Saudi Arabia Launches $1b Real Estate Funds to Provide Thousands of Homes

The Saudi Minister of Municipal, Rural Affairs and Housing during his tour of the Restatex Riyadh Real Estate Exhibition (Asharq Al-Awsat)
The Saudi Minister of Municipal, Rural Affairs and Housing during his tour of the Restatex Riyadh Real Estate Exhibition (Asharq Al-Awsat)
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Saudi Arabia Launches $1b Real Estate Funds to Provide Thousands of Homes

The Saudi Minister of Municipal, Rural Affairs and Housing during his tour of the Restatex Riyadh Real Estate Exhibition (Asharq Al-Awsat)
The Saudi Minister of Municipal, Rural Affairs and Housing during his tour of the Restatex Riyadh Real Estate Exhibition (Asharq Al-Awsat)

Minister of Municipal, Rural Affairs and Housing Majid Al Hogail inaugurated Restatex Riyadh Real Estate Exhibition 2023 on March 7.

The exhibition, being held at Riyadh International Convention & Exhibition Center, will continue until March 10.

Several senior officials from government agencies, financing agencies and real estate development companies are expected to attend.

During the opening ceremony, Al Hogail witnessed the launch of real estate funds with a total value of more than SAR 4 billion ($1 billion), according to a press release.

The funds aim to provide more than 4,000 housing units in Riyadh and Madinah on an area of over one million square meters (sqm).

The exhibition enjoys wide participation from real estate development and marketing companies, financing agencies, Saudi banks and institutions specialized in housing and real estate affairs in the public and private sectors, which provide unique housing and financing solutions that suit various Saudi families and meets with the Vision 2030.

In this edition, Restatex will include eight dialogue sessions mainly focusing on the real estate industry and the role of the public and private sectors, sustainability and quality of life in the real estate sector, urban development and Saudi innovation, digital transformation in the real estate sector, affordable housing, real estate brokerage, housing projects challenges and solutions, and a success story by balancing quality and price.

In other news, Al Hogail inaugurated a technical link between the “Tatweer Program” of the Real Estate Development Fund and the Real Estate Developers Services Center “Etmam.”

The link comes with the aim of strengthening the complementary partnership between the Tatweer Program and Etmam.

This will contribute to automating and speeding up the submission of applications and achieving the goals of the national housing program, which focuses on raising the proportion of Saudi families owning their homes to 70 % by the end of 2030.



Saudi Arabia Assumes WTO General Council Presidency for 2025–2026

The General Council of the World Trade Organization (WTO) unanimously appointed Permanent Representative of Saudi Arabia to the WTO Saqer bin Abdullah Al-Moqbel as its president for the 2025–2026 term. (SPA)
The General Council of the World Trade Organization (WTO) unanimously appointed Permanent Representative of Saudi Arabia to the WTO Saqer bin Abdullah Al-Moqbel as its president for the 2025–2026 term. (SPA)
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Saudi Arabia Assumes WTO General Council Presidency for 2025–2026

The General Council of the World Trade Organization (WTO) unanimously appointed Permanent Representative of Saudi Arabia to the WTO Saqer bin Abdullah Al-Moqbel as its president for the 2025–2026 term. (SPA)
The General Council of the World Trade Organization (WTO) unanimously appointed Permanent Representative of Saudi Arabia to the WTO Saqer bin Abdullah Al-Moqbel as its president for the 2025–2026 term. (SPA)

The General Council of the World Trade Organization (WTO) has unanimously appointed Permanent Representative of Saudi Arabia to the WTO Saqer bin Abdullah Al-Moqbel as its president for the 2025–2026 term. In a historic milestone, Al-Moqbel becomes the first Arab and Middle Eastern delegate to assume this position, reported the Saudi Press Agency on Wednesday.

The WTO General Council, which convenes throughout the year, oversees the organization’s operations between ministerial conferences, held biennially. As the highest decision-making body at the level of heads of missions, the council plays a crucial role in shaping global trade policies.

During Saudi Arabia's presidency, the General Council is set to address several key issues, including preparations for the 14th Ministerial Conference, scheduled to be held in Cameroon in March 2026.

The agenda will also focus on essential WTO reforms, particularly the dispute settlement mechanism; advancing negotiations on the second phase of the Fisheries Subsidy Agreement; and addressing agriculture, food security, and development concerns.

Other priorities include integrating multilateral agreements, such as the Investment Facilitation for Development Agreement and the E-Commerce Agreement, into the WTO framework.

Commenting on the appointment, Al-Moqbel emphasized that Saudi Arabia’s leadership in the WTO General Council reflects its growing role in the international economic landscape, leveraging its global economic influence to strengthen multilateral trade cooperation.