Doha: Chief executives from Saudi real estate and technology companies underscored the importance of modern technology in advancing the real estate sector in the Kingdom of Saudi Arabia. Speaking during a session titled "Opportunities and Prospects for Real Estate Investment in Kingdom of Saudi Arabia," held as part of the Third Qatar Real Estate Forum, which concludes tomorrow, participants noted that the field of real estate technologies offers vast opportunities for expansion and investment for investors from Saudi Arabia and the wider Gulf region.
According to Qatar News Agency, Founder and CEO of Deal App, Salah Al Suwaidan, highlighted that real estate digital platforms in Saudi Arabia have become more diverse and specialized, making it easier for property seekers to access relevant information and make well-informed purchasing decisions. He added that there are also online platforms that enable buyers to remotely inspect properties.
Al Suwaidan emphasized the integration in the field of real estate technologies in the Kingdom, which has significantly improved the quality of services provided to stakeholders in the sector, whether buyers or sellers. He noted that there remain numerous opportunities for further development in Saudi Arabia's property technology landscape, emphasizing that these technologies will play a pivotal role in delivering reliable and seamless information to decision-makers in the future.
For his part, Head of Digital Sector at NHC Innovation, Eng. Marwan Nasser Al Zamil, pointed to promising investment opportunities in digital technologies both in Saudi Arabia and across the Gulf region. Among these, he cited the potential to interconnect real estate digital marketplaces within the Gulf with global markets, expand property valuation activities using proptech tools, and offer services that identify client preferences in the real estate domain.
He stressed the crucial role of artificial intelligence in managing real estate platforms amid a growing number of users and housing units on the Saudi market. He explained that AI made property searches easier, as it can present users with tailored real estate recommendations based on their needs, preferences, and purchasing power.
On a broader note, Co-founder and Managing Director of Oud Real Estate Company, Eng. Mohammed bin Khaled Al Duraibi, pointed out that the Gulf region stands out for its advanced cities and infrastructure. He expressed hope that Qatari real estate development companies will enter the Saudi market and contribute to developing real estate projects in the Kingdom.