Over 200 global investment leaders participate in Real Estate Development Summit in Saudi Arabia
The 19th Real Estate
Development Summit Saudi Arabia – Luxury Edition concluded after two days
of high-level dialogue, deal-making and strategic collaboration, bringing
together more than 800 investors, developers and industry leaders shaping the
Kingdom’s fast-evolving built environment.
Held under the theme “Together
Towards Tomorrow”, the summit highlighted the unprecedented scale of Saudi
Arabia’s transformation, with the real estate and construction pipeline now exceeding
$2 trillion. Speakers emphasised how the Kingdom is redefining global
benchmarks in development, hospitality, sustainability and design under Vision
2030.
Investment and sustainability in
focus
Opening the summit, Ravi Kumar
Chandran, Founder and Managing Director of GBB
Venture, announced the launch of the event’s first dedicated investment
track, welcoming over 200 global investment leaders. He also revealed a
strategic partnership with VCM to deliver a net-zero summit through carbon
measurement, reduction and offsetting, reinforcing Saudi Arabia’s growing
leadership in sustainable development.
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The opening fireside discussion,
moderated by Lama Alhamawi, Head of Diplomacy and Foreign Affairs at Arab
News, featured Eng. Essam Ahmad Kalthoum, CEO of Asmou Development Company.
Drawing on more than 40 years of experience, he highlighted shifting demand
towards smart, compact and amenity-rich housing, the rise of mixed-use and
high-rise developments, and regional expansion into Cairo, Muscat and Amman. He
stressed that strong governance, ESG alignment and public listings are critical
for long-term credibility and growth.
Localisation and industrial
expansion
A major industry announcement came
from Jalal Al Kurdi, Commercial Director at HH Shaker, with the unveiling of Midea
Shaker Company (MSA), a joint venture aimed at accelerating manufacturing
localisation. The project will begin with a 20,000-square-metre facility
producing up to 650,000 air-conditioning units annually, before expanding to
85,000 square metres to include component manufacturing such as compressors and
robotics. The facility is expected to support giga-projects including NEOM, the
Red Sea and Qiddiya, while positioning Saudi Arabia as an export hub for the
GCC and Levant.
Osan Ghaddaf, Founder and Creative
Director of Artevo Consulting, explored how art can transform developments into
immersive cultural destinations rather than purely decorative spaces.
Referencing projects such as The Red Sea, Diriyah Gate and the Qatar National
Museum, he highlighted storytelling and experiential installations as defining
elements of luxury development.
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Nicolás Otero, Business Development
Manager at BIOO, introduced biotechnology solutions that generate electricity,
save water and cool urban environments through biopanels, bioswitches and
bioluminescent landscapes. With implementation readiness and projected returns
within five to seven years, the technologies position Saudi Arabia at the
forefront of biotech-enabled urban development.
Tetyana Kovalenko, Founder and
Chairwoman of Elite Stone Srl., examined luxury through the lenses of legacy,
exclusivity and economic value, citing her 2,000-year-old Italian quarry as an
example of enduring craftsmanship and global recognition.
Carbon markets and net-zero ambition
Miklós Veszprémi, Senior Strategic
Partnerships Manager at VCM, outlined the rapid growth of Saudi Arabia’s
voluntary carbon market, established in 2021 with support from the Public
Investment Fund. He positioned sustainable real estate not only as a regulatory
requirement, but also as a significant financial opportunity aligned with
Vision 2030.
Human-centric design and future
cities
Ron Bakker, Co-Founder of PLP
Architecture, presented a shift from purely smart and sustainable buildings
towards human-centred architecture rooted in biophilia and research-led design.
Case studies from Rotterdam, Tokyo, London and Riyadh demonstrated how public
realm quality, mobility and integrated lifestyles enhance urban vitality.
The panel Art of Enhancing
Experiences, moderated by Siddharth Peters of Love That Design, brought
together leaders from Kristina Zanic Consultants, Dar Global, Banyan Tree
Hotels & Resorts, Wimberly Interiors and Diriyah Company. Discussions
centred on storytelling, cultural heritage, wellness and indoor-outdoor living
as core pillars of modern luxury hospitality.
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Another panel, Innovation
Defining the Real Estate Projects of Tomorrow, moderated by John Fekete,
General Manager at CBRE Saudi Arabia, explored AI integration, digital
transformation and new financing models enabling public-private partnerships.
Speakers emphasised aligning technology with cultural identity to create
distinctive destinations.
Market outlook and investor
confidence
Matthew Green, Head of Research at
CBRE MENA, delivered a 2025 market outlook, noting that real estate now
contributes around 12% of Saudi Arabia’s GDP. Riyadh’s office market is
operating at 98% occupancy, with rents rising by around 15% annually, while
residential development is accelerating towards 200,000 new units by 2030.
Regulatory reforms, foreign investment and sovereign fund participation
continue to underpin growth.
The summit also featured multiple
signing ceremonies, including the launch of 26H Jeddah, a mixed-use development
comprising a 270-key Hilton Tempo hotel, residential units and retail space, as
well as the announcement of a luxury hotel and residential tower on Jeddah’s
Corniche—both underscoring sustained investor confidence.
In addition, the event introduced
the GBB Future Minds Programme, engaging students from Effat University with
global architects and designers, and concluded with the REDS Industry Choice
Awards (RICA 2025), recognising excellence across Saudi Arabia’s real estate,
architecture and design sectors.
Across the summit, a clear message
emerged: Saudi Arabia remains one of the world’s most dynamic real estate
markets, driven by Vision 2030 ambition, institutional capital and global
confidence. Industry leaders stressed the need to balance financial returns
with sustainability, placemaking and cultural authenticity to deliver long-term
value.
With its net-zero commitment
delivered in partnership with VCM, the summit set a new benchmark for
responsible industry leadership, reinforcing Saudi Arabia’s growing role in
shaping the future of global real estate.
Source: Arabian Business
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