Close Menu
    Facebook X (Twitter) Instagram
    • Contact Us
    • Advertise With Us
    • Magazine Archive
    • Subscribe Newsletter
    Facebook X (Twitter) Instagram LinkedIn YouTube
    Construction Business News Middle East
    • News
    • Analysis
    • Expert Insight
    • Machinery
    • Suppliers
    • Interviews
    • Events
      • Awards
        • 2025
          • CIA 2025
          • LTA 2025
          • FM Awards 2025
          • LTA KSA 2025
          • Pillars of Real Estate Awards 2025
          • CIA KSA 2025
          • Sustainability Innovation Awards 2025
          • MEP Awards 2025
        • 2024
          • CIA 2024
          • LTA 2024
          • FM Awards 2024
          • Sustainability Innovation Awards 2024
          • MEP Awards 2024
          • Pillars of Real Estate Awards 2024
          • LTA KSA 2024
          • CIA KSA 2024
        • 2023
          • LTA 2023
          • CIA 2023
          • Sustainability Innovation Awards 2023
          • FM Awards 2023
          • MEP Awards 2023
          • CIA KSA 2023
          • LTA KSA 2023
        • 2022
          • Sustainability Innovation Awards 2022
          • LTA 2022
          • CIA 2022
          • MEP Awards 2022
          • FM Awards 2022
        • 2021
          • CIA 2021
          • MEP Awards 2021
          • LTA 2021
          • CIA 2021 KSA
          • FM Awards 2021
        • 2020
          • Construction & FM 2020
        • 2019
          • CIA 2019
          • LTA 2019
        • 2018
          • CIA 2018
          • LTA 2018
        • 2017
          • CIQ 2017
      • Forums
        • 2025
          • Logistics Forum 2025
          • Sustainability Innovation Forum 2025
          • Construction & Design Innovation Summit KSA
        • 2024
          • Logistics Forum 2024
          • Construction Innovation Summit Saudi 2024
          • Sustainability Innovation Forum 2024
        • 2023
          • Construction Innovation Forum 2023
          • LNME Connect
          • Sustainability Innovation Forum 2023
          • KSA Saudi Connect
          • Logistics Forum 2023
        • 2022
          • Innovation in FM Forum 2022
          • Logistics Forum 2022
        • 2019
          • CID Forum 2019
          • CIF 2019
        • 2018
          • CIF 2018
    • Powerlist
      • Construction Business News
        • MEP Powerlist
          • 2025
          • 2024
          • 2021
        • Power Hour
          • 2024
          • 2023
          • 2022
          • 2021
          • 2020
        • FM Power 30
          • 2024
          • 2023
          • 2022
          • 2021
        • Construction Business News
          • 2019
          • 2016
      • Logistics News ME
        • Editors Choice
          • Top Ports in the Middle East 
        • Power 40
          • 2023
        • Power 25
          • 2025
          • 2022
          • 2021
          • 2020
          • 2018
          • 2017
          • 2016
        • LAST-MILE HEAYWEIGHTS
    • Videos
      • Construction Business News ME
      • Logistics News ME
    • Logistics News ME
    • Contact Us
    • Advertise With Us
    • Magazine Archive
    • Subscribe Newsletter
    Construction Business News Middle East
    Home»News»Beyond Oil & Towards Innovation: Inside Saudi Arabia’s Real Estate Renaissance
    News Suppliers

    Beyond Oil & Towards Innovation: Inside Saudi Arabia’s Real Estate Renaissance

    Kasun IllankoonBy Kasun IllankoonAugust 7, 2023Updated:August 8, 2023
    Share Facebook Twitter Pinterest Copy Link LinkedIn Tumblr Email
    Construction 1 wecompress.com
    Share
    Facebook Twitter LinkedIn Pinterest Email Copy Link

    The dynamic interplay between real estate investment and economic growth has consistently been recognised as a powerful catalyst that drives economies towards prosperity. Nowhere is this more evident than in Saudi Arabia, where a $1 trillion pipeline of infrastructure and real estate projects is transitioning the economy beyond oil and transforming the Kingdom into a hub for logistics and investments.

    From 315,000 new hotel keys by 2030 to sustainable megalopolises like NEOM, the real estate sector  underpins Saudi Arabia’s incredible metamorphosis. This is also evident in how investors are responding to the arising opportunities. Investcorp Holdings, the Middle East’s largest asset managers, is one of the latest to have announced plans to invest upward of $1 billion in the Saudi real estate sector over the course of five years.

     

    Economic Diversification and Real Estate Transformation

    Recognising the need to reduce its vulnerability to oil price fluctuations and create sustainable growth opportunities, the Kingdom has implemented bold reforms and ambitious plans to transform its economic landscape. The real estate sector’s growing significance in Saudi Arabia stems from its potential to drive economic growth, attract foreign investment, create employment opportunities, and enhance the quality of life for citizens.

    As the Kingdom seeks to develop various non-oil industries, such as tourism, entertainment, finance, and technology, the demand for modern and well-equipped real estate assets has soared – a trend that will continue to define the market for the next few years. Real estate contributes around 7% of Saudi Arabia’s GDP , 9.4 percent of the kingdom’s non-oil GDP, and supports more than 120 other sectors. According to PwC, it has created 40,000 job opportunities as of 2021. The goal is to increase the sector’s contribution to 10% of the total GDP by 2030.

     

    Government initiatives and investment opportunities

    Vision 2030, the blueprint that outlines Saudi Arabia’s long-term goals for economic diversification and social transformation, is one of the key drivers of the real estate sector’s rising prominence.

    Giga projects such as NEOM, Qiddiya, the Red Sea Project, have become catalysts for significant investments in Saudi Arabia and have captured the attention of both domestic and foreign investors, driving a surge in investment activity. To augment this further, the Saudi Arabian government has implemented a range of policy incentives that have created a fertile ground for investments.

    In a bid to attract more foreign investment, Saudi Arabia has recently relaxed its property ownership laws for foreigners.  Under the new law, foreigners are allowed to own real estate assets across commercial, residential, and agricultural sectors anywhere in the Kingdom. Additionally, the government’ levy of 2.5% white tax on undeveloped, vacant plots has also increased the volume of plots available for development in urban areas.

    To meet the ambitious goals laid out in Vision 2030, Saudi Arabia is placing great emphasis on attracting foreign direct investment (FDI). By 2030, the Saudi Arabian government aims to reach USD 100 billion in annual FDI – a goal that seems reachable if current investment trends areto continue.

    Conclusion

    Since the announcement of Vision 2030 in 2016, Saudi Arabia has captivated the world with its ambitious plans for a vibrant society and a thriving economy. As a testament to the nation’s commitment to showcasing its remarkable real estate market, the highly-anticipated Cityscape Global nexhibition takes centre stage in September in Riyadh. Renowned for launching groundbreaking projects includingthe Burj Khalifa and Battersea Power Station, this year’s record-breaking event steps into the Future of Living, exploring trends and innovations across sustainable real estate investments in Saudi Arabia and globally.

    Cityscape Global, www.cityscapeglobal.com

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Dubai Metro’s Burj Khalifa Station Set for Major Upgrade to Serve 220,000 Daily. Image source: Shutterstock

    RTA To Expand Burj Khalifa/Dubai Mall Metro Station By 65%

    June 23, 2025
    Amaal and Mansory: The residences will range from one- to three-bedroom layouts and 8 full-floor penthouse residences

    Amaal And MANSORY Launch AED 1.8 Billion MANSORY Residences In Dubai

    June 23, 2025
    Flux Halo is set to become a global benchmark in immersive stadium design, as Trosmic Sports introduces its ambitious new concept for the GCC

    Trosmic Sports Unveils Plans For Flux Halo, A $1 Billion Next-Gen Indoor Stadium

    June 23, 2025
    Top Posts
    Dubai Metro’s Burj Khalifa Station Set for Major Upgrade to Serve 220,000 Daily. Image source: Shutterstock

    RTA To Expand Burj Khalifa/Dubai Mall Metro Station By 65%

    June 23, 2025
    Amaal and Mansory: The residences will range from one- to three-bedroom layouts and 8 full-floor penthouse residences

    Amaal And MANSORY Launch AED 1.8 Billion MANSORY Residences In Dubai

    June 23, 2025
    Flux Halo is set to become a global benchmark in immersive stadium design, as Trosmic Sports introduces its ambitious new concept for the GCC

    Trosmic Sports Unveils Plans For Flux Halo, A $1 Billion Next-Gen Indoor Stadium

    June 23, 2025
    Samana Ocean Views Interiors by Elie Saab - Garden Villa

    Samana Developers Reports 86% Of Property Sales From Foreign Buyers

    June 23, 2025
    Stay In Touch
    • Twitter
    • Instagram
    • LinkedIn
    • YouTube

    Construction Business News is an original title by media production house BNC Publishing, covering the Middle East’s lucrative construction market.

    Facebook X (Twitter) Instagram YouTube LinkedIn
    Our Publications
    • Hotel & Catering News ME
    • Logistics News ME
    • Design Middle East
    • Entrepreneur ME
    Get in touch

    Building #10, Floor #2,
    Office 234, 235 & 236, Dubai Media City,
    Dubai, United Arab Emirates

     +971 4 420 0506

     sales@bncpublishing.net

    • Contact Us
    • Advertise With Us
    • Magazine Archive
    • Subscribe Newsletter
    Copyright © 2025 BNC Publishing. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.