TLDR:
Cityscape Global nets $61bn in deals
Over 172,000 attend Riyadh event
Strategic agreements reach $7.9bn
RIYADH (The Thursday Times) — Cityscape Global 2024, the world’s largest real estate exhibition, concluded in Riyadh with record-breaking success, drawing more than 172,000 visitors and over 400 exhibitors to the Riyadh Exhibition and Convention Center. The four-day event saw remarkable achievements, including real estate transactions surpassing SAR230 billion ($61 billion) and strategic agreements totalling SAR30 billion ($7.9 billion). This year’s theme, ‘The Future of Living,’ captured the ambitions of Saudi Vision 2030, as international and local stakeholders alike converged to discuss and invest in the kingdom’s booming real estate sector.
Under the patronage of the Ministry of Municipalities and Housing and supported by the Real Estate General Authority (REGA) and the Housing Program, Cityscape Global brought together 550 speakers from over 50 countries. Industry leaders, policymakers, and experts exchanged insights on innovations shaping the future of housing and urban development. Organised by Tahaluf—a joint venture between the Saudi Federation for Cybersecurity, Programming, and Drones, the Events Investment Fund, and global events leader Informa—the event aimed to foster partnerships and spark investments that align with the kingdom’s transformative vision.
International collaboration and investment
Cityscape Global 2024 attracted a diverse group of exhibitors, with international participants making up nearly half of the attendees. Local and global companies, real estate developers, and investors seized the opportunity to showcase projects and collaborate on new ventures. The high international turnout underscored Riyadh’s growing influence as a real estate hub, showcasing Saudi Arabia’s commitment to developing world-class infrastructure and communities.
With strategic agreements totalling SAR30 billion ($7.9 billion), the exhibition marked a new high for cross-border partnerships in the sector. These agreements reflect an eagerness among global firms to participate in Saudi Arabia’s economic transformation, while also supporting the ministry’s mission to create vibrant, sustainable communities under Vision 2030. The event’s success was a testament to the potential for further collaboration and innovation in the region.
Vision 2030: redefining the future of real estate
Cityscape Global 2024 not only highlighted immediate real estate transactions but also pointed towards long-term transformation within the sector. Minister of Municipalities and Housing Majed Al Hogail praised the event’s success, emphasizing its role in achieving the ministry’s goals within Vision 2030. With an agenda centred on enhancing the quality of life and driving sustainable urbanisation, the ministry’s objectives were well-reflected in the discussions and deals secured at Cityscape.
Chairman of Tahaluf, Faisal Al Khamisi, noted the impressive turnout and engagement, attributing the success to a unified effort among Saudi organisations and global partners. This synergy between local and international players is anticipated to accelerate growth, encourage innovation, and open doors for future development in housing and real estate.
Building a vibrant future in Riyadh
As Riyadh solidifies its role as a focal point for regional real estate, Cityscape Global 2024’s achievements underline the city’s potential as a destination for investment and development. Real Estate General Authority CEO Abdullah Al Hammad highlighted the SAR20 billion ($5.3 billion) in sales achieved by developers at the exhibition, further underscoring the high demand for real estate in Saudi Arabia.
The event’s outcomes echo Saudi Arabia’s ambitious plans to reshape its urban landscape, demonstrating the kingdom’s determination to foster a vibrant and future-ready real estate environment. With Cityscape Global 2024 now concluded, the successes and investments secured at the exhibition stand as a significant milestone in Saudi Arabia’s journey towards Vision 2030.
