Vision 2030 Drives Saudi Real Estate Growth
Saudi Arabia’s real estate sector is witnessing significant changes under the Vision 2030 initiative, as highlighted by Dar Al Arkan’s chairman at the World Economic Forum in Davos.
Yousef A. Al-Shelash emphasized that Vision 2030 is transforming not just real estate but the entire economy, setting new regulatory standards to meet global expectations.
Saudi Arabia, as a major global economy, is aiming to enhance living standards with a focus on affordable housing. Government efforts are ensuring these objectives are met, addressing the housing demands of a growing population.
Key government bodies like the Public Investment Fund and the Ministry of Housing are pivotal in elevating industry standards, positioning the government as both developer and service provider.
Beyond affordable housing, there is a surge in demand for luxury properties, with over 3,000 brokers catering to international investors interested in Saudi real estate.
Dar Global, part of Dar Al Arkan, has listed on the London Stock Exchange, marking a strategic move to engage with regulated markets and enhance collaboration with regional partners.
Sustainable development is a priority, with Dar Al Arkan focusing on incorporating technology and green practices in its projects, both locally and internationally.