"The Future of Real Estate" concludes its activities by emphasizing the role of economic alliances and partnerships between the public and private sectors in developing the economy.

Monday 08 June 2026
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The “Future of Real Estate Forum,” held in Riyadh, concluded its work with the participation of more than 100 speakers across 40 sessions and workshops over two days, under the patronage and in the presence of His Excellency the Minister of Municipal and Rural Affairs and Housing, Majid bin Abdullah Al-Hogail, and with the participation of a number of specialists from the public and private sectors. Participants emphasized the role of economic alliances between companies and institutions and partnerships between the public and private sectors to develop the national GDP in a way that achieves the Kingdom’s Vision 2030 and meets the aspirations of citizens.

During a session titled "Quality of Life and Empowering the Private Sector in the Real Estate Sector" on the second day of the forum, a number of real estate sector specialists discussed the future of the real estate entertainment industry and the application of quality of life standards in projects. The aim is to achieve advanced global rankings and fulfill the objectives of the Kingdom's Vision 2030, which seeks to have three Saudi cities among the top 100 cities worldwide.

The CEO of Ajdan Real Estate Development Company, Engineer Mohammed Al-Otaibi, explained that the Kingdom’s Vision 2030 has paved the way for real estate developers to contribute to raising the quality of life for families within residential complexes within cities. The regulations and procedures introduced by the Ministry of Municipal and Rural Affairs and Housing in the sector have also contributed to raising the efficiency of developers, preserving the rights of beneficiaries, and raising the level and quality of life within projects, which has enhanced the returns on investment for developers.

He pointed out that the legislative controls put in place by the Ministry have contributed to increasing the real estate supply by more than 10 times what was provided previously, by taking advantage of modern building systems that accelerate the construction process with high quality to meet the continuous demand for units in partnership with real estate developers from the private sector, in order to achieve the objectives of the Kingdom’s Vision 2030 to raise the rate of residential ownership.

Robert Hoffman, CEO of the Real Estate Alliance Company, confirmed that the mature partnership approach established by the Kingdom’s Vision 2030, in partnership and cooperation with all government agencies and the private sector, has contributed to increasing local content in the sector to more than 60%, as well as increasing the number of Saudi workers in the sector to 70%.

Abdullah Al-Rumaih, Vice President of Jazeera Paints Company, pointed to the role of integrating efforts between legislative bodies and the private sector in raising the quality of housing options provided to citizens, noting that the real estate system is linked to more than 120 economic activities, and praising the efforts made to facilitate real estate development work in the Kingdom by providing various facilities and enablers.

Yahya Siraj, Head of Partnerships and Real Estate Development Operations at the National Housing Company, stated that the effective partnership with real estate developers, by activating the role of the private sector in participating in enabling Saudi families to own homes, has helped in implementing more than 110,000 housing units in 17 cities and enabling more than 56,000 families to own their first home. More than 7,000 units have been delivered, and efforts continue to deliver units on a daily basis.

Siraj touched on the quality of life implemented in Al-Jawan suburb, one of the largest residential suburbs in the Kingdom, and the role of suburbs in creating a new concept of housing that includes all health, educational and commercial services and facilities, in addition to green spaces and sports and entertainment centers to enhance the quality of life. He pointed to the National Housing Company’s efforts to increase the real estate supply to reach 300,000 housing units to provide diverse housing options that meet the needs of beneficiaries in terms of spaces and prices, which are implemented by 500 real estate developers, which has contributed to creating more than 40,000 jobs in the real estate sector.

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The Kingdom of Saudi Arabia