Proptech usage to grow in Saudi Arabia

The Kingdom of Saudi Arabia has seen huge transformation in the past 20 to 30 years and continues to evolve and develop materially across most indicators, according to The Foundations of Growth: Proptech in Saudi Arabia, a recent report from The Proptech Connection.

Economically, Saudi Arabia has become a prominent global figure, in part due to its oil and gas reserves and structured approach to managing those assets. This combination places Saudi Arabia as the 17th wealthiest nation globally. Other parts of the economy are increasingly important economic contributors, however, with telecommunications, professional services and real estate being major industries — whose prominence will be greater with economic shifts in the future. The economic success of the country has led to an ever-increasing population. The population has doubled from 18 million in 1993 to 37 million in 2023. Economic migrants account for 38 percent of the population, contributing to a young,