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RIYADH: Jeddah’s real estate pipeline is surging with 310,000 sq. meters of retail space rolled out this year, together with 1,000 new branded residential units and over 30,000 more hotel keys by 2030, according to JLL.

Speaking at its annual roundtable in Jeddah, the global real estate firm said the city’s expanding pipeline — spanning residential, hospitality, and mixed-use projects — underscores its growing role in ����ֱ��’s Vision 2030 agenda.

JLL said the development pipeline reflects broader national progress, particularly in Riyadh, which accounts for over $1.2 trillion in total project value, with contract awards projected to reach about $569 billion by the end of 2025, citing MEED Projects data. 

Saud Al-Sulaimani, country lead and head of Capital Markets at JLL ����ֱ��, said: “Jeddah is pivotal to ����ֱ��’s Vision 2030, offering significant investor opportunities.”  

He added that national priorities are pivoting, aligning projects with objectives and fostering private sector collaboration, alongside evolving PIF delivery structures. 

“These strategic shifts and evolving market fundamentals are crucial for long-term market stabilization and will drive a focus on premium assets,” Al-Sulaimani said, adding that easing construction costs is fundamentally reshaping the market. 

The firm noted that branded residences — once tied mainly to hospitality — are increasingly co-developed with lifestyle, automotive, and fashion brands. The segment’s supply is expected to rise from 400 units to 1,400.

Faris Maqdah, director of Strategic Consulting at JLL, said: “Jeddah’s branded residential sector is experiencing notable development, with around 1,000 branded residential units planned for delivery by 2030.” 

He added: “Market interest in these developments continues to evolve, with success dependent on developers delivering the right product-price combination that balances quality and service standards with affordability considerations.” 

Retail expansion is also on the rise, with 310,000 sq. meters of new gross leasable area expected in 2025 — an increase of more than 10 percent from current stock. 

These developments are increasingly integrated into mixed-use projects that cater to evolving consumer preferences.  

“The retail landscape is also undergoing significant transformation, driven by consumer demand for convenience and integrated lifestyle offerings,” Maqdah added.  

“These developments present compelling opportunities for developers and investors to meet Jeddah’s evolving demographic preferences and activate new micro-clusters that enhance the end-user experience,” he added. 

Hospitality growth remains strong, with a 6 percent compound annual growth rate from 2020 to 2025.  

According to Sarah Gasim, senior vice president and head of hotels at JLL ����ֱ��, the upcoming FIFA World Cup 2034 — where ����ֱ�� is the confirmed host — is expected to further accelerate development.  

“Strategic preparations are already underway, with lessons drawn from the Qatar World Cup’s impact on regional infrastructure and hospitality sectors,” she noted. 

JLL also highlighted the city’s resilient office market, where tight supply of Grade A space continues to support rental growth and drive a “flight to quality.” 

RIYADH: The ninth Future Investment Initiative marks a “turning point” in global innovation focus with technology leaders set to make up over half of speakers at the event in the Saudi capital.

In an interview with CNBC, Richard Attias, chairman of the FII Institute’s executive committee, said this year’s conference represents a major shift as a range of sectors seek to get to grips with the impact of artificial intelligence.

Launched in 2017, the Future Investment Initiative — often referred to as “Davos in the Desert” — has become a key platform for ����ֱ�� to showcase its economic diversification strategy under Vision 2030.

This year’s event, running from Oct. 27 to 30, brings together global policymakers, investors, and corporate leaders to discuss trends shaping the world economy and explore partnerships across emerging industries. 

“FII9 is a turning point,” Attias told CNBC, adding: “This year, 52 percent of our speakers are coming from the tech industry. It is showing you the importance, of course, of AI, but not only AI, innovation in general, because all sectors in all industries are impacted by technology now.” 

Attias highlighted three defining factors for this year’s edition: the dominance of technology, the presence of more than 20 world leaders and 50 ministers representing 90 countries, and the event’s growing reputation as one of the most inclusive platforms for international collaboration.  

“This will be a fantastic platform for public private partnership,” Attias added, emphasizing that such collaboration is “probably one of the solutions of all the major issues that the global economy is facing.” 

Attias called FII “probably the most inclusive platform in the world,” noting the presence of delegates from rival nations such as Russia and Ukraine, along with the US, China, and strong participation from the Global South and young entrepreneurs. 

“Riyadh is becoming the economic capital of the world, at least for the week,” Attias said, noting that FII has expanded from a three-day conference into a full week of events, with attendees arriving prior to the event and to capitalize on the opportunities within the Kingdom. 

The scale of activity, he admitted, is a “good problem to have,” but requires a “navigator” to manage the countless meetings and sectors on display.

He pointed to ����ֱ��’s Vision 2030, stating it is no longer a future plan but a reality “in motion,” encompassing sectors from sport and entertainment to food security, tourism, energy, and infrastructure. 

Attias stressed that FII has moved beyond symbolic memorandums of understanding. “Real deals are happening. Very concrete deals are signed,” he added in the interview. 

He linked this spirit of optimism and action to the institute’s resilience, recalling that FII was among the few major conferences held during the COVID-19 pandemic in 2020. This mindset, he said, reflects the FII Institute’s mission of creating an “impact on humanity.” 

This year’s event has attracted 9,000 delegates from nearly 100 countries, including participation from all Gulf Cooperation Council sovereign wealth funds. Attias said that by bringing together these funds with private equity firms, banks, financial institutions, and global CEOs, FII has created the “perfect equation” for driving global investment and collaboration.