2025-10-15
‘Gulf Co-Operation in Real Estate Sector Boosts Competitiveness in Global Markets’
CEO of the Real Estate General Authority (REGA) in the Kingdom of Saudi Arabia Eng Abdullah bin Saud al-Hammad emphasised that the future of the Gulf real estate market holds promising prospects, given the region's countries' drive toward greater policy integration and investment co-operation, which will foster a more competitive and sustainable regional environment.
In his remarks to Qatar News Agency (QNA) on the sidelines of 3rd Qatar Real Estate Forum, the CEO of REGA said that co-operation between Saudi Arabia, Qatar, and other Gulf states represents a pioneering model of strategic partnership and exchange of expertise, with the aim of building an integrated and sustainable Gulf market that contributes to supporting economic development in the entire region.
He added that Gulf co-operation in the real estate sector is based on the exchange of expertise and harmonisation of regulatory frameworks, thus enhancing confidence and competitiveness in the regional market.
In his remarks to Qatar News Agency (QNA) on the sidelines of 3rd Qatar Real Estate Forum, the CEO of REGA said that co-operation between Saudi Arabia, Qatar, and other Gulf states represents a pioneering model of strategic partnership and exchange of expertise, with the aim of building an integrated and sustainable Gulf market that contributes to supporting economic development in the entire region.
He added that Gulf co-operation in the real estate sector is based on the exchange of expertise and harmonisation of regulatory frameworks, thus enhancing confidence and competitiveness in the regional market.
He said that this does not mean unifying legislation in the mandatory sense, but rather developing an integrated framework of policies and regulations that serve economic and investment integration among the GCC states.
He pointed to growing Gulf interest in developing co-operation in real estate data, urban planning, and smart technologies, which would enhance the ability to anticipate market needs and plan future cities.
Eng al-Hammad expressed his aspiration to build joint platforms for exchanging knowledge and expertise in the fields of real estate technology, sustainability, and artificial intelligence. He also emphasised that the GCC states recognise the importance of building a shared knowledge and information infrastructure that contributes to making investment decisions based on modern scientific foundations.
He pointed to growing Gulf interest in developing co-operation in real estate data, urban planning, and smart technologies, which would enhance the ability to anticipate market needs and plan future cities.
Eng al-Hammad expressed his aspiration to build joint platforms for exchanging knowledge and expertise in the fields of real estate technology, sustainability, and artificial intelligence. He also emphasised that the GCC states recognise the importance of building a shared knowledge and information infrastructure that contributes to making investment decisions based on modern scientific foundations.
He pointed to an actual move to establish institutional frameworks for creating data exchange platforms and expertise centres that serve developers and investors, while simultaneously keeping pace with the challenges of urban planning and rapid population growth.
He pointed out that enhancing Gulf co-operation in the areas of real estate development, sustainability, and smart planning will benefit the economies of the GCC states collectively, and will make the region an attractive environment for international real estate projects, capable of competing with global markets in the field of innovation and modern real estate technologies.
The CEO of REGA emphasised that Saudi real estate sector is witnessing a comprehensive renaissance and rapid growth, thanks to the goals of Saudi Vision 2030, which has redrawn the sector's map and transformed it into an industry that drives the future of urban and economic development.
He noted that the real estate sector's GDP in Saudi Arabia reached more than $40bn (SR151bn) by the end of the second quarter of 2025, constituting one of the largest contributors to the non-oil GDP, while the value of outstanding real estate loans exceeded $265bn (SR961bn), which reflects the strength of the market, investor confidence, and sustainable growth. At the level of housing programs, the percentage of citizens owning their homes reached 65.4%, and it aims to reach 70% by 2030.
He added that the development in the Saudi real estate sector is evident in the growth and investment indicators, as 4,283 new investment licenses were issued during 2024.
He pointed out that enhancing Gulf co-operation in the areas of real estate development, sustainability, and smart planning will benefit the economies of the GCC states collectively, and will make the region an attractive environment for international real estate projects, capable of competing with global markets in the field of innovation and modern real estate technologies.
The CEO of REGA emphasised that Saudi real estate sector is witnessing a comprehensive renaissance and rapid growth, thanks to the goals of Saudi Vision 2030, which has redrawn the sector's map and transformed it into an industry that drives the future of urban and economic development.
He noted that the real estate sector's GDP in Saudi Arabia reached more than $40bn (SR151bn) by the end of the second quarter of 2025, constituting one of the largest contributors to the non-oil GDP, while the value of outstanding real estate loans exceeded $265bn (SR961bn), which reflects the strength of the market, investor confidence, and sustainable growth. At the level of housing programs, the percentage of citizens owning their homes reached 65.4%, and it aims to reach 70% by 2030.
He added that the development in the Saudi real estate sector is evident in the growth and investment indicators, as 4,283 new investment licenses were issued during 2024.
At the project level, the number of off-plan projects in the Saudi real estate market reached 654 projects by the end of the first half of 2025, comprising more than 346,000 real estate units, with total estimated sales values exceeding $135bn (SR508bn), which reflects the dynamism of the sector, the efficiency of its regulatory environment, and the sustainability of its investment attractiveness.
Source: GULF TIMES