RIYADH, SAUDI ARABIA, November 13, 2024 /
EINPresswire.com/ -- Day two of Cityscape Global witnessed major international institutional investors, with over $3.2 trillion AUM in real estate assets, attend the Investor Forum, which welcomed participants from over 22 countries. Attendees joined roundtables, keynotes, panels and one to one matchmaking meetings which hosted household names such as BlackRock, AGV Invest, Brookfield, CVC Capital Partners, Apollo and Mapletree.
Roundtables over the last two days saw lively discussions on the future of mixed-use real estate investments, strengthening partnerships between family offices and real estate developers, insights into retail and hospitality investments, key ESG principals for investors and balancing portfolios with alternative assets.
Hossam, Y Radwan, the CEO of the Saudi Real Estate Mortgage Guarantee Company (Damanat), also shared an update on the Saudi mortgage market and opportunities. He explained his company had been successful in refinancing mortgage portfolios exceeding 37 billion riyals by providing finance solutions for investors and developers.
Running under the theme ‘The Future of Living’, Cityscape Global’s second day at the Riyadh Exhibition & Convention Centre in Malham saw the announcement of another US$3.36 billion (SAR 12.62bn) worth of projects and strategic agreements in the Kingdom. The Ministry of Municipalities and Housing (MOMAH), Developmental Housing, and SAKAN, revealed an investment of US$1.28bn to provide ownership of 16,000 housing units across the Kingdom next year.
Meanwhile, more than US$2.08bn will be invested by the Saudi Investment Recycling Company and Dhahran Municipality to cover numerous upcoming projects in the eastern region.
On the main stage, a ministerial session, featuring H.E. Amina bint AhKailAl-Rumaihi, Minister of Housing and Urban Planning in the Kingdom of Bahrain, and H.E. Eng. Sherif El Sherbiny, Minister of Housing, Arab Republic of Egypt, delved into the future of urban planning.
Building on day one’s momentum
In addition to today’s investment announcements, Cityscape Global also saw a plethora of deal and investment activity on day one. NHC announced $37,272,851,000+ worth of new partnerships with 5+ companies, launching a new identity and strategy. In addition, Diriyah Company also announced yesterday the launch of its Signature Collection of The Ritz-Carlton Residences, Diriyah, marking the latest release of its luxury branded residences. Diriyah Company also launched the first luxury residential group, “Raffles Residences Diriyah”, affiliated with Raffles Hotels and Resorts. The new “Raffles Residences Diriyah” will feature 90 luxury residences while offering access to world-class facilities at the upcoming Raffles Diriyah hotel.
Furthermore, RETAL announced the delivery of 4498 residential, mixed use, and commercial units in partnership with regional developers and investors, with a value in excess of $3,727,380,000+. KADEN announced $1,466,666,000 + for “CITY WITHIN CITY”. Mohammed Al Habib unveiled Enar, a mixed-use mega project spanning 250,000sqm with a value in excess of $1,331,207,000+.
In addition, TILAL revealed the launch of Heart of Khobar, a 268,813 sqm mixed use development, valued at $1,600,000,000. Flow also disclosed the company’s first local real estate fund worth $293,300,000, with Sico and Safa as partners, to own 920 units. Mountain View announced it has officially expanded its operations into Saudi Arabia by launching its first project, “One Mountain View”, an investment to build 500 upscale villas in partnership with leading Saudi developers, with an investment value of $320,000,000.
Elevating Global Sports
In addition, Cityscape Global took a deep dive into the different perspectives around professional sports and their fan experiences as day two of the largest real estate event in the world capitalised on its future-focused theme by welcoming a plethora of sports industry leaders and world renowned athletes to the new Stadiums & Mega Events Stage.
Crowds gathered for huge figures of a different nature as FIFA World Cup champions, UEFA Champions League winners, and other global football stars shared insights and opinions on the future of sport. Ivory Coast superstar Didier Drogba, Former Brazil captain Gilberto Silva, and other legendary footballers such as Sol Campbell, Louis Saha, Jens Lehmann, and Emile Heskey, shared the stage to discuss everything from their investments in real estate to the prospect of a FIFA World Cup in the Kingdom. The former players brought a little added glitz to an event already filled with luxurious real estate projects and innovation.
Former England and Liverpool forward Heskey gave his support to Saudi Arabia’s 2034 bid to host the FIFA World Cup as a vehicle to promote healthy, active lifestyles. He said: “It would be huge. Watching the FIFA World Cup on TV is one thing, but to have it in the Kingdom really would inspire the next generation to want to be playing. There would be nothing like being in a stadium here watching it, within touching distance of some of the world’s best players. Fans travel wherever, but if it’s on your doorstep, then it is a blessing – a chance to experience something that some people will never get to experience.”
Helmut Spahn, Director of Safety, Security & Access at FIFA, later presented his vision for the future of stadiums, projecting that artificial intelligence will make for a smoother matchday experience whereby baggage checks will be a thing of the past, food and drink orders can be delivered direct to visitors’ seats, and stadiums will be designed to be more inclusive.
“Technology is evolving incredibly fast, so we don't know what will be available in the market in two or three years or what will be available in 2034 when we host the World Cup – probably – here in the Kingdom of Saudi Arabia,” said Spahn. “The biggest change for organizing World Cups and other major events in the future is AI-powered stadium security. Whether you like it or not, it’s the future: Real time threat detection; AI cameras identifying potential risks so you can react as early as possible; protective analyzers to anticipate behavior and crowd management; and facial recognition.”
Vision 2030 Driving Increased Access to Saudi Sports Facilities
Promoting sport within the Saudi population was the theme of a keynote speech by Adwa AlArifi, Assistant Minister for Sporting Affairs, Ministry of Sport, Kingdom of Saudi Arabia. She told delegates how the country’s Vision 2030 has positioned sport, access to facilities, and infrastructure as integral to modern day life in the Kingdom. AlArifi pointed out that before Vision 2030, there were limited sports federations, yet now Saudi Arabia boasts more than 100 such associations. She added that a strategic focus on increased creation of facilities and infrastructure will help provide access to sport for every person in the Kingdom.
Cityscape Global 2024 is sponsored by the Ministry of Municipalities and Housing (MOMAH) in partnership with Real Estate General Authority (REGA), Vision 2030, Housing Program, and organized by Tahaluf. Cityscape Global 2024 supporting Foundation Partners include National Housing Company (NHC), NEOM, ROSHN, New Murabba, King Abdullah Financial District (KAFD), Diriyah Company and Destination Partner, MASAR.
To learn more and register for the event, visit
www.cityscapeglobal.com
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About Cityscape Global
First held in 2002, Cityscape Global is organized by Tahaluf, a strategic alliance between Informa PLC, the Saudi Arabian Federation for Cyber Security and Programming (SAFCSP) and the Events Investment Fund (EIF).
Amid vast ongoing urban development across the Kingdom, the launch of Cityscape Global in Saudi Arabia will provide architects, urban planning specialists, consultants, and representatives of investment agencies, economic agencies, and cities with abundant opportunities to discuss the most recent advancements in the MENA and global real estate industry.
Cityscape Global will also provide local, regional, and international businesses with a high-profile platform to showcase their projects and services to visitors from all over the world, while also forging new multinational collaborations. To learn more, please visit our website.
Nour Ibrahim
MCS Action FZ LLC
+971 544250187
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