Construction & Real Estate

The Saudi real estate and construction sectors have been experiencing a period of rapid expansion due in part to a string of giga-projects and an economy rebounding from the Covid-19 pandemic. Indeed, the Kingdom is currently engaged in some of the largest construction projects in the world, including NEOM, the $500bn new city in the north-west, and developments on the Red Sea coast and in the capital city, Riyadh. At the same time, population growth and a young demographic are pushing demand for a range of real estate options and supporting infrastructure such as mass transit. All of this is taking place within the framework of Saudi Arabia’s long-term socio-economic development plan, Vision 2030, which seeks sustainable growth and economic diversification.

This chapter contains an interview with Gautam Sashittal, CEO, King Abdullah Financial District.