The inaugural Cityscape Global Exhibition in Saudi Arabia revealed $17.3 billion in construction and infrastructure projects. This included an initiative by ROSHN, the national housing company, to undertake projects worth $11.2 billion in the “suburbs and communities”, as well as a business hub and a sports city in the Khuzam suburb of Riyadh.
Among the specific partnerships cited was a $2 billion agreement with China Harbour to develop 6,700 residences in Riyadh, in addition to the supporting social and commercial infrastructure. It is estimated that this will take 45 months to complete. Furthermore, ROSHN signed a $155 million agreement with Saudi engineer PC Marine Services to build canals and bridges in the developer’s recently announced Marafy project in Jeddah.
Projects included Makkiyoon Urban Developers’ $1.6 billion Boulevard Makkah
Other projects included Makkiyoon Urban Developers’ $1.6 billion Boulevard Makkah, which incorporates one million square meters of retail, apartments, offices, and hotels.
Meanwhile, Retal Urban Development launched a $1.3 billion project to create a luxury resort in Al-Khobar under the management of the Ritz Carlton, while the King Salman Park Fund announced a $1 billion plan to build 1,500 residential units in the Salmani architectural style, as well as offices, hotels, schools, and shops.
Masar Destination launched its own $1 billion project to construct 18 residential towers, four hotel buildings, and an office building in Makkah.
The King Salman Park Fund announced a $1 billion plan to build 1,500 residential units in the Salmani architectural style
With more than 350 developers from around the world, showcasing the latest properties and investment opportunities, Cityscape provided valuable insights into the real estate market, with leading players such as NEOM, ROSHN, Jeddah Central Development Co., Zain, and the Berkeley Group in attendance.
Serving as a vibrant platform where the latest trends, projects, and opportunities in the property market were showcased and discussed, Cityscape featured everything from luxurious high-rise condominiums to sprawling suburban developments and innovative sustainable housing projects, with attendees having the opportunity to explore a wide spectrum of real estate options. This diversity reflected the ever-evolving needs and preferences of property buyers in today’s dynamic Saudi marketplace.
Cityscape featured everything from luxurious high-rise condominiums to sprawling suburban developments and innovative sustainable housing projects
The exhibition also provided an invaluable networking opportunity for professionals in the industry. Developers connected with investors, architects collaborated with builders, and real estate agents built relationships with potential clients. The exchange of ideas, expertise, and business contacts often leads to new projects and ventures, which is why Cityscape is such an essential event for industry stakeholders.
In addition to showcasing current projects, the exhibition often includes seminars, panel discussions, and workshops that delve into the latest trends and issues in the real estate market. These sessions feature industry experts who provide insights into topics such as sustainability, urban planning, technology integration, and investment strategies. This year these included a keynote speech, The Future of Urban Development: The Impact of Cryptocurrency on Cities; a panel discussion, From Blueprint to Reality: The Crucial Role of Financing and Investment in Residential Real Estate; and an interactive panel discussion, The Future of Architecture: Innovations and Trends to Watch Out For.
In conclusion, the Cityscape Global Exhibition was more than just a real estate event; it was a melting pot of ideas, innovation, and investment opportunities.