The 19th Real Estate Development Summit Saudi Arabia – Luxury Edition has successfully wrapped up, drawing more than 800 influential leaders, investors, and decision-makers. Over the course of two days, participants engaged in high-level discussions focused on the future trajectory of Saudi Arabia's evolving built environment.
The event, themed "Together Towards Tomorrow," highlighted Saudi Arabia's rapid transformation. Its real estate and construction pipeline now exceeds $2 trillion, setting new global benchmarks in development, hospitality, and innovation.
Ravi Kumar Chandran, Founder and Managing Director of GBB Venture, opened the summit by introducing a dedicated investment track featuring over 200 international investment leaders. He also announced a strategic partnership with VCM aimed at achieving net-zero emissions through carbon measurement, reduction, and offsetting, emphasizing Saudi Arabia's commitment to sustainability.
In a fireside conversation led by Lama Alhamawi from Arab News, Eng. Essam Ahmad Kalthoum, CEO of Asmou Development Company, shared insights from his 40 years of development experience. He emphasized the demand for smart, amenity-rich housing amid rapid growth, and discussed major mixed-use projects in the Kingdom as well as regional expansion efforts in Cairo, Muscat, and Amman. Kalthoum highlighted governance and ESG practices as critical components for sustainable success.
Commercial Director Jalal Al Kurdi of HH Shaker announced a new joint venture with Midea, marked by the establishment of the Midea Shaker Company (MSA). The project will start with a 20,000 sqm facility capable of producing 650,000 AC units annually, expanding to 85,000 sqm to include components like compressors and robotics. The facility aims to support giga-projects like NEOM and Qiddiya, fostering job growth and raising installation standards.
Osan Ghaddaf, Founder and Creative Director of Artevo Consulting, highlighted the transformative power of art in creating cultural experiences. Notable projects such as The Red Sea and Diriyah Gate were showcased, emphasizing storytelling and experiential installations in luxury developments.
Nicolás Otero from BIOO introduced groundbreaking biotechnology capable of turning green spaces into energy producers. Using systems like biopanels and bioluminescent landscapes, these innovations promise ROI within 5-7 years, positioning Saudi Arabia at the forefront of biotech-enhanced cities.
Miklós Veszprémi of VCM elaborated on Saudi Arabia's carbon credit market, established in 2021, which has quickly become one of the largest globally. This infrastructure supports the Kingdom's net-zero ambitions as part of its Vision 2030 targets.
The summit witnessed multiple signing ceremonies for upcoming projects, such as the 26H Jeddah mixed-use development. Collaborative efforts between companies are set to enhance Saudi Arabia's real estate landscape, driving forward its rapid market growth.
Matthew Green from CBRE MENA provided a comprehensive overview of the real estate market heading towards 2025. Economic momentum driven by regulatory reforms and major events like the Riyadh Expo 2030 are expected to continue, with real estate now contributing about 12% of the national GDP.
The REDS Industry Choice Awards (RICA 2025) recognized organizations and professionals excelling in Saudi Arabia's real estate sector, in alignment with Vision 2030 goals. Categories ranged from celebrated developers to architecture and interior design firms.
Across the discussions at the summit, a clear message emerged: Saudi Arabia is an increasingly dynamic real estate market, propelled by Vision 2030 and global investor confidence. The focus on balancing financial returns with sustainability and cultural authenticity was emphasized, with innovative leadership paving the way for lasting development.
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, emphasizing governance, ESG, and public listing as critical for credibility and long-term success.
Localization & 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 localization. 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, emphasizing 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 emphasized 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, fueled 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, emphasized 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 organizations and professionals driving transformation across Saudi Arabia’s real estate, architecture, and design sectors. With 59 nominees across 15 categories, the awards recognized 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 emphasized 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.
