The TWENTY30’s Saudi real estate guru, Faisal Durrani, partner and head of research at Knight Frank Middle East, is back! Faisal joins hosts Lucien and Hanaa to discuss some of the latest research and findings from Knight Frank, the leading consultancy on real estate in the Middle East region, and to give listeners an update on the booming real estate market in Saudi Arabia. There’s been a 38% surge in real estate transactions across all asset classes in the country, and the conversation covers the complex factors driving the housing market, including government initiatives under Vision 2030, the rise in home ownership rates, and the challenges faced due to an increasing number of young Saudis and expats moving to Riyadh. Faisal also provides an update on the hospitality sector in Saudi Arabia as tourism booms, noting the rising hotel room rates and the demand for more diverse accommodations is driving the discussion on the ground. The conversation also delves into the complexities of meeting the housing demand in the face of rapid urbanization and changing cultural expectations among Riyadh's residents.
After the conversation with Faisal, the hosts catch up on some of the latest news in Saudi Arabia.