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Riyadh to Host Global Real Estate Leaders at Cityscape Global 2024 Exhibition in November

Riyadh will host the second edition of Cityscape Global 2024 in November. (Cityscape Global)
Riyadh will host the second edition of Cityscape Global 2024 in November. (Cityscape Global)
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Riyadh to Host Global Real Estate Leaders at Cityscape Global 2024 Exhibition in November

Riyadh will host the second edition of Cityscape Global 2024 in November. (Cityscape Global)
Riyadh will host the second edition of Cityscape Global 2024 in November. (Cityscape Global)

Riyadh will host the second edition of Cityscape Global 2024 in November.

Saudi Minister of Municipalities and Housing Majed Al-Hogail will inaugurate the event that will be held from November 11 to 14 under the theme "The Future of Living."

The event aims to expand local and international investment opportunities in Saudi Arabia's rapidly evolving real estate sector.

The Cityscape Global 2024 exhibition will showcase transformative projects, announce significant partnerships, and feature a lineup of new agreements.

It will highlight cutting-edge real estate practices, focusing on quality, time-saving approaches, and modern construction methods aligned with Saudi Arabia's vision for progressive urban development.

The four-day exhibition will present the latest in architecture, design, urban planning, and innovative real estate legislation, giving visitors a glimpse into the future of sustainable and efficient building solutions.

Attendees will have the opportunity to engage with global leaders in real estate, architecture, and design and meet the founders and investors behind prominent local, regional, and international brands.

The exhibition, the world's largest real estate event, will host over 400 exhibitors, including architectural and investment firms, engineers, planners, landscape architects, and interior designers, as well as companies specializing in construction technology.

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IMF Approves Third Review of Sri Lanka's $2.9 Bln Bailout

Peter Breuer, Senior Mission Chief for Sri Lanka at the IMF along with Katsiaryna Svirydzenka, Deputy Mission Chief for Sri Lanka at the IMF and Martha Tesfaye Woldemichael, Deputy Mission Chief for Sri Lanka at the IMF, attend a press conference organized by the International Monetary Fund (IMF) in Colombo, Sri Lanka, November 23, 2024. REUTERS/Thilina Kaluthotage
Peter Breuer, Senior Mission Chief for Sri Lanka at the IMF along with Katsiaryna Svirydzenka, Deputy Mission Chief for Sri Lanka at the IMF and Martha Tesfaye Woldemichael, Deputy Mission Chief for Sri Lanka at the IMF, attend a press conference organized by the International Monetary Fund (IMF) in Colombo, Sri Lanka, November 23, 2024. REUTERS/Thilina Kaluthotage
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IMF Approves Third Review of Sri Lanka's $2.9 Bln Bailout

Peter Breuer, Senior Mission Chief for Sri Lanka at the IMF along with Katsiaryna Svirydzenka, Deputy Mission Chief for Sri Lanka at the IMF and Martha Tesfaye Woldemichael, Deputy Mission Chief for Sri Lanka at the IMF, attend a press conference organized by the International Monetary Fund (IMF) in Colombo, Sri Lanka, November 23, 2024. REUTERS/Thilina Kaluthotage
Peter Breuer, Senior Mission Chief for Sri Lanka at the IMF along with Katsiaryna Svirydzenka, Deputy Mission Chief for Sri Lanka at the IMF and Martha Tesfaye Woldemichael, Deputy Mission Chief for Sri Lanka at the IMF, attend a press conference organized by the International Monetary Fund (IMF) in Colombo, Sri Lanka, November 23, 2024. REUTERS/Thilina Kaluthotage

The International Monetary Fund (IMF) approved the third review of Sri Lanka's $2.9 billion bailout on Saturday but warned that the economy remains vulnerable.
In a statement, the global lender said it would release about $333 million, bringing total funding to around $1.3 billion, to the crisis-hit South Asian nation. It said signs of an economic recovery were emerging, Reuters reported.
In a note of caution, it said "the critical next steps are to complete the commercial debt restructuring, finalize bilateral agreements with official creditors along the lines of the accord with the Official Creditor Committee and implement the terms of the other agreements. This will help restore Sri Lanka's debt sustainability."
Cash-strapped Sri Lanka plunged into its worst financial crisis in more than seven decades in 2022 with a severe dollar shortage sending inflation soaring to 70%, its currency to record lows and its economy contracting by 7.3% during the worst of the fallout and by 2.3% last year.
"Maintaining macroeconomic stability and restoring debt sustainability are key to securing Sri Lanka's prosperity and require persevering with responsible fiscal policy," the IMF said.
The IMF bailout secured in March last year helped stabilize economic conditions. The rupee has risen 11.3% in recent months and inflation disappeared, with prices falling 0.8% last month.
The island nation's economy is expected to grow 4.4% this year, the first increase in three years, according to the World Bank.
However, Sri Lanka still needs to complete a $12.5 billion debt restructuring with bondholders, which President Anura Kumara Dissanayake aims to finalize in December.
Sri Lanka will enter into individual agreements with bilateral creditors including Japan, China and India needed to complete a $10 billion debt restructuring, Dissanayake said.
He won the presidency in September, and his leftist coalition won a record 159 seats in the 225-member parliament in a general election last week.