Construction & Real Estate

Saudi Arabia’s construction and real estate sectors are thriving, with a $1.5trn project pipeline driving economic transformation under Vision 2030. The Kingdom leads global construction activity, with developments ranging from luxury resorts to urban projects. Key initiatives include the National Infrastructure Fund, which aims to support up to $53.3bn in investment by 2030. The sector’s growth is further bolstered by regulatory reforms, such as eased foreign ownership rules and tax adjustments. In real estate, demand for residential, commercial and leisure spaces is rising, driven by population growth and efforts to diversify the economy. These sectors offer abundant opportunities for both local and international investors, playing a critical role in the Kingdom’s transformation. This chapter also contains an interview with Mohammed bin Saleh Albuty, CEO, National Housing Company; and Sultan Alshalash, Chairman, Alaqtar Real Estate Development.

Articles from this Chapter

Overview

Going up: A surge of activity stands to buoy building and property activity, propelled by long-term goals aligned with Vision 2030
OBG
plus

Saudi Arabia’s construction and real estate sectors are booming as the Kingdom continues on its path to comprehensive socio-economic transformation under Vision 2030. It is currently a world leader for construction activity, with a pipeline of projects valued at around $1.5trn, according to 2024 data from real estate services company JLL. These developments, however, go beyond simply expanding the country’s infrastructure and housing to accommodate its growing population; rather, they are rooted…

Interview

Setting foundations: Mohammed bin Saleh Albuty, CEO, NHC, on efforts to increase home ownership among young people
OBG
plus

Interview: Mohammed bin Saleh Albuty, CEO, National Housing Company What role do environmentally sustainable building designs play in urban community development? MOHAMMED BIN SALEH ALBUTY: Sustainability requires a comprehensive approach that influences the entire value chain. It is necessary to consider the key elements of sustainability, which include economic, social and environmental dimensions. For example, using solar panels, recyclable materials and efficient waste management practices…

Interview

Structural change: Sultan Alshalash, Chairman, Alaqtar Real Estate Development, on evolving regulations and emerging trends
OBG
plus

Interview: Sultan Alshalash, Chairman, Alaqtar Real Estate Development How has the real estate market changed in recent years in terms of regulations and market demand? SULTAN ALSHALASH: Saudi Arabia’s real estate market has been transformed over the last 10 years, largely driven by regulatory changes. For decades Saudi urban development and real estate lagged behind other GCC markets due to the lack of a structured regulatory framework. Key provisions, such as those governing off-plan land sales,…

Analysis

Home advantage: The residential real estate market continues to gain momentum
OBG
plus

Under the banner of its Vision 2030 programme – a far-reaching roadmap for economic diversification and modernisation – Saudi Arabia has set an ambitious target of 70% home ownership by 2030 and has enacted a comprehensive strategy to achieve this goal. The government’s proactive approach, underpinned by substantial public investment, market liberalisation and a host of supportive initiatives, has already yielded notable results, with home ownership rates rising and property development flourishing…