This page was produced by The National in partnership or collaboration with NHC of Saudi Arabia.
Saudi Arabia is witnessing a housing boom that is transforming the country’s real estate sector, as home ownership rises and international investors join one of the world’s most dynamic markets.
Leading this transformation, developer NHC is meeting demand for lifestyle communities with mega-projects that anticipate future growth.
The kingdom’s real estate market is on a path to reach unprecedented heights, with a forecasted market value of $2.27 trillion by the end of the year and a goal to develop 1.2 billion square metres of land by 2030. Saudi home ownership is also set to increase to 70 per cent, attracting major players like Egypt’s TMG conglomerate, along with Spanish and Chinese investors partnering with NHC.
In a special Business Extra episode from Cityscape Global 2024 in Riyadh, we explore the evolution of Saudi Arabia’s property sector. The event, themed “The Future of Living”, features more than 400 exhibitors and more than 100 institutional investors, covering diverse developments from stadiums to hotels, signalling the nation’s expanding real estate market.
During the event, NHC announced 75 billion Saudi riyals ($19.96 billion) in investment opportunities available until the end of next year, aimed at both local and international investors.
Mohammed Abaalkhail, NHC’s chief marketing and customer experience officer, joins host David Dunn to discuss how NHC is bringing its vision of “elevating life” to fruition with mixed-use communities and green spaces.
With a plan to develop 284 million square metres of land across the kingdom, NHC, one of the largest developers in the region, is also adapting to meet shifting demands while maintaining its strong market position.
Ticket prices
- Golden circle - Dh995
- Floor Standing - Dh495
- Lower Bowl Platinum - Dh95
- Lower Bowl premium - Dh795
- Lower Bowl Plus - Dh695
- Lower Bowl Standard- Dh595
- Upper Bowl Premium - Dh395
- Upper Bowl standard - Dh295
Killing of Qassem Suleimani
Farasan Boat: 128km Away from Anchorage
Director: Mowaffaq Alobaid
Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani
Rating: 4/5
Champion%20v%20Champion%20(PFL%20v%20Bellator)
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COMPANY%20PROFILE
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Tips for used car buyers
- Choose cars with GCC specifications
- Get a service history for cars less than five years old
- Don’t go cheap on the inspection
- Check for oil leaks
- Do a Google search on the standard problems for your car model
- Do your due diligence. Get a transfer of ownership done at an official RTA centre
- Check the vehicle’s condition. You don’t want to buy a car that’s a good deal but ends up costing you Dh10,000 in repairs every month
- Validate warranty and service contracts with the relevant agency and and make sure they are valid when ownership is transferred
- If you are planning to sell the car soon, buy one with a good resale value. The two most popular cars in the UAE are black or white in colour and other colours are harder to sell
Tarek Kabrit, chief executive of Seez, and Imad Hammad, chief executive and co-founder of CarSwitch.com
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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The specs: 2018 Chevrolet Trailblazer
Price, base / as tested Dh99,000 / Dh132,000
Engine 3.6L V6
Transmission: Six-speed automatic
Power 275hp @ 6,000rpm
Torque 350Nm @ 3,700rpm
Fuel economy combined 12.2L / 100km
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
The specs: 2018 Nissan Patrol Nismo
Price: base / as tested: Dh382,000
Engine: 5.6-litre V8
Gearbox: Seven-speed automatic
Power: 428hp @ 5,800rpm
Torque: 560Nm @ 3,600rpm
Fuel economy, combined: 12.7L / 100km
Company%20Profile
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