CAS Interview with Dr. Bader Al-Saedan on Real Estate in Saudi Vision 2030
Saudi Arabia is a country of traditions, rich culture and history – home to the holiest sites of the Islamic world. To maintain its economic growth and development, a council chaired by Crown Prince Mohammad Bin Salman has delivered a number of strategies (known as Saudi Vision 2030), of which some of the most prominent pertain to real estate and architecture.
As Dr. Bader Ibrahim bin Saedan – the Managing Director of Al-Saedan Real Estate astutely puts it, “…it focuses on the needs of the Saudi people…”
The venture is an ambitious one, with its sole purpose set to benefit the Saudi nation as a whole. The goal is to establish a vibrant society while having a thriving economy to back it. “The Vision is a vision,” Dr. Bader continues, “it is a dream that is achievable, measurable, and can be applied.”
As a whole, Saudi Vision 2030 is all about increasing productivity and investment opportunities in Saudi Arabia. Investment opportunities begin with thriving civil works, infrastructure, and the real estate market, exactly where this new strategy is headed. Bearing in mind the land, location, and construction, this plan has been strategized to make the Saudi real estate market a hub of investment opportunities for people all around the globe.
According to Dr. Bader, Saudi Vision 2030’s implementation will see a lot of work carried out by infrastructure and construction companies. There will be a lot of urban-scale development, so designers and architects will also have their work cut out.
There was initially a workshop held between the old Saudi government, the new officials, experts from all over Saudi – and even the world. There is a massive need for residential and entertainment projects by the locals; especially the younger generation that is outcropping the older ones. There’s also a need to fulfil the potential of all the stunning geographical features that the country has to offer – long beaches, mountains, historical places, etc. – in order to attract a wide range of tourists (even inter-traveling between cities).
“That is why we have new projects that focus on entertainment to get the locals and the international visitors to visit those places and explore Saudi Arabia,” Dr. Bader explains.
While residential and entertainment facilities are the main categories of Saudi Vision 2030, other sectors that can support these are also a part of the Vision.
Dr. Bader says that at this point Saudi Arabia is stuck in the stereotype of ‘oil and desert,’ which is why the main idea of these strategies is to realize the potential of each and every region based on its geographical diversity; sky diving from the mountains, snorkeling in the seas, etc. The urge to make people explore the diverse and natural beauty of the country is definitely part of the agenda.
Saudi Vision 2030 takes leave from the preceding detachment of the country from foreigners. Before, it used to be open mostly to Muslims for Hajj and Umrah, but the Vision ensures that Saudi Arabia is now open for foreign investors as well as visitors. Tourism and entertainment are the main attraction, but there will also be a focus on health and education, too.
Al-Saedan Real Estate is going to be focusing on these opportunities. They’ve already started scouting places where the government is focusing for their projects.
As the Saudi culture as a whole is very restrained, and the population is mostly comprised of middle-class families, the need for detached villas with more space is something that might have been a set-back. But with the gradual exposure of the population to the western real estate market, people are slowly warming up to the idea of smaller houses, attached units, and sometimes even apartments for the young people who are just starting out in their careers.
As Dr. Bader advises, CAS in Saudi Arabia is a positive asset for the local market. CAS architects keep the cultural needs and requirements of the Saudi people in mind while being cognizant of the regulations of the country.