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Marcopolis presents the Saudi Arabia Report focused on the investments, doing business, economy and other topics featuring interviews with key executives. The sectors under review in this issue are industry, real-estate, ICT, investments, banking sector, telecom sector and many more.
VideosMarch 29, 2021
Al-Saedan Real Estate Co: Assessment of the Real Estate Sector in Saudi Arabia
- Written by Sandra Francisco
- Published: March 29, 2021
Bader Al-Saedan, General Manager of Al-Saedan Real Estate Co, one of the top leading real estate companies in Saudi Arabia, shares his assessment of the real estate sector in the country.
"Everything starts with real estate. For any project, you start with land. All sectors start with real estate developments. Whether it is residential, commercial, industrial, entertainment, everything starts with the land development process, and that is where our main business is. We start developing the land and then join forces with sub developers. If we start developing residential land, we look for residential sub developers to build their own residential projects. If it is industrial, of course, we look for industrial developers to start developing. But with the New Vision now in Saudi Arabia, the focus has been moved to mostly residential and entertainment. We have the new mega projects in Saudi Arabia, such as NEOM, Red Sea, and Qiddiya. These mega projects have attracted real estate developers and investors from all over the world, including the locals, of course. Any international real estate investor needs the local real estate player first. When I want to start real estate business in Europe, for example, in France, I have to start with local real estate investor development. So, we are looking for international investors to join forces with local real estate developers and real estate investors on all these mega projects in Saudi Arabia. The last project that was announced by the Crown Prince was The Line City in NEOM. It is a great project, a huge project that needs many years to be completed and it needs a lot investments, force, thinkers, investors, all types of investments to build that city. It is a great project and a very nice location. The real estate sector is booming all around Saudi Arabia. Saudi Arabia is a big country with beaches, the desert, mountains. All types of geography can be found in this country. It is really a great location for vacationers and for all types of sports such as water sports, desert sports, etc., because of those various climates. The Dakar Rally is in Saudi Arabia for its second year now. And, of course, in terms of religious visitors, they can visit so many places in the country, including ancient places that have just opened to visitors recently. This makes a great opportunity for all types of investors to start investing in the country", says Bader Al-Saedan.
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