The Real Estate Future Forum 2024 discussed on Tuesday women's prominent societal role that is significantly impacting real estate through purposeful planning for the required change. On its second day, the Forum reviewed the positive transformations in the Kingdom's housing sector and its plan within Saudi Vision 2030. It underlined the role of programs and financing solutions for housing support that have allowed more than 755,000 beneficiaries to sign financing contracts that have totaled more than $124 billion.
Saudi Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail revealed on Monday that the banks’ contribution to real estate loans has reached over $173.3 billion, while the number of state-backed loans has reached about 750,000 contracts. Speaking at opening the third edition of the 2024 Real Estate Future Forum in Riyadh, Al-Hogail stated that real estate activities’ contribution to the non-oil GDP reached 12.2% until the third quarter of 2023. The rate of the construction sector reached 11.3% during the same period.