Riyadh – Sharikat Mubasher: Abdullah Alhammad, CEO of the Real Estate General Authority (REGA), revealed that the PropTech Business Accelerator, launched in partnership with the National Technology Development Program (NTDP) and global accelerator Startup Wise Guys, has facilitated funding rounds exceeding SAR 37 million and contributed to the localization of seven foreign companies within just four months.

Speaking at the Global PropTech Summit in Riyadh, Alhammad highlighted REGA’s continued commitment to advancing technology adoption and innovation as fundamental pillars for building a sustainable real estate market. He described 2025 as a landmark year for the Kingdom’s journey in property technology and innovation, marked by the launch of the Saudi PropTech Hub (SPH)—a platform designed to accelerate technological growth in the real estate sector—and the introduction of a regulatory sandbox aimed at empowering entrepreneurs and driving sector-wide innovation.

Alhammad also noted the launch of ‘Aqarthon,’ a real estate innovation hackathon organized in collaboration with Al Yamamah University, which drew participation from more than 50 qualified teams representing over 140 competitors. He affirmed that these initiatives reflect REGA’s strategic commitment to making real estate innovation a national priority in Saudi Arabia.