The Ministry of Investment concluded its participation in the four-day International Real Estate Exhibition (MIPIM), which was held from March 15-18 in Cannes, France, where the ministry showcased investment opportunities, competitive advantages, and the size and diversity of promising opportunities in the real estate sector in the Kingdom of Saudi Arabia. The ministry's participation in the exhibition aims to review the strategic goals and projects of the participants, the competitive advantages and the promising opportunities in the real estate sector in the Kingdom, and to provide information and studies on the sector, and the capabilities that the Kingdom owns in the real estate sector, and to create possible partnerships to achieve the goals of the Kingdom's Vision 2030, which aims to raise the proportion of homeownership for citizens to 70%, to place three Saudi cities among the top 100 cities that are more suitable for living in the world, and to raise the percentage of the private sector's contribution to 65% of GDP, and the percentage of foreign investment's contribution to 5.7% of GDP. During its participation, the ministry, under the umbrella of "Invest in Saudi", highlighted the investment opportunities for the real estate sector in KSA, the volume of growth, and the demand for real estate services, which stands at $20.5 billion, reflecting the sector's size and diversity of investment opportunities. The ministry also highlighted the Kingdom's competitive advantages and its capabilities in the real estate sector, the largest in the region, as the population growth is expected to add 6 more million by 2030, and the value of mortgage loans is estimated to rise during the next ten years from $133.3 billion to $213.3 billion. As part of its participation, the ministry demonstrated the Kingdom's support for the development of the sector by relying on technology in value chains, enhancing transparency by publishing real estate indicators online, in addition to providing innovative financing solutions to enable those wishing to obtain products. A total of 12 Saudi-foreign partnership agreements were signed on the sidelines of the exhibition and under the umbrella of "Invest in Saudi", in which several government agencies and the private sector participated, including the Ministry of Municipal and Rural Affairs and Housing, the Royal Commission for the City of Riyadh, the National Housing Company, Roshn, Retal, and Ajdan, to display Investment opportunities and major real estate and housing projects in the Kingdom.
