The Australian Saudi Business Council and Forum (ASBC/F) continues to strengthen its engagement with key Saudi government stakeholders, collaborating closely with the Ministry of Municipalities and Housing as Saudi Arabia’s real estate sector accelerates into its next phase of growth.
Saudi Arabia is currently delivering one of the world’s most ambitious development pipelines, with more than USD 1 trillion in real estate and infrastructure projects either planned or underway. Housing alone is expected to exceed USD 300 billion in value by 2030, reflecting the scale of investment supporting the Kingdom’s long-term economic transformation.
Reforms introduced over the past decade are already reshaping the housing landscape. National home ownership has risen from approximately 47 per cent in 2016 to over 63 per cent today, with a clear target of 70 per cent by 2030. Rapid population growth, continued urbanisation and giga developments across Riyadh and other major cities are driving sustained demand across residential, mixed-use and master-planned communities.
During meetings with His Excellency, the Deputy Minister of Real Estate Development, discussions reinforced Saudi Arabia’s strong appetite for high-quality international developers. There is a clear focus on attracting partners who can contribute expertise, innovation and delivery capability to support outcomes aligned with Saudi Vision 2030, particularly across large-scale urban development and long-term community planning.
ASBF remains committed to facilitating meaningful dialogue between Australian industry and Saudi decision-makers, helping Australian businesses better understand the market, engage with priority sectors and identify practical pathways for participation.
The engagement was led by Joel Fitzgibbon, with participation from Michael Sukkar, reflecting continued bilateral interest in expanding cooperation across real estate, infrastructure and urban development.
