Saudi Arabia’s Reforms Making it Vibrant Real Estate & Construction Market

BY Realty Plus

Saudi Arabia’s combination of huge investment and building-friendly planning laws makes it one of the most vibrant real estate and construction markets in the world, says ROSHN Group CEO David Grover, who is in London speaking at the UK-Saudi Business, Trade and Partnership Forum.

“Saudi Arabia is embarking on a massive home-building journey with the goal that 70% of Saudis will own their own homes by 2030. This is made possible by the Saudi Government’s incredible support for the real estate sector,” Grover told the audience of industry leaders and top government officials from Saudi Arabia and the UK. 

With the backing of Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), ROSHN plans to spend tens of billions of pounds to build integrated communities that will house over 2.2 million people by 2030. 

“Our vision for ROSHN is to transform the way people live, work, and play throughout Saudi Arabia while maintaining and promoting the cultural identity of the nation. We’re seeking partnerships across a vast range of activity, from design and construction, to IT, operations and maintenance, and security. There are huge opportunities for UK companies and talented individuals in the sector. You have the chance to be part of a historic transformation, while enjoying fantastic quality of life in Saudi Arabia, including world-class healthcare, schools and leisure activities,” said Grover, who formerly served as Group Director of Mace and CEO of Mace Developments. 

ROSHN started as a residential builder but has evolved into a mixed-use developer that offers Saudi residents a new way of living. It has made significant strides since it was established, having launched two developments in Riyadh, one in Jeddah, and its latest project in Al Ahsa. In 2022, ROSHN Group acquired Riyadh Front, a mega business and leisure development in Riyadh. The sprawling shopping and business area offers residents easy access to some of the capital’s top retail attractions.

ROSHN’s industry-leading sustainability agenda includes decreasing automotive dependency by encouraging environmentally friendly modes of transport, improving energy efficiency through high-tech insulation, solar water heaters, and more efficient air-conditioning, and it aims to plant more than 1 million trees across its projects by 2030, in line with the goals of the Saudi Green Initiative. 

“ROSHN is bringing something completely new to the Saudi market. Unlike traditional urban planning that prioritizes cars, our community-based approach is centred on people. We facilitate enjoyable and fulfilling lifestyles by strategically locating health, education, sports, retail, and entertainment amenities within walking distance of every home. We also place great emphasis on social interaction by providing attractive public spaces, communal facilities,” said Grover.

Tags : Saudi Arabia combination huge investment building-friendly planning laws real estate construction markets world David Grover CEO ROSHN Group UK London UK-Saudi Business Trade and Partnership Forum residential builder