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Riyadh to Host the 42nd FIABCI Global Leadership Summit in December

Riyadh will host the 42nd FIABCI Global Leadership Summit in December.
Riyadh will host the 42nd FIABCI Global Leadership Summit in December.
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Riyadh to Host the 42nd FIABCI Global Leadership Summit in December

Riyadh will host the 42nd FIABCI Global Leadership Summit in December.
Riyadh will host the 42nd FIABCI Global Leadership Summit in December.

Riyadh is preparing to host the 42nd FIABCI Global Leadership Summit in December to discuss the latest developments in the domestic and international real estate sector.

The summit is slated to bring together a large group of real estate leaders and decision-makers who will share knowledge, best practices, outcome of research and development, and aspects of industry development.

The summit, held with the support and sponsorship of the Real Estate General Authority, will be held amid wide-scale movement in the sector, both locally and globally.

Bringing together a select group of real estate developers, investors and members of the International Real Estate Federation (FIABCI), the summit will also be an opportunity to highlight the pioneering role of the Kingdom in the real estate sector.

Moreover, it will feature major achievements made by the real estate and housing sector in the Kingdom, both in terms of relevant legislation and of major technological and digital developments, which have contributed to regulating the real estate sector and attracting local and international considerable real estate investment.

Real Estate General Authority CEO Eng. Abdullah bin Saud Al-Hammad said the summit this year will be an important platform to share the Kingdom's experience in the real estate sector and highlight its achievements, especially in regards to legislation, in line with the applicable objectives set out in Vision 2030.

The 42nd FIABCI Global Leadership Summit is expected to draw a large number of local and international real estate leaders, developers and investors, in addition to FIABCI members and keynote speakers from more than 110 countries who will take part in discussions and specialized workshops.

Discussions will tackle, among others, efforts to develop the real estate sector in international and regional markets.

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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)

Saudi Arabia has made history by uniting the 193 member states of the World Intellectual Property Organization (WIPO) to adopt the Riyadh Treaty on Design Law. This landmark achievement, realized after two decades of deliberation, underscores the Kingdom’s leadership in enhancing the global intellectual property system.

The announcement came at the conclusion of the Riyadh Diplomatic Conference on the Design Law Treaty, a rare event for WIPO, which has not held a diplomatic conference outside Geneva for more than a decade. It was also the first such event hosted in Saudi Arabia and the Middle East, representing the final stage of negotiations to establish an agreement aimed at simplifying and standardizing design protection procedures across member states.

Over the past two weeks, intensive discussions and negotiations among member states culminated in the adoption of the Riyadh Treaty, which commits signatory nations to a unified set of requirements for registering designs, ensuring consistent and streamlined procedures worldwide. The agreement is expected to have a significant positive impact on designers, enabling them to protect their creations more effectively and uniformly across international markets.

At a press conference held on Friday to mark the event’s conclusion, CEO of the Saudi Authority for Intellectual Property Abdulaziz Al-Suwailem highlighted the economic potential of the new protocol.

Responding to a question from Asharq Al-Awsat, Al-Suwailem noted the substantial contributions of young Saudi men and women in creative design. He explained that the agreement will enable their designs to be formally protected, allowing them to enter markets as valuable, tradable assets.

He also emphasized the symbolic importance of naming the convention the Riyadh Treaty, stating that it reflects Saudi Arabia’s growing influence as a bridge between cultures and a global center for innovative initiatives.

The treaty lays critical legal foundations to support designers and drive innovation worldwide, aligning with Saudi Arabia’s vision of promoting international collaboration in the creative industries and underscoring its leadership in building a sustainable future for innovators.

The agreement also advances global efforts to enhance creativity, protect intellectual property, and stimulate innovation on a broader scale.

This achievement further strengthens Saudi Arabia’s position as a global hub for groundbreaking initiatives, demonstrating its commitment to nurturing creativity, safeguarding designers’ rights, and driving the development of creative industries on an international scale.

The Riyadh Diplomatic Conference, held from November 11 to 22, was hosted by the Saudi Authority for Intellectual Property and attracted high-ranking officials and decision-makers from WIPO member states.