Cityscape Global 2024, the world’s largest real estate exhibition, concluded yesterday at the Riyadh Exhibition and Convention Center in Malham, north of Riyadh, with total real estate transactions surpassing SAR230 billion, according to officials from the Ministry of Municipalities and Housing. The four-day event, held under the theme “The Future of Living,” was organized under the patronage of the Ministry of Municipalities and Housing, in partnership with the Real Estate General Authority (REGA) and the Housing Program, a key initiative of Saudi Vision 2030, and Tahaluf, a joint venture of the Saudi Federation for Cybersecurity, Programming, and Drones, the Events Investment Fund, and the global company Informa.
Context and Background
Cityscape Global has become a cornerstone event for the global real estate industry, drawing attention to Saudi Arabia’s rapidly evolving property market. The second annual edition built on the success of the inaugural event, showcasing the Kingdom’s commitment to transforming its housing and urban development sectors as part of its broader economic diversification goals under Vision 2030. The Riyadh Exhibition and Convention Center provided a platform for local and international stakeholders to explore opportunities in a market driven by large-scale projects and government initiatives.
Key Details and Achievements
The closing ceremony featured Minister of Municipalities and Housing, Majed Al-Hogail, and Tahaluf Chairman Faisal Al-Khamisi, alongside housing leaders and officials. Al-Hogail highlighted the event’s achievements, stating that the volume of investments and agreements reflects the sector’s ongoing growth and aligns with the ministry’s strategic objectives. Al-Khamisi noted that attendance and success had doubled, with over 172,000 visitors and more than 400 exhibitors, including international participants making up 47%. About 550 speakers from over 50 countries contributed to the event. REGA Chief Executive Abdullah Al-Hammad announced that sales by local and international developers surpassed SAR20 billion, while strategic agreements exceeded SAR30 billion, contributing to the total transaction value of over SAR230 billion.
Implications and Regional Impact
The scale of transactions at Cityscape Global 2024 underscores Saudi Arabia’s emergence as a global real estate hub, attracting significant international investment and expertise. The active participation from both local and global stakeholders signals confidence in the Kingdom’s economic stability and growth prospects. This event reinforces Saudi Arabia’s role as a leader in regional urban development, with implications for job creation, infrastructure expansion, and the overall attractiveness of the Saudi market to foreign investors.
Vision 2030 Alignment
Cityscape Global 2024 directly supports Saudi Vision 2030’s goals of diversifying the economy and enhancing the quality of life for citizens and residents. By fostering a vibrant real estate sector, the Kingdom is advancing its objectives of increasing homeownership, developing sustainable cities, and creating investment opportunities. The event’s success demonstrates the government’s commitment to public-private partnerships and innovation in housing, laying the groundwork for a resilient and prosperous urban future aligned with the nation’s long-term aspirations.
20 Questions
Q1. What was the total value of real estate transactions at Cityscape Global 2024?
A1. The total value of real estate transactions at the exhibition exceeded SAR230 billion, as announced by REGA Chief Executive Abdullah Al-Hammad at the closing ceremony.
Q2. Where was Cityscape Global 2024 held?
A2. The event was held at the Riyadh Exhibition and Convention Center in Malham, north of Riyadh, a key venue for international exhibitions in Saudi Arabia.
Q3. Who organized Cityscape Global 2024?
A3. It was organized under the patronage of the Ministry of Municipalities and Housing, in partnership with REGA, the Housing Program, and Tahaluf.
Q4. What was the theme of Cityscape Global 2024?
A4. The theme of the event was “The Future of Living,” reflecting a focus on innovative housing and urban development solutions aligned with Vision 2030.
Q5. How many visitors attended Cityscape Global 2024?
A5. The event attracted over 172,000 visitors, according to Tahaluf Chairman Faisal Al-Khamisi, demonstrating strong public and professional interest.
Q6. How many exhibitors participated in Cityscape Global 2024?
A6. More than 400 exhibitors took part, including major local and global companies, with international participants making up 47% of the total.
Q7. How many speakers contributed to Cityscape Global 2024?
A7. About 550 speakers from more than 50 countries, comprising top experts and industry leaders, contributed to the event.
Q8. Who spoke at the closing ceremony of Cityscape Global 2024?
A8. Minister of Municipalities and Housing Majed Al-Hogail and Tahaluf Chairman Faisal Al-Khamisi spoke, along with REGA Chief Executive Abdullah Al-Hammad.
Q9. What did Minister Majed Al-Hogail say about the event?
A9. He highlighted the remarkable achievements and noted that the volume of investments underscores the sector’s growth and aligns with the ministry’s strategic objectives within Vision 2030.
Q10. What did Tahaluf Chairman Faisal Al-Khamisi say about attendance?
A10. He noted that attendance and success had doubled thanks to the combined efforts of participating and organizing entities.
Q11. What was the value of sales by local and international developers at Cityscape Global 2024?
A11. Sales by local and international developers at the exhibition surpassed SAR20 billion, as announced by REGA Chief Executive Abdullah Al-Hammad.
Q12. What was the value of strategic agreements at Cityscape Global 2024?
A12. Strategic agreements between various entities exceeded SAR30 billion, contributing to the overall transaction total at the exhibition.
Q13. What is the role of the Housing Program in Cityscape Global?
A13. The Housing Program, a key initiative of Saudi Vision 2030, partnered in organizing the event to promote homeownership and housing development.
Q14. How does Cityscape Global support Saudi Vision 2030?
A14. The event supports Vision 2030 by boosting the real estate sector, attracting investment, and advancing goals of economic diversification and improved quality of life.
Q15. What is Tahaluf’s role in Cityscape Global?
A15. Tahaluf, a joint venture, was an organizing partner, bringing together expertise from the Saudi Federation for Cybersecurity, the Events Investment Fund, and Informa.
Q16. How did international participation contribute to Cityscape Global 2024?
A16. International participants made up 47% of exhibitors, and speakers from over 50 countries shared expertise, enhancing the event’s global appeal.
Q17. What is the significance of Cityscape Global for Saudi Arabia’s real estate market?
A17. The event showcases the Kingdom’s growing real estate market, attracting global investors and highlighting large-scale projects aligned with Vision 2030.
Q18. Did Cityscape Global 2024 have any regional impact?
A18. Yes, the event reinforced Saudi Arabia’s role as a regional leader in urban development, attracting investment and expertise from across the Middle East and beyond.
Q19. What types of agreements were signed at Cityscape Global 2024?
A19. Strategic agreements between various entities, including government agencies and private companies, were signed, focusing on real estate development and innovation.
Q20. How does Cityscape Global contribute to the quality of life in Saudi Arabia?
A20. By promoting modern housing solutions and urban planning, the event supports Vision 2030’s goal of enhancing living standards for citizens and residents in the Kingdom.
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