Majid Al-Hoqail: Launch of the Saudi Global Standard for Unifying the Coding of Real Estate Properties

Majed Al-Hogail, Minister of Municipalities and Housing, confirmed that the real estate and construction sectors remain primary driving forces in the national economy. This was evidenced by their 13.8% contribution to the GDP as of the second quarter of 2025. Furthermore, these sectors account for a significant portion of the labor market, providing 15.5% of total jobs in the Kingdom. Efforts to develop the sector, such as real estate asset tokenization, are essential to enhancing the performance of Saudi Arabia’s commercial and residential real estate.

The Minister also revealed that real estate agreements and contracts exceeding 161 billion SAR are expected to be signed during the first two days of the exhibition. This step is a strong indicator of the escalating momentum in the Saudi real estate sector and demonstrates its high capacity to attract both local and international investments.

Launching the First Global Standard for Unified Real Estate Tokenization

Minister Majed Al-Hogail announced the launch of the first global standards for real estate asset tokenization, aimed at converting these assets into digital tokens. The Minister confirmed the success of the first tokenized title deed transaction, conducted between the National Housing Company (NHC) and a group of investors under the supervision of the Real Estate General Authority (REGA).

Al-Hogail added that the Kingdom intends to publish the technical specifications for this new tokenization in early 2026. This move aims to enable PropTech companies to develop infrastructure that supports innovation in digital ownership. He explained that this tokenization will make real estate assets machine-readable, ensuring they are securely and encryptedly linked to real estate records, which enhances transparency and reduces transaction risks.

New Real Estate Indicators Next Year to Regulate the Market

Al-Hogail noted that next year will see the issuance of a package of new real estate indicators to enhance market monitoring. These include:

Real Estate Inflation Index.
Rent-to-Income Ratio Index.
Vacancy Rate Index.

The Minister also clarified that the real estate markets in Jeddah, Dammam, and Makkah currently do not require any new fees or additional rental controls, given the stability of supply and demand indicators in these cities.

Foreign Investment and Homeownership Rates

Minister Al-Hogail emphasized that the updated Foreign Ownership Law has bolstered confidence in the Saudi market. Consequently, foreign investment inflows into the sector reached 15% of total inflows in 2024, confirming the Kingdom's attractiveness as a global real estate hub. He also announced that the percentage of Saudi homeownership exceeded 65%by the end of 2024, continuing the upward trend toward achieving Saudi Vision 2030 goals.

Details of Cityscape Global 2025

Cityscape Global 2025 kicked off this Monday morning in Riyadh under the theme "The Future of Urban Living." The event is held at the Riyadh Exhibition and Convention Center in Malham, featuring a diverse elite of developers and real estate leaders from around the world.

The exhibition is sponsored by the Ministry of Municipalities and Housing, in partnership with the Housing Program(one of the Vision 2030 programs), and organized by "Tahalluf"—a joint venture between the Saudi Federation for Cybersecurity, Programming and Drones, the Investment Events Fund, and Informa.

Exhibition Events and the Kingdom's Global Standing

The four-day event is expected to attract more than 170,000 visitors, with 550 exhibitors and 470 international speakers. The exhibition underscores the Kingdom's growing position as a global center for real estate investment and innovation, supported by recent updates like the Non-Saudi Real Estate Ownership Law, which paves the way for extensive international investment opportunities.

Key Partners in Attendance

The event witnessed a prominent presence of key partners, including founding partners: the National Housing Company (NHC), Diriyah Company, ROSHN, New Murabba, Qiddiya City, and Rua Al Madinah Holding.

Other major partners include NEOM (Lead Partner), Masar (Integrated Destination Partner), KAFD (Business Destination Partner), and STC as the Digital Enabler. This diversity in partnerships reflects the scale of the exhibition and its ability to gather real estate leaders on a single platform, according to the Saudi Press Agency (SPA).

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