Arab News, Thursday, Sep 14, 2023 | Safar 28, 1445
Riyadh real estate expo sees over $29bn deals signed
Saudi Arabia:
The Cityscape Global Exhibition, held at
the Riyadh International Exhibition and Convention Center this week, saw deals
signed worth over SR110 billion ($29 billion), the Saudi Press Agency reported
on Thursday.
Organized by Tahaluf, a company under the umbrella
of the Saudi Federation for Cyber Security, Programming and Drones, had over 350
exhibitors, more than 10,000 international investors, 300 speakers, and 160,000
visits.
Faisal Al-Khamissi, board chairman of the SAFCSP,
which is the founding partner of Tahaluf, said Crown Prince Mohammed bin Salman
was the inspiration for holding the event.
Al-Khamissi said that one of the significant
outcomes of the gathering, which ended Wednesday, was that over 3,800 housing
units were booked for construction through the National Housing Company, worth
SR3.8 billion ($1.01 billion).
He said the indirect economic impact on Riyadh,
including hospitality services, flights and hotels, exceeding SR94 million ($25
million). He said there has been a massive rise in applications to participate
in next year’s event — four times this year’s registrations.
Al-Khamissi said Tahaluf was committed to
attracting global events including the Black Hat cybersecurity conference and
exhibition, while introducing new Saudi brands such as LEAP — with five such
gatherings already planned for the next two years.
He lauded the support of the Ministry of Municipal
and Rural Affairs and Housing, represented by Minister Majid bin Abdullah
Al-Hogail and Deputy Minister Abdullah bin Mohammed Al-Budair.
The Cityscape Global Exhibition is considered the
largest real-estate gathering of its type in the world.