Riyadh - Sharikat Mubasher: Saudi Arabia’s Real Estate General Authority (REGA) launched a property technology (proptech) business accelerator program to accelerate the growth of real estate startups and raise their contribution to the gross domestic product (GDP), in alignment with Vision 2030 objectives.

The proptech accelerator was launched in partnership with the National Technology Development Program (NTDP) and the global startup accelerator Startup Wise Guys, REGA revealed in a statement.

The first edition of the accelerator, which will be held at the authority's headquarters, aims to set up real estate startups and connect them with angel investors and investment funds to enhance their contribution to the national economy.

The accelerator features several training and workshops as well as mentorship and guidance sessions held by key experts and specialists in the sector.

This program aligns with REGA’s strategy to promote proptech in the Saudi real estate market, achieve the highest levels of digital maturity, and establish leading proptech startups regionally and globally.

Through the partnership with NTDP, the authority aims to support the Saudi private sector and adopt innovative solutions, initiatives, applications, and tech services that pave the way for advancing the real estate sector.