The real estate sector plays an important role in achieving the Kingdom’s ambitious Vision 2030, which aims to achieve comprehensive development and important transformations in all sectors, to raise the quality of life for Saudi citizens, support the real estate renaissance, and attract investors to invest in real estate in the Kingdom.

The continuous growth in the real estate sector contributes to achieving the goals of Vision 2030. In this article, we will discuss the role of real estate valuation in supporting the achievement of Vision 2030.

objectives of Vision 2030 that the real estate sector is achieving:

The Kingdom is facing an increase in real estate demand due to economic and societal development with several huge projects such as NEOM, which contributes to attracting diverse real estate offers that meet the market’s needs, which directly affects the achievement of the following Vision 2030 goals:

• Increase foreign investment.
• Creating job opportunities.
• Promoting digital transition.

The role of property valuation in achieving Vision 2030:

• Estimating the real value: Real estate valuation helps in determining the real value of real estate according to market requirements.
• Supporting real estate investment processes: Real estate valuation contributes to guiding investment decisions.
• Achieving sustainable real estate development: valuation helps distribute potential more efficiently by identifying suitable areas for development and investment based on market demand and potential returns. This can lead to sustainable development by avoiding unwarranted growth in some areas and encouraging development in areas that are underutilized or in high demand.

The real estate sector has a role to play in achieving the goals of Vision 2030, and professional real estate valuers must adhere to the international standards approved by the Saudi Authority for Accredited Valuers to ensure the accuracy of the valuation and successfully achieve the goals of the vision.