The Minister of Municipalities and Housing presents at the Qatar Real Estate Forum the urban and digital transformation in the Kingdom and the comprehensive real estate empowerment experience.

Monday 08 June 2026
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His Excellency the Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al-Hogail, participated in the third Qatar Real Estate Forum, which was held in the Qatari capital, Doha, where the Kingdom of Saudi Arabia was the main guest of the forum within a high-level ministerial session that discussed “the roadmap of the real estate sector towards achieving Vision 2030.”

During the session, His Excellency reviewed the urban, regulatory, and digital transformation that the Saudi real estate sector has witnessed under the Kingdom's Vision 2030, stressing that the Gulf countries are currently experiencing a qualitative shift in attracting capital, talent, and job opportunities, in parallel with changing lifestyles and the needs of new generations of residents, such as Generation Z. and Alpha This requires the development of new models of societies and cities that place human beings and quality of life at their core.

Al-Haqil explained that the challenge in the past was to provide housing, while today the challenge is to provide happiness for those who live within these communities, which led to the development of a comprehensive real estate system that links the landowner, the developer, the service provider, the facilities management, and the real estate broker into one more balanced and effective system.

He explained that the Kingdom’s Vision 2030 launched a new phase in which the Kingdom moved from managing the market to enabling it, through flexible legislation, economic integration, and digital transformation that raised the efficiency of services and the speed of completion, and completely reshaped the real estate experience.

His Excellency added that the Kingdom, since 2016, has been working on establishing the National Housing Company ( NHC). To be the largest executive arm for urban development, in addition to developing the Wafi program as a regulatory arm for off-plan sales, which enabled more than 100 national developers to implement huge projects with global standards, noting that NHC It has become the main hub for major projects in partnership with local and international developers, confirming the signing of a new agreement with Qatari Diar to expand its presence in the Saudi market within the framework of quality Gulf partnerships.

Regarding financing, Minister Al-Haqil emphasized that real estate financing has become the cornerstone of successful and sustainable real estate development. He noted that its volume in the Kingdom has increased from approximately 200 billion riyals to over 900 billion riyals in 2025, and that it now represents 27% of the total portfolios of Saudi banks. He also mentioned the Saudi Real Estate Refinance Company ( SRC). Issues were launched in the London financial market to support the integration of financing between local and international markets.

His Excellency touched upon the Saudi Architecture Initiative launched by His Royal Highness the Crown Prince – may God protect him – stressing that it represents a transition from physical construction to building identity, through the formulation of 19 Saudi architectural identities that reflect the diversity of the Kingdom’s regions and their cultural and civilizational richness, so that the visitor in each city feels its architectural distinction and its connection to its history and status, noting that Saudi cities have allocated 10% of their areas for “free” architectural experiments that promote diversity and creativity within the local character.

Regarding digital transformation, the minister explained that the Kingdom's cities are witnessing tangible progress in building smart cities and digitally transforming services, with six Saudi cities now among the top 100 smartest cities globally, according to the IMD index. The strength of the digital infrastructure has enabled the complete digitization of real estate transactions, transforming real estate into an investment and savings asset with new products, supported by innovation platforms such as NHC Innovation. .

His Excellency affirmed that the Kingdom, with the support of its wise leadership, is proceeding with strengthening institutional transformation and economic empowerment in a way that ensures the sustainability of real estate growth, achieves a balance between supply and demand, and improves the quality of life in cities.

The minister concluded his remarks by emphasizing that Gulf integration in the real estate sector is a fundamental pillar for building a more mature and sustainable regional market, praising the State of Qatar for its excellent organization and hosting of the forum, and for providing a platform to enhance cooperation, exchange experiences, and build strategic partnerships that contribute to shaping a more sustainable, distinctive, and integrated Gulf urban future.

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The Kingdom of Saudi Arabia