REGA CEO clarifies details of Saudi PropTech Hub

Abdullah Alhammad, CEO of Real Estate General Authority (REGA)

Real Estate General Authority (REGA) announced the launch of the Saudi PropTech Hub with several key initiatives included, REGA CEO Abdullah Alhammad said.

In an interview with Argaam on the sidelines of the Global PropTech Summit on Sunday, Alhammad noted that the initiatives include the PropTech Council, which acts as a forum for pioneers and experts in the real estate field. The council facilitates the exchange of ideas and experience while exploring opportunities and challenges that will guide the sector toward new horizons.  

Meanwhile, the hub will contain a regulatory sandbox initiative, which aims to develop regulatory frameworks that keep pace with technological advancements while balancing innovation with regulatory requirements in the real estate sector.

This is in addition to the real estate technology accelerator, which has been launched in collaboration with an expert house in this field. The move is expected to have a positive and significant impact on the real estate sector in the Kingdom, REGA CEO further indicated.