Riyadh: The Ministry of Investment (MISA) leads a major delegation of Saudi companies at MIPIM in Cannes this week. The contingent working under the umbrella of “Invest Saudi” will introduce international investors to opportunities in Saudi Arabia.
The Saudi delegation includes MISA, the Ministry of Municipal Rural Affairs & Housing the Royal Commission for Riyadh City. The National Housing Company, ROSHN, and Ajdan. The contingent encompasses leading real estate developers of the Kingdom. The delegates will present a range of unique projects across the country.
The Invest Saudi pavilion at MIPIM showcases the investment opportunities for innovative and ambitious investors.
International real estate investors expect to play a vital role in delivering several key government initiatives. These include expanding homeownership developing the leisure and entertainment sectors. And establish Riyadh as the prominent regional business hub.
Recommended: How to invest in the Saudi Arabia Stock Exchange?
The Kingdom currently sees $20.5bn demand for real estate services – demonstrating scale and diversity of available opportunities.
Government efforts have dramatically increased new home demand and homeownership to 70%. This is in tandem with population growth, expected to reach nearly 45 million by 2050.
The pavilion is also showcasing opportunities in other parts of the industry. In commercial real estate, growth is being driven by Saudi Arabia’s emergence as a leading regional business hub – with solid demand driving 4% growth in office rents in Riyadh in 2021 and reducing vacancy rates in the capital to just 3%.
The growth of the entertainment, retail, and tourism sectors is bringing international visitors to the Kingdom. It means that an increased share of domestic income will be spent locally.