Saudi Arabia, the region’s largest economy, is progressing towards diversification under Vision 2030. The digital economy is a standout performer, contributing 14% of GDP, while government-led giga-projects open long-term opportunities across various sectors. Despite a dip in oil activities that reduced the current account surplus to 3.2% in 2023, tourism income surged by 38%, boosting the servi
Cityscape Global 2024: Step into the Future of Living Cityscape Global, the world’s premier real estate event, is back with its largest edition yet! Mark your calendar for 11-14 November 2024, as this groundbreaking edition takes place at the Exhibition and Convention Center in Malham, Riyadh, KSA. This year, Cityscape Global is set to revolutionize the real estate landscape with dynamic new…
On developments in sustainability and efforts to boost home ownership In what ways is the current regulatory environment impacting the growth of sustainable real estate development? ABDULLAH AL HABIB: Saudi Arabia has made significant strides in promoting sustainable real estate development, driven by a regulatory environment that is increasingly focused on sustainability and mitigating…
On the trends shaping the Kingdom’s real estate market Which factors are driving the growth of the real estate sector in Saudi Arabia, especially in relation to the economic diversification efforts outlined in Vision 2030? DAVID GROVER: The market in Saudi Arabia has experienced a significant transformation in recent years. Giga-projects have been instrumental in driving investment across…
The Kingdom of Saudi Arabia is experiencing a period of sustained economic growth, outperforming other G20 nations in 2022. This expansion is attributed to higher global energy prices, resulting in a fiscal surplus and supporting diversification efforts and the non-oil sector.
With temperatures in cities set to rise in the coming decades, many public and private players in emerging markets are looking to tackle the challenge of extreme heat through technology, sustainable building techniques and the expansion of urban green spaces. Heat Consequences The Covid-19 pandemic helped spur the growth of smart cities, with national and municipal governments tapping into data-collection…
Saudi Arabia’s economic rebound following the Covid-19 pandemic and the progress made on Vision 2030 projects have created a favourable set of conditions for real estate and construction activity. In September 2023 the Riyadh International Convention and Exhibition Centre is set to host the Saudi Infrastructure Expo, an event at which an estimated $1trn worth of smart city, tourism and clean energy…
Interview:Fabrice Susini How do you assess the performance of the mortgage market in the years prior to 2023? FABRICE SUSINI: The market grew throughout 2022, even though the pace was slower than in 2020-21. This is due in part to rising interest rates, increasing prices for mortgages, which had an impact on potential borrowers. Nevertheless, the fundamental elements sustaining the growth of…
Saudi Arabia’s economic rebound following the Covid-19 pandemic and the progress made on Vision 2030 projects have created a favourable set of conditions for real estate and construction activity. In September 2023 the Riyadh International Convention and Exhibition Centre is set to host the Saudi Infrastructure Expo, an event at which an estimated $1trn worth of smart city, tourism and clean energy…
On creating investment opportunities and fostering sustainable infrastructure development What are your expectations regarding demand for luxury real estate in Saudi Arabia? VINCENT MICCOLIS: The Kingdom has undertaken significant economic and social reforms in line with Vision 2030, which has opened opportunities for investment and development. The government is actively promoting the growth…
