Al-Hogail inaugurates the Saudi Housing Finance Conference hosted by “Euromoney 2023”.

Attended by over 500 participants from around the world, Al-Hogail inaugurates the Saudi Housing Finance Conference hosted by “Euromoney 2023”.

Minister of Municipal and Rural Affairs, and Housing and Chairman of the Housing Program Committee, Mr. Majid bin Abdullah Al-Hogail, officially opened the fourth Saudi Housing Finance Conference “Euromoney 2023” today. This year's conference's topic was “Opportunities and Challenges in the Housing Market.” Leading professionals and opinion leaders in the field of housing finance attend the event from the Kingdom, the Gulf region, and other world nations. In order to achieve the goals of the Housing Program, one of the Saudi Vision 2030 programs, the conference is a crucial forum for the exchange of ideas on how to create sustainable growth in the housing industry.

“The housing market plays an important role in the growth and development of the Kingdom,” the Minister stated at the opening of the conference, adding that the accomplishments over the last few years may be credited to the contribution and function of the housing sector in the national economy.

He emphasized the significance of the housing program, which is one of the Saudi Vision 2030's goals, and its role in the development of the real estate market. He also noted that it provides an opportunity for industry experts, thought leaders, and other change agents to network and seek out “pioneering solutions to address pressing challenges, safeguard the future of our country and of the surrounding regions.” He stated that “sharing knowledge will distinguish the Saudi housing market for years to come” and that the conference offers a forum for meaningful conversation and idea exchange.

The Housing Program, the Real Estate Development Fund (REDF), the General Authority for Real Estate (REGA), and the Saudi Real Estate Refinance Company (SRC) are the organizations responsible for organizing the conference.

In addition to providing opportunities to explore topics and issues of concern to the housing market, such as risk management and innovation, the conference attracted about 500 participants from around the world. They will discuss the most significant developments that help the Kingdom boast of an effective and innovative housing sector and will present them to policymakers, financial regulators, bankers, state funds, companies, and private capital providers from around the world.

The conference also discussed the lessons learnt from international markets, the significance of financial markets, the capital markets, the new regulatory landscape, mega project, liquidation, and the increased interest rate. The conference emphasized the fact that the goals of the Housing Program should conform to the goals of Vision 2030. The participants addressed the efforts made to enhance the housing market and the private-sector investments with the purpose of contributing to increasing the percentage of house owning to 70% by 2030, which results in realizing the importance of the housing, its financing and its role in the development and growth of Saudi economy.