Real Estate Future Meeting launches with USD2.7B value of agreements inked in Riyadh

(MENAFN) Real estate agreements valued at over SR10 billion (USD2.66 billion) were inked on the initial day of an industry meeting in Saudi Arabia.

The partnership memorandums and deals were signed at the second edition of the Real Estate Future Forum in the Saudi capital, Riyadh, which is being hosted from Jan. 23 to 25.

The agreements were concentrated on real estate expansion and establishment techniques, and the creation of four financing funds to improve commercial, tourism as well as housing ventures.

The event was launched by the Minister of Municipal and Rural Affairs and Housing Majed bin Abdullah Al-Hogail, who used his opening speech to stress the significance the real estate industry has in the administration’s improvement plans for the economy, as reported by the Saudi Press Agency.

He mentioned that the meeting is going to talk about 10 strategic sectors, such as the role of areas, governorates, ministries and secretariats in coordinating the empowerment of the real estate industry, and regional attempts and their effect on the expansion of the real estate industry in the area.


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