Real Estate & Construction

After a period of stabilisation in which the government implemented a number of reforms, the real estate and construction sectors are preparing for the introduction of a range of projects under the Saudi Vision 2030 initiative. Lower oil prices and the resulting fiscal consolidation of the state cooled demand in 2016 and early 2017; however, public and private investment is set to pick up again and the implementation of the NTP and Vision 2030 will have a huge impact on the construction industry if its planned mega-projects are rolled out according to schedule. Increased demand should stem from a growing range of segments, including affordable housing, transport, tourism and commercial space for international tech developers.

This chapter contains interviews with Majed Al Hogail, Minister of Housing; and Khalid S Aljasser, CEO, Arabian Centres.