate brokerage system, noting that it will support the regulation of the sector to achieve greater transparency and increase its efficiency. He pointed out that the Ministry is about to reach an agreement soon with the Capital Market Authority on the real estate contributions system, especially in light of the success of real estate funds, as the Ministry is working with the Authority to regulate this field in the same way that it did previously in other systems such as (Ejar, Mulak, off-plan sales).

Al-Haqil explained that the banking sector, currently led by the Central Bank, is contributing to providing innovative products that reduce financing costs for developers and beneficiaries. His Excellency confirmed that the state established the Saudi Refinancing Company, a company owned by the Public Investment Fund, with the aim of helping this sector mature and injecting liquidity into the sector. His Excellency also revealed the establishment of the Guarantees Company to help developers and citizens who face difficulties in obtaining real estate financing.

His Excellency stated that the housing program is working to stimulate supply, noting that there are about 15 real estate developers capable of supplying more than 2,000 housing units per year, more than 80 developers with the potential to supply 500 to 2,000 housing units per year, and about 100 developers capable of supplying 500 housing units per year. His Excellency indicated that there are about 600 developers in the Wafi program capable of joining one of the three previous categories.

Al-Haqil revealed that the ministry is seeking development in partnership with the Ministry of Industry, noting that currently 60% of real estate projects use industrial technologies for ready-mix concrete, as the cooperation with the Ministry of Industry has resulted in achieving cost parity between traditional construction and the use of construction technologies, which reduces time and effort in construction.

His Excellency praised the National Housing Company and the important role it plays as an enabler of the real estate sector through 145 projects with real estate development companies worth more than 100 billion riyals, and more than 300 million square meters to organize the infrastructure to become an enabler and catalyst for real estate development.

Al-Haqil pointed out that work is underway to attract foreign investment to the real estate sector, stressing the Saudi market’s need for more investors in light of the increasing market demand. His Excellency also revealed that the leadership – may God protect it – has supported the Ministry to provide more land to meet the increasing demand.

It is worth mentioning that the second edition of the Future Real Estate Forum lasts for three days, with the participation of more than 30 countries and 100 speakers representing the public and private sectors, in addition to the participation of an elite group of economists, investors, decision-makers and experts in the real estate sector system, locally and globally, and its work includes a number of sessions and workshops, through which several topics covering the present and future of real estate are discussed.

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