Real estate accounts for 12% of GDP: REGA CEO

The real estate sector contributes 12% of Saudi Arabia’s gross domestic product (GDP), said Abdullah Alhammad, CEO of the Real Estate General Authority (REGA).

Speaking at the Real Estate Future Forum, he indicated that the number of foreign real estate investment licenses issued in Q3 2024 exceeded 1,130, reflecting the global investors’ confidence and Saudi Arabia’s appeal as a premier investment destination.

Additionally, he highlighted the growing international interest in the Saudi real estate sector and the strength of its regulatory framework.