Riyadh: The Saudi Investment Promotion Authority (SIPA) signed a memorandum of understanding (MoU) to host MIPIM Middle East in Riyadh, in partnership with RX Arabia. The exhibition is scheduled to take place on October 20 and 21, reflecting the growing stature of the Kingdom of Saudi Arabia as a regional and global hub for real-estate and infrastructure investment.

According to Saudi Press Agency, the MoU aims to establish a strategic and sustainable partnership between the two parties to host the exhibition in Riyadh this year, with the possibility of implementing subsequent initiatives and events in other major cities across the Kingdom. It will create investment opportunities, accelerate urban development, and support the Kingdom's ambitious growth objectives.

SIPA Chief Executive Khaled Al-Khattaf explained that the memorandum embodies the commitment of the Kingdom's investment ecosystem to developing the investment environment, enhancing its competitiveness, and supporting rapid growth in the real-estate and infrastructure sectors.

He affirmed that hosting the exhibition in Riyadh strengthens the Kingdom's position as a primary gateway to regional investment opportunities and a leading global business hub, while providing a strategic platform for investors to engage directly with high-quality opportunities in the Kingdom's real-estate sector.