Tag: Real Estate

Cityscape Global Saudi Arabia 2023
Thought Leadership

Cityscape Global Saudi Arabia 2023: A Monumental Real Estate Success

Cityscape Global is renowned as the largest real estate exhibition globally. It welcomed 350 exhibitors, over 10,000 international investors, an impressive lineup of more than 300 speakers, and an astounding 160,000 visitors. The event was a resounding success with the help of the organizers, Tahaluf, a company under the umbrella of the Saudi Federation for Cyber Security, Programming & Drones (SAFCSP), in establishing the country as a global leader. Global Leaders Today magazine attended the event to provide extensive coverage and spotlight the pivotal moments of this flourishing occasion.


A Catalyst for Economic Growth

Over 3,800 housing units were booked during the event, representing a staggering total worth of SAR 3.8 billion (approximately $1 billion). This huge investment highlights the robust demand for housing in Saudi Arabia, with investors seizing the opportunity presented by the exhibition.


But the impact extended far beyond the real estate sector. The exhibition had an extensive indirect economic impact on Riyadh, encompassing various sectors such as hospitality services, aviation, and hotels, with a total value exceeding SAR 94.5 million (approximately $25 million). 


Furthermore, the event received an overwhelming response from participants and investors, with registration requests for the upcoming year already quadrupling compared to the current year.  Faisal Al Khamissi, Chairman of the board of directors of SAFCSP, says, “The overwhelming interest in next year’s event reaffirms our commitment to hosting global events like Cityscape and Black Hat.”


Looking ahead, Saudi Arabia is poised to introduce new brands to the world, including LEAP, as part of its ongoing efforts to establish itself as a global hub for various sectors. Faisal Al Khamissi shared the exciting vision, stating, “We look forward to introducing new Saudi brands, including LEAP, and envision five more exciting events within the next two years.”


In recognition of the invaluable support that contributed to the success of the Cityscape Global Exhibition, Faisal Al Khamissi extended his heartfelt gratitude to the Ministry of Municipal and Rural Affairs and Housing, particularly Minister Majid bin Abdullah Al-Hogail and Vice Minister Eng. Abdullah bin Mohammed Al-Budair. Their partnership and collaboration were instrumental in making this remarkable achievement possible.


GLT President Prof Jeevan D’Mello, who is a renowned international speaker, attended and participated in the event. He stated, “The event achieved remarkable success, drawing speakers and participants from all corners of the globe. It stands as a truly unique and groundbreaking gathering, poised to propel the industry to unprecedented heights.” During the panel discussion on ‘The Housing Crisis: A Global Problem in Need of Global Solutions,’ Prof Jeevan spoke passionately on the importance of considering the cultural and social expectations of citizens of the country while designing and developing affordable housing. Dr Orna Rosenfeld, PhD who is a global expert on housing, also noted the importance of governmental regulation and initiatives that become drivers towards appropriate and sustainable housing solutions. 


Sherlyn Gomes, the Features Editor of GLT, eloquently summarized the grand success, saying, ‘The Cityscape Global Conference and Exhibition showcased the incredible growth potential of Saudi Arabia’s real estate sector, with investments exceeding $110 billion and a multitude of exciting projects and initiatives on the horizon.” She continued, “Undoubtedly, the Kingdom has solidified its position as a global real estate powerhouse. Vision 2030 continues to be the driving force behind this development, and this exhibition played a pivotal role in attracting global interest and investments, propelling the Kingdom even closer to a prosperous future.'”


As Saudi Arabia’s real estate market continues to grow, opportunities for investors, developers, and various industry players abound. With a strong focus on sustainability, technology, and innovation, the sector is poised for continued expansion and success. The future of living in Saudi Arabia is taking shape, and the Cityscape Global Conference and Exhibition is at the forefront of this exciting transformation.