H.E. Majed Al-Hogail inaugurates the Saudi Housing Finance Conference 2023 hosted by Euromoney

The fourth edition of the Saudi Housing Finance Conference has concluded today, Wednesday, 24 May 2023, under the patronage of the H.E. Mr Majed bin Abdullah Al-Hogail, Minister of Municipal Rural Affairs and Housing, Chairman of Housing Program, and was attended by Saudi policymakers, financial regulators, bankers, state funds, businesses, investors, and other key representatives from the public and private sectors. Hosted by Euromoney Conferences under the theme of “Meeting the challenges of scale”, the event brought experts from around the region and world together to share ideas on how to build sustainable growth in the housing market.  

During his keynote speech, his H.E. Majid Al-Hogail said: “The housing market plays an important role in the growth and development of the Kingdom, indicating that the achievements made over the past few years are due to the contributions of the housing sector and its role in the economy.” 

H.E. also highlighted that the housing and finance sectors are making great strides towards developing the Kingdom’s economy and enabling Vision 2030. He indicated that the program is keen on bringing attention to the future of the real estate sector, and opening opportunities to meeting with industry experts, thought leaders and policy makers. Furthermore, he stressed on providing pioneering solutions to meet pressing challenges, and to protect the future of the industry and the surrounding region, mentioning that the Saudi Housing and Real Estate Finance Conference is geared towards doing so, as it provides a platform for communication and exchange of ideas in a meaningful way which will distinguish the Saudi housing market for years to come.

The conference was organized in partnership with and co-hosted by the Housing Program, Real Estate Development Fund (REDF), General Authority for Real Estate (REGA) and Saudi Real Estate Refinance Company (SRC). 

Welcoming over 500 participants, the event provided policymakers, financial regulators, bankers, state funds, businesses, and providers of private capital from around the world the opportunity to explore topics such as risk management and innovation. During an insightful panel session, some of the housing sector’s key stakeholders discussed the sector’s significant momentum. Some of the key discussions included the potential of digitization to transform the housing sector, the key differentiators between a development and a community, and the importance of all stakeholders in the market working together

The conference also shed light on the priority to meet the housing needs of the population, and emphasis on the current track to increase home ownership by 70% by 2030.

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