Majed bin Abdullah bin Hamad Al-Hogail

The Minister of Municipality and Rural Affairs and Housing attributes the country’s recent successes in the sector to innovative construction methods, technological advancement, and the creative ecosystem.

Vision 2030 has given us a new horizon that we aim to fulfill and build a future residence. The Kingdom of Saudi Arabia has witnessed unprecedented urban growth that exceeded other countries. The spatial dimensions and the city with its economic, social, and cultural dimensions have a role in achieving Vision 2030. The cities are the spatial context that translates the goals, initiatives, and projects of Vision 2030. In NEOM, we will see a dream that becomes a reality soon, hopefully, in the new society supported by talents in 14 sectors. One of them is the design and construction sector. NEOM will become the benchmark that the sector aims to become in Al-Ula. The development plan for Al-Ula focuses on improving infrastructure and tourist destinations while protecting nature and its beauty and historic landmarks.

The project of Masar in Mecca will be a landmark that will improve the quality of life of Meccans and the experience of its visitors while maintaining the spiritual and cultural nature of the destination. Meanwhile, the project of developing downtown Jeddah will put Jeddah on the global map to revitalize its history and celebrate its contemporary history as well. Also, the two tourist destinations, AMAALA and Red Sea, will attract the world and aim to set new standards to build a new sustainable tourist sector. Achieving Vision 2030 requires achieving unprecedented milestones in real estate and housing projects through large companies that provide living communities that provide special services for contemporary life. That comes through collaboration with international and national real estate developers. And the exhibition will see the announcement of new projects and the signing of new agreements to promote promising partnerships.

The National Company for Housing in partnership with the private sector and represented by the developers have worked to develop nine residential areas and complexes that provide amazing opportunities to residents. We will expand in the coming years by building new neighborhoods all over the Kingdom with the participation of national as well as international real estate developers to continue our development plans for the real estate sector. That is in line with the improved regulations and funding opportunities in the sector, which have contributed to the highest amount of loans not related the oil sector. In light of the number of upcoming projects, we will focus on quality and saving time and effort via innovative construction methods. The Kingdom of Saudi Arabia is proud of the unprecedented advancement in real estate technologies. The environment and ecosystem that support talent and creativity has played a major role in this unprecedented advancement in the real estate arena.

Today, I recall the words of His Royal Highness the Crown Prince and he said in the early phases of NEOM, this project is a destination for dreamers who want to create something new in this world. Is there a better invitation than dreaming the environment that the Crown Prince wants to exist as the environment for dreamers who want to reap the fruit of high branches and mount the high mountains?

Since the launch of Vision 2030, the Kingdom of Saudi Arabia has been assuming a central position as amongst the influential countries bringing the world to the future. We are still welcoming new ideas that are ambitious enough and discuss them with our partners from across the globe so we can turn the idea into reality and the dream into reality as well. Before I conclude my remarks,

I would like to announce the launch of several projects with a total amount value exceeding SAR65 million and extend my gratitude to those who contributed to our success.