Discover Future Trends at Cityscape Global 2024 in Riyadh
Cityscape Global 2024 reaches its most important milestone as the premier real estate exhibition welcomes visitors in Riyadh. Industry leaders, developers, and investors worldwide have gathered to showcase their game-changing real estate projects and state-of-the-art solutions.
Riyadh has become the new center for this prestigious exhibition. This change expresses Saudi Arabia’s growing influence in the global real estate sector. The exhibition arranges with Saudi Vision 2030 goals. Major developments like MASAR show the kingdom’s dedication to urban growth. Visitors can find smart city initiatives and green development projects. New investment opportunities await in Saudi Arabia’s faster-growing real estate market. The event showcases the latest technology, new projects, and mutually beneficial alliances that will change the region’s real estate future.
Cityscape Global 2024 Highlights
Cityscape Global’s second edition in Riyadh broke all previous records with major investment announcements and new offerings. His Excellency Majed bin Abdullah Al-Hogail, the Minister of Municipalities and Housing, led the inauguration that marked the beginning of significant real estate developments throughout Saudi Arabia.
Record-breaking investment announcements
The exhibition deals reached SAR 180 billion (AED 176.26 billion), which is a big deal as it means that the previous year’s figures grew by 50%. The National Housing Company (NHC) dominated the announcements with SAR 142 billion in deals. Retal Urban Development pledged SAR 14 billion toward projects in Riyadh and Al Khobar. Mohammed Al-Habib Company showed its “Enar” residential-commercial project worth SAR 5 billion.
Expanded exhibition space and new segments
The 2024 edition covers 45,000 square meters with two additional halls. This expansion allows space for several innovative segments:
- Stadiums & Mega Events
- Sustainable Smart Cities
- Hotel Development
- Next-Generation Construction Technologies
Seven specialized conferences and 20 dedicated tracks offer more than 150 hours of expert-led content that explains the future of real estate development.
Key participants and foundation partners
The event draws 400 exhibitors from 50 countries, with 100 local and 96 international developers. Major institutional investors like BlackRock, Brookfield, Apollo Global Management, and BNP Paribas are learning about partnership opportunities that line up with Vision 2030 objectives. The Ministry of Municipalities and Housing (MOMAH) and the Real Estate General Authority (REGA) support the exhibition through their cooperative efforts. This strong government support helps accelerate the sector’s development.
Future of Living: Smart Cities and Innovation
Cityscape Global 2024 presents a vision of ‘The Future of Living’ and showcases urban breakthroughs that shape real estate development throughout the region. This premier event brings together 500+ industry speakers who deliver 180 hours of exclusive content about forward-thinking city strategies.
Smart city initiatives showcased
Former Lord Mayors of Dublin and Adelaide presented their cities’ successful smart implementations. Dublin’s Daithi de Roiste showcased the city’s inclusive urban development that improved wheelchair accessibility and created sensory-friendly city events. Stephen Yarwood demonstrated Adelaide’s digital transformation experience with the world’s largest free Wi-Fi network. The city’s innovative urban space usage led to a 30% increase in outdoor dining areas.
PropTech and ConTech startups
The PropTech Conference stands as the life-blood of the exhibition and showcases advanced technological advancements:
- Blockchain and tokenization solutions for real estate
- Automated property management systems
- Digital real estate marketplaces
- AI-powered networking platforms
- ESG-focused property technology
60 PropTech and ConTech startups compete in the Cityscape Innovation Challenge through a Shark Tank-style finale. These participants demonstrate solutions that range from eco-friendly construction technologies to smart building management systems.
Sustainability and urban planning discussions
Dr. Ali AlAli, Head of Innovation & Technology at Public Investment Fund, and Farah Naz, Director of ESG & Innovation at AECOM Middle East and Africa, lead vital talks about sustainable urban development. Students and recent graduates now face ground architectural challenges in the first Cityscape Future Leaders Competition that focuses on eco-friendly solutions.
Smart city initiatives line up with Vision 2030 goals to boost innovation and eco-friendly development in Saudi Arabia’s digital world. Government officials work with industry leaders to build an ecosystem. Their mutually beneficial alliances and investments support these transformative projects.
Saudi Arabia’s Real Estate Market Growth
Saudi Arabia’s real estate sector shows remarkable growth as transactions hit AED 616.92 billion in early 2024. Strong market performance highlights the kingdom’s successful economic diversification strategy and boosts investor confidence.
Increase in local and international developers
Real estate development shows a remarkable upswing lately. Local developers have doubled their presence to more than 100 entities. The number of international developers grew substantially to 69 companies. Major urban centers demonstrate this growth pattern clearly. These developers now create innovative residential and commercial projects that line up with modern living standards.
Rising real estate transactions
Market momentum showed remarkable results in major cities during the first half of 2024:
- Riyadh: 51.6% increase in residential transactions
- Jeddah: 43.2% growth in property sales
- Dammam Metropolitan Area: 22.4% rise in market activity
Riyadh’s apartment prices have managed to keep positive yearly movements since Q3 2020. Sales values have climbed approximately 11.7% annually in the last four years. The market now commands an average rate of SR5,000 per square meter.
Government initiatives driving sector growth
Vision 2030’s housing initiatives have revolutionized the market. The Saudi government created mutually beneficial alliances to stimulate sector growth:
| Initiative | Impact |
|---|---|
| Sakani Program | Benefited over 210,000 families in 2021 |
| Mortgage Reform | Down payment reduced from 30% to 5% |
| Foreign Ownership | 137% increase in foreign investments (2015-2023) |
The Saudi Real Estate Refinance Company (SRC) wants to refinance 20% of the residential mortgage market by 2025. Homeownership rates have reached 63.74%, showing a 16.7% increase since 2016. These numbers prove we have a long way to go, but we can build on this progress toward Vision 2030’s target of 70% homeownership by the end of the decade.
Investment Opportunities and Project Launches
Deals worth AED 175.90 billion were revealed at Cityscape Global 2024 and this represents a 50% increase from last year’s event.
Major project announcements
Leading developers have launched their most important projects in various sectors. Reportage Properties now offers special investment packages in four countries:
- Egypt: Montenapoleone project with 15% discount and 1% monthly installments
- Saudi Arabia: Najd 2 project offering 10% discount
- UAE: 12 projects in Abu Dhabi and Dubai with 5-15% discounts
- Turkey: Cash payment discounts up to 40% on select projects
International investor participation
The Real Estate Investors Forum draws attention from 150 investors across 22 countries and is a vital platform for global investment discussions. The global representation has participants from diverse regions:
| Region | Investment Focus |
|---|---|
| Europe | Smart city development |
| Asia | Commercial projects |
| Americas | Mixed-use developments |
| GCC | Residential complexes |
Networking and business opportunities
This exhibition has evolved into a complete business platform that created an economic boost of AED 807.87 million for Saudi Arabia. The event showcases:
- AI-powered networking application that links investors with developers
- Exclusive Hosted Buyers program to enable direct business meetings
- 480+ scheduled meetings with institutional investors
- 30% of participants who show interest in international property investments
Major deals closed at the exhibition prove Saudi Arabia’s appeal as a leading investment hub. The kingdom manages 5,000 active construction projects and aims to develop 1.2 billion square meters of built-up area by 2030. These developments create substantial opportunities for local and international investors alike.
Cityscape Global 2024 marks a key milestone in Saudi Arabia’s real estate journey. The event has attracted investments of SAR 180 billion and brought together 400 exhibitors from 50 countries. Moving to Riyadh with its expanded 45,000-square-meter space shows Saudi Arabia’s growing strength as a global real estate hub. The event highlights smart city projects, green practices, and tech innovations that shape the kingdom’s urban development plans.
Saudi Arabia’s real estate market keeps growing stronger with solid government support and investor trust. Local developers are more active now and international investors show keen interest. This makes the kingdom an attractive destination for real estate growth and investment. These changes support Vision 2030’s goals and point to a bright future for Saudi Arabia’s cities with innovative solutions, green practices, and better living standards.
