The Global Proptech Summit, held by the Real Estate General Authority in partnership with the National Housing Company, kicked off today (October 27) in Riyadh, bringing together prominent figures, experts and specialists in the real estate industry and technology from 80 countries.

 

Minister of Municipalities and Housing Majed Al-Hogail attended the opening ceremony, where he underscored the significance of the event, which helps keep pace with developments in the local, regional, and international real estate sector.

 

He emphasised the kingdom's commitment to transforming Riyadh into a global hub for real estate technology, to advance the real estate sector, create new investment opportunities, and leverage these technologies to drive the digital transformation, reported SPA.

 

He also stressed that the digital transformation is a "crucial component of the Kingdom's vision", and the goal of enhancing the quality of life and improving service efficiency for citizens, residents, visitors, and investors. 

 

This endeavor, he added, aims to help the housing sector progress, and to foster innovation in urban planning and real estate development.

 

The first day of the summit witnessed several key launches and agreements concluded today to advance the real estate technology, including a cooperation agreement between the Real Estate General Authority and the National Technology Development Program, aimed at attracting accelerators that use best international practices, and supporting and promoting technology companies involved in the sector by providing essential incentives and guidance to help them launch their businesses.

 

The two-day summit sessions will delve into various topics, including innovation and entrepreneurship in the real estate, the power of 3D printing, and the role of virtual reality and AI technologies in automating real estate operations and services.

 

A real estate technology exhibition accompanies the summit; it features a variety of startups, innovative companies, and real estate platforms, both local and international, that showcase cutting-edge innovations and highlight the industry experience and future visions.