The Real Estate General Authority (REGA) recently announced the launch of the Saudi PropTech Hub, which will include several key initiatives, according to REGA CEO Abdullah Alhammad.
Speaking with Argaam during the Global PropTech Summit, Alhammad highlighted that the initiatives will include the formation of a PropTech Council. The council is designed to connect industry leaders and experts in real estate, fostering knowledge exchange and exploring emerging opportunities and challenges to shape the future of the sector.
The PropTech Hub will also feature a regulatory sandbox aimed at evolving regulatory frameworks that keep pace with technological advancements. This initiative seeks to support innovation in the real estate industry while ensuring compliance with necessary regulations.
Additionally, a real estate technology accelerator has been introduced in partnership with a specialized advisory firm. According to Alhammad, this initiative is set to bring notable benefits to Saudi Arabia’s real estate market, reinforcing the Kingdom’s commitment to fostering a technologically advanced property sector.
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By Proptechbuzz
By Ravi Kumar
