Non-oil companies keep pace with growth in system performance in job creation in Saudi Arabia

by MMC
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The first Saudi Proptech Summit will begin on Monday in Riyadh to review the most important technical developments and beneficiaries’ experiences.

The two-day conference includes dialogue sessions and workshops with more than 25 speakers representing 20 countries and will be accompanied by a real estate technology exhibition.

Majid bin Abdullah al-Hogail, Minister of Municipal and Rural Affairs and Housing and Chairman of the Board of Directors of the General Real Estate Authority, will inaugurate the conference.

Hogail said on his X account that he was looking forward to meeting the creative and innovative people at Saudi Proptech, in the hope that it would grow the sector.

The minister also expects the conference to enhance innovation and open investment horizons for entrepreneurs and emerging companies in real estate technologies to contribute to the realization of Vision 2030.

Real estate technology is an integrated system of emerging and fast-growing companies that provide various innovative products or services in the field of commercial and residential real estate.

It consists of four main areas: smart real estate, building technology, financial technology in real estate and consumer technology.

The summit will bring together a wide range of participants, including proptech specialists and experts, investors and real estate service providers, with the participation of startups from the real estate and technology sectors.

It will also attract the latest international technical practices and experiences in the real estate field and introduce them to the Saudi market through partnership agreements between stakeholders.

Proptech brings together key activities, namely the real estate technological ecosystem, government entities responsible for regulating the real estate sector, support for startups, real estate developers, proptech platforms, pioneering investment companies and business accelerators.

He will also discuss the technology solutions sector in the areas of property and facilities management, artificial intelligence, data analytics, virtual and augmented reality, financing, mortgage and construction technologies .

The conference will review several global technologies in the field of real estate in the European market and real estate technology in Hong Kong, China Sea region.

The Authority explained that the conference will address several topics through plenary sessions and workshops.

It would address important themes such as the role of technology in shaping public policies, the digital transformation of the Saudi real estate sector, the Kingdom’s digital infrastructure and the future prospects of the real estate sector.

Furthermore, the conference will explore innovations in urban environment, the influence of smart city development on the real estate sector through information and decision-making mechanisms, as well as real estate technology solutions and their necessity for build the cities of the future.

Proptech connects technology and real estate and refers to various digital technologies used in the real estate sector and asset management.

It also helps manage various aspects of the real estate industry including sales and delivery, facilities management, maintenance operations and contract management using IT technologies, software and mobile phone applications as well as associated devices, such as sensors, cameras, VR and augmented reality technologies.

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