The 19th Real Estate Development Summit Saudi Arabia, themed "Together Towards Tomorrow," recently concluded its Luxury Edition. It brought together over 800 key leaders, investors, and decision-makers actively shaping the Kingdom’s burgeoning built environment.
The summit highlighted the remarkable transformation occurring across Saudi Arabia, with the real estate and construction sectors now exceeding a $2 trillion development pipeline, setting new global benchmarks in development, hospitality, and innovation.
Ravi Kumar Chandran, the Founder and Managing Director of GBB Venture, the summit organiser, opened the event by highlighting the introduction of the summit's first dedicated investment track. This featured over 200 international investment leaders, and coincided with a new partnership with VCM to achieve net-zero emissions through comprehensive carbon management initiatives. This move underscores Saudi Arabia’s commitment to sustainability and environmental leadership.
During a fireside conversation led by Lama Alhamawi, Head of Diplomacy & Foreign Affairs at Arab News, Eng. Essam Ahmad Kalthoum, CEO of Asmou Development Company, shared insights from his 40 years in development. He emphasised the rapid evolution in demand for smart, amenity-rich housing, and discussed major projects across Saudi Arabia and expansions into Cairo, Muscat, and Amman. Highlighting governance and ESG commitments, he underscored the value of public listing for long-term success.
A significant industry announcement was made by Jalal Al Kurdi, Commercial Director at HH Shaker, about the launch of Midea Shaker Company (MSA). This joint venture will establish a 20,000 sqm facility capable of producing 650,000 AC units annually, later expanding to 85,000 sqm including components and robotics manufacturing. Supporting major projects like NEOM, this initiative will bolster local employment and elevate Saudi Arabia’s status as a regional export hub.
Osan Ghaddaf, Founder and Creative Director of Artevo Consulting, demonstrated how art can redefine cultural destinations. Artevo’s work on projects such as The Red Sea, Diriyah Gate, and the Qatar National Museum illustrated the power of storytelling and experiential installations in creating unique luxury developments.
Nicolás Otero of BIOO unveiled groundbreaking biotechnology transforming green spaces into sources of electricity and water conservation. These advancements, like biopanels and bioswitch installations, promise significant ROI and reinforce Saudi Arabia’s position as a leader in biotech-driven urban innovation.
Tetyana Kovalenko, Founder of Elite Stone Srl., discussed the essence of luxury, rooted in legacy, quality, and exclusivity, supported by her company’s heritage dating back 2000 years. This perspective emphasised luxury's economic value and limited availability.
Miklós Veszprémi from VCM detailed the rise of voluntary carbon markets in Saudi Arabia, highlighting their critical role in the Kingdom’s net-zero strategy. These markets facilitate corporate transitions to sustainable practices, integral to Vision 2030’s goals.
Ron Bakker of PLP Architecture advocated for a shift towards human-centric, research-driven design. With projects in cities like Rotterdam and Riyadh, he noted how integrating public spaces and community-oriented structures enriches urban life.
The panel discussion "Art of Enhancing Experiences" focused on evolving hospitality trends, emphasising storytelling and sensory design as crucial to modern travellers seeking meaningful, authentic experiences. Experts like Kristina Zanic and Dharmali Kusumadi highlighted wellness and community as central to design strategies.
The "Innovation Defining Real Estate Projects" session delved into AI and digital transformation within the sector, stressing cultural identity integration for memorable developments. Notable figures like Eng. Faisal bin Abdulrahman Alnasser and Mohammed Habis underscored the importance of innovative financing in public-private partnerships.
Matthew Green from CBRE MENA provided an overview of the real estate market up to 2025, stressing Saudi Arabia’s economic momentum driven by infrastructure reforms and major global events like Riyadh Expo 2030. With residential developments accelerating, the real estate sector now comprises around 12% of the national GDP.
Multiple signing ceremonies at the summit announced major new developments, including the 26H Jeddah project—a mixed-use site featuring the first Hilton Tempo Hotel outside the USA. These partnerships signify ongoing confidence in the Saudi market.
The panel "Unveiling Saudi's Investment Potential" highlighted the Kingdom's shift towards value-driven development, marked by significant foreign investment and infrastructure growth. Discussions pointed to opportunities beyond major cities, positioning Saudi Arabia as an attractive long-term investment destination.
Harmen De Jong from Knight Frank shared insights into the burgeoning tourism sector, which now accounts for 6.1% of the GDP. Anticipated growth aims at increasing this to 10% by 2030, with an expansion in hotel capacity and visitor numbers continuing to set ambitious new records.
The session on "Investment in Branded Residences in Egypt" explained how these developments are reshaping market expectations through premium standards and long-term investment potential.
The "Built for Returns" panel, led by Susan Amawi, examined the shift towards sustainable, mixed-use developments under Vision 2030, emphasizing ESG and community value as essential for future growth.
The GBB Future Minds Program involved university students in discussions on resilient urban development. Collaborations with industry veterans offered mentorship and insights into shaping the Kingdom’s future built environment.
The REDS Industry Choice Awards celebrated excellence in Saudi Arabia’s real estate and design sectors, aligned with Vision 2030. Organisations and professionals were recognised for their contributions to industry transformation, setting new benchmarks in development creativity and sustainability.
The summit affirmed Saudi Arabia’s position as a dynamic force in global real estate, blending financial, environmental, and community-driven goals for enduring success. With initiatives like GBB's Net-Zero pathway, the event demonstrated a commitment to sustainable innovation, setting a high standard for the sector's future.
The 19th Real Estate Development Summit Saudi Arabia – Luxury Edition successfully concluded after two days of high-level exchange, strategic collaboration, and global networking, bringing together more than 800 leaders, investors, and decision makers shaping the future of the Kingdom’s rapidly evolving built environment.
Held under the theme “Together Towards Tomorrow,” the summit showcased the unprecedented transformation underway across Saudi Arabia, where the real estate and construction pipeline has surpassed $2 trillion, redefining global standards of development, hospitality, and innovation.
A milestone moment for leadership
In the welcome address, Ravi Kumar Chandran, Founder & Managing Director – GBB Venture, as the organiser, highlighted the launch of the summit’s first dedicated investment track, featuring over 200 global investment leaders, and announced a strategic partnership with VCM to ensure the event achieved net-zero emissions through carbon measurement, reduction, and offsetting, reinforcing Saudi Arabia’s leadership in sustainability.
Developer leadership & regional growth
In the opening session of the summit, on a fireside conversation lead by Lama Alhamawi, Head of Diplomacy & Foreign Affairs - Arab News, with the speaker Eng. Essam Ahmad Kalthoum, Chief Executive Officer – Asmou Development Company, reflected on 40 years of development experience, highlighting rapid growth and evolving demand for smart, compact, amenity-rich housing.
He discussed major mixed-use and high-rise projects across the Kingdom and regional expansion into Cairo, Muscat, and Amman, emphasising governance, ESG, and public listing as critical for credibility and long-term success.
Localisation & industrial expansion
In a major industry announcement, Jalal Al Kurdi, Commercial Director - HH Shaker, unveiled the launch of Midea Shaker Company (MSA), a joint venture marking a transformational step in manufacturing localisation. The project begins with a 20,000 sqm facility with capacity for 650,000 AC units annually, expanding to 85,000 sqm with components manufacturing including compressors and robotics.
Supporting giga-projects like NEOM, Red Sea, and Qiddiya, the facility will generate employment, raise installation standards, and establish Saudi Arabia as a regional export hub for the GCC and Levant.
Art as experience
Osan Ghaddaf, Founder and Creative Director - Artevo Consulting, demonstrated how art transforms destinations into living cultural experiences, rather than decoration. With landmark projects across the region including The Red Sea, Diriyah Gate, Rosewood, and the Qatar National Museum, Artevo highlighted the power of storytelling and experiential installations in shaping distinctive luxury developments.
Biotech innovation powering the cities of tomorrow
Nicolás Otero, Business Development Manager - BIOO introduced breakthrough biotechnology capable of transforming green spaces into producers of electricity, water savings, cooling, and interactive experiences, through systems such as biopanels, bioswitch installations, and bioluminescent landscapes.
With implementation readiness and ROI within 5 - 7 years, these innovations position Saudi Arabia at the forefront of biotech-powered cities.
Redefining luxury through legacy and exclusivity
Tetyana Kovalenko, Founder & Chairwoman - Elite Stone Srl. also contributed to this theme by exploring the pillars of luxury: Legacy, Worldwide recognition & branding, Uncompromising quality, Limited availability & exclusivity and High economic value with reference to her 2000 year-old quarry in Italy that incorporates all the true elements of luxury in their products.
Carbon markets driving Saudi Arabia’s net-zero momentum
Miklós Veszprémi, Senior Strategic Partnerships Manager – VCM further elaborated on growing role of carbon credits and the Voluntary Carbon Market (VCM) in Saudi Arabia. Established in 2021 with Public Investment Fund support, the Kingdom’s carbon exchange has rapidly become one of the world’s largest, enabling corporations to accelerate net-zero commitments.
The session framed sustainable real estate not only as an environmental obligation, but a regulatory requirement, financial opportunity, and national expectation, supporting Vision 2030 ambitions.
From smart to human-centric
Ron Bakker, Co-Founder - PLP Architecture presented a shift from purely sustainable and smart buildings toward human-centred architecture, using research-based design and biophilia to create spaces that inspire connection. Their global mixed-use projects in Rotterdam, Tokyo, London, and Riyadh illustrated how public realm quality, mobility, and integrated lifestyles drive city vitality.
Redefining luxury through storytelling and sensory design
The panel: ‘Art of Enhancing Experiences’ focused on the evolving meaning of experience in luxury hospitality, noting that today’s travellers seek emotion, memory, and authenticity beyond physical luxury. Lead by Siddharth Peters, Co-Founder - Love That Design panellists:
- Kristina Zanic, Founder & CEO - Kristina Zanic Consultants
- Mira Alassaad, Deputy Head of Technical & Head of Interior Design - Dar Global
- Dharmali Kusumadi, SVP - Design & Business Development - Banyan Tree Hotels & Resorts Pte Ltd
- Rachel Johnson, Managing Principal - Wimberly Interiors
- Dalia Muhndis, Executive Director - Interior Designer at Diriyah Company
Discussed the importance of storytelling, cultural heritage, and sensory connection, emphasising wellness, community, and indoor-outdoor living as fundamental design priorities.
Innovation shaping the real estate projects of tomorrow
The Panel, “Innovation Defining the Real Estate Projects of Tomorrow,” explored technology’s role in reshaping development. Moderated by John Fekete, General Manager - CBRE Saudi Arabia, speakers,
- Eng. Faisal bin Abdulrahman Alnasser, CEO - Al-Andalus Properties
- Mohammed Habis, CEO - Al Gharbia Development & Investment Company
- Arch. Mohammed K. Alduraibi, Managing Director - Oud Real Estate Company
- Akram Omar, Chief Development Officer - AWJ Holding Company
Highlighted AI integration, digital transformation across construction and operations, and new financing frameworks enabling powerful public-private partnerships. They emphasised merging technology with cultural identity to create unforgettable destinations.
Investment & returns outlook
Matthew Green, Head of Research - CBRE MENA, provided a detailed overview of the real estate landscape for 2025, noting Saudi Arabia’s continued economic momentum driven by regulatory reform, infrastructure expansion, and global events including Riyadh Expo 2030 and the 2034 FIFA World Cup. Real estate now accounts for around 12% of national GDP, supported by institutional foreign investment and high occupancies, office markets in Riyadh are operating at 98% capacity with 15% annual rent growth.
Residential development is accelerating, with 200,000 units planned by 2030, while major retail destinations highlight rising demographic demand. The sector’s growth is reinforced by tools such as white land tax, private credit, and increased sovereign fund participation.
Partnership announcements & signing ceremonies
The summit hosted multiple signing ceremonies celebrating major new developments such as:
26H Jeddah – A landmark mixed-use project with a collaboration between Alworoud Real Estate Investment and LDP Partners featuring a 270-key Hilton Tempo Hotel (first Hilton Tempo Hotel outside USA), 180 residential rental units, and 7,000 m² of retail space.
The partnership was signed by:
- Abdullah Mohammad Kamel, CEO - Alworoud Real Estate Investment Company
- Dr. Mostafa Mwafy, Co-Founder - Ldp+Partners Company
- Nader Fouda, Co-Founder - Ldp+Partners Company
An iconic luxurious hotel and residential tower spanning more than 20,000 square meters, prominently positioned on Al Kurnaysh Road in the Ash Shati district, overlooking the serene waters of Jeddah’s coastline.
This partnership was signed by and between:
- Yazeed Bin Rawaf - Associate Director - AlJazira Capital
- Ahmed Said Al-Angari – Land Owner
- Arch. Mohammad Alderaibi, Managing Director Oud Real Estate Company
Both announcements received enthusiastic applause, underscoring ongoing investor confidence.
Connecting manufacturers & distributors for market growth
The Distributor-Manufacturer Meet, brought together leading manufacturers and distributors shaping Saudi Arabia’s rapidly expanding real estate supply ecosystem.
This exclusive networking session was designed to facilitate meaningful introductions, product discovery, and partnership opportunities between companies offering unique, high-value solutions for the Kingdom’s development landscape.
Focused, purposeful, and business-driven, the meet enabled stakeholders to explore distribution channels, align on market needs, and build collaborations that support Saudi Arabia’s fast-growing real estate and construction sectors.
Saudi Arabia’s investment potential beyond 2030
The Panel ‘Unveiling Saudi's Investment Potential: Vision beyond 2030’ highlighted Saudi Arabia’s real estate boom, fuelled by foreign capital, infrastructure growth, and rising demand across sectors. Moderated by Charles Habak, Senior Partner Dubai - McKinsey & Company, panellists:
- Walid Almurshed, CEO - Quara Holding
- Khalid Hassan Al Gahtani, Chairman - Haka Group
- Waleed Al Rashdan, CEO - Arbah Capital
- Mohamed El Samman, Group CEO - Rajhi Investment Co
Noted a shift from speculative to value-driven development, with opportunities beyond major cities, positioning the Kingdom as a top destination for long-term investment.
Hospitality & tourism insights
Harmen De Jong, Regional Partner - Head of Consulting, Knight Frank, presented data-driven insights into hospitality and travel demand, revealing tourism spending has exceeded pre-COVID levels and now accounts for 6.1% of GDP, targeted to reach 10% by 2030. Visitor numbers have already surpassed original Vision 2030 targets, hitting over 100 million in 2023 and now aiming for 150 million.
Meanwhile, hotel capacity is set to nearly triple from 170,000 to 358,000 keys. Key opportunities include mid-scale hospitality, secondary-city development, and branded residences in the holy cities, with 45% of high-net-worth investors willing to pay USD 10,000/m² for premium units in Mecca and Medina.
The growing appeal of branded residences in Egypt
The session “Investment in Branded Residences in Egypt” featured insights from:
- Mohamed Salah Mohamed Abdelhakim, CEO - A Capital Holding
- Dalia El Kordy, CCO – A Capital Holding
The discussion explored the rising demand for branded residential developments in Egypt, driven by investor confidence, premium living standards, and strong market fundamentals. The speakers highlighted how branded residences are reshaping buyer expectations, elevating lifestyle value, and creating long-term investment resilience across key Egyptian cities.
Building for long-term value
The ‘Built for Returns’ panel explored Saudi Arabia’s real estate transformation under Vision 2030, highlighting a shift from short-term returns to mixed-use, sustainable developments backed by institutional capital and diversified financing. Panellists:
- Ibrahim Alalwan, Managing Director - Watheeq Capital
- Anas AlDowayan, CEO - Aldowayan Holding Company
- Abdullah Kamel, CEO - Al Woroud Real Estate Investment Company
- Mohammad Arab, Group Chief Executive Officer - Arab Group
Lead by Susan Amawi, General Manager - KSA - Knight Frank, emphasised strong demand across sectors, the impact of giga-projects in boosting national confidence and tourism, and the growing importance of ESG, placemaking, and community value in delivering long-term, multi-dimensional returns.
GBB future minds program
This edition introduced the GBB Future Minds Program, a dedicated initiative that brought 30 students from Effat University into dialogue with global architects and designers. Delivered in collaboration with LWK + Partners, PLP Architecture, and Alien Architecture, the program created a meaningful platform for learning, mentorship, and next-generation talent development.
Through sessions led by
- Kerem Cengiz Managing Director, LWK + Partners (MENA) on resilient cities,
- Ron Bakker Founding Partner, PLP Architecture (UK), on human-centric design, and
- Alaa Qathani, Founder and Design Director, Alien Architecture (KSA) on Saudi identity and cultural storytelling, students explored the future of the built environment through sustainability, ethics, and innovation.
The program concluded with a hands-on workshop and town hall, where students presented ideas and engaged in an open dialogue on how young architects can shape Saudi Arabia’s evolving urban future.
RICA - Saudi Arabia’s premier real estate choice awards
The REDS Industry Choice Awards (RICA 2025) celebrated the organisations and professionals driving transformation across Saudi Arabia’s real estate, architecture, and design sectors. With 59 nominees across 15 categories, the awards recognised leadership, innovation, and excellence aligned with the Kingdom’s Vision 2030 development goals.
Winners Included:
- Celebrated Residential Developer of the Year – Roshn Group
- Celebrated Mixed-Use Developer of the Year – Rua Al Madinah Holding Company
- Celebrated Hospitality Developer of the Year – Red Sea Global
- Celebrated Architecture Firm of the Year – Foster + Partners
- Celebrated Interior Design Firm of the Year – International Design Associates, Bahrain
- Celebrated PMC of the Year – JLL
- Celebrated Investor of the Year – Alramz Real Estate Company
- Celebrated Urban Project of the Year – Sports Boulevard Foundation
- Celebrated Innovative Project of the Year – Jeddah Front
- Celebrated Non-Urban Project of the Year – Desert Rock
- Celebrated CEO of the Year – Men – Eng. Ahmed A. Alsulaim, CEO, Jeddah Central Development
- Celebrated CEO of the Year – Women – Dina Alawadh, CEO, OWN Real Estate Company
- Emerging Interior Designer of the Year – Jannat Abdulla Husain, Interior Designer, International Design Associates
- Emerging Architect of the Year – Lama Al-Kharboush, Senior Associate and KSA Country Manager, Aedas
- Honorary RICA – Lifetime Achievement Award – Dr. Zuhair Hamed Fayez, Chairman, Zuhair Fayez Partnership
Closing perspective
Across discussions, a clear theme emerged: Saudi Arabia is one of the world’s most dynamic real estate markets, driven by Vision 2030 ambition, institutional capital, innovation, and global confidence. Leaders emphasised that future success requires balancing financial returns with sustainability, community value and cultural authenticity, creating developments built to last, not just built to sell.
In this spirit, GBB took a defining step forward by introducing a Net-Zero pathway for the summit in partnership with VCM, measuring emissions, facilitating verified offsets, and championing a responsible model for industry-led climate action. By aligning innovation with accountability, GBB continues to elevate the ecosystem and set a new benchmark for how platforms can shape the future of development in the Kingdom.
