UAE aims for $150bn of inward investment by 2030

The strategies, announced on Sunday, include a range of investment efforts. (File/Shutterstock))
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Updated 06 September 2021
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UAE aims for $150bn of inward investment by 2030

  • An investment of $1.36 billion in the Emirates Development Bank was also announced

The UAE has introduced a range of new measures aimed at boosting its economy as it looks to achieve $150 billion in investments over the next nine years.

The strategies, announced on Sunday, include a range of investment efforts, as well as the introduction of new visa policies that will make it easier for foreign workers to work and live in the UAE. 


Read more: UAE launches ‘green,’ freelance visas


Emirati Minister of Economy Abdulla bin Touq said the government planned to invest some $13.6 billion into the economy over the next year, aiming to boost development by 10 percent. 

“We are confident that these projects in the support of investment will make (the UAE) one of the most competent economies in the world,” he said at the press conference, also attended by other top UAE officials. 

An investment of $1.36 billion in the Emirates Development Bank was also announced. The ministers said it would be used to support the country’s industrial sector.

Other officials who spoke at the event include Minister of Cabinet Affairs Mohammad Al-Gergawi, Minister of Industry and Advanced Technology Dr Sultan Al-Jaber, Minister of State for Foreign Trade Thani Al-Zeyoudi, and Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications Omar Al-Olama.

The ministers highlighted the potential contribution of digital industries, as well as 4thindustrial revolution (4IR) technologies in achieving the country’s ambitious economic goals. 

Al-Olama revealed plans to attract more programmers to the UAE – aiming at around 64,000 to 100,000 in one year. 

This will help the country in solidifying its bid as the Silicon Valley of the region, the minister said. 

Last week, Dubai ruler Mohammed bin Rashid and Abu Dhabi Crown Prince Mohammed bin Zayed said the UAE would announce 50 economic projects in the coming weeks to mark 50 years since unification of the emirate.


Riyadh airport tops Saudi on-time performance rankings in April: GACA data 

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Riyadh airport tops Saudi on-time performance rankings in April: GACA data 

JEDDAH: Saudi Arabia’s King Khalid International Airport recorded the highest on-time departure rate among the Kingdom’s international airports in April, achieving 90 percent punctuality, official data showed.  

According to the monthly report published by the General Authority of Civil Aviation, the Riyadh-based hub outperformed larger airports such as Jeddah’s King Abdulaziz International, the Saudi Press Agency reported. 

The report comes as Saudi Arabia continues to push operational upgrades under its National Aviation Strategy, part of the broader Vision 2030 plan to position the Kingdom as a regional air transit hub. 

“The report issued in April 2025 indicated that King Khalid International Airport in Riyadh, King Fahd International Airport in Dammam, Abha International Airport, Neom International Airport, Turaif Airport, and Wadi Al-Dawasir Airport topped the advanced positions in the report,” the SPA report stated. 

The rankings are based on data compiled by Matarat Holding Co. and exclude canceled flights. Performance is measured by flights departing or arriving within 15 minutes of their scheduled times. 

In the category of international airports handling more than 15 million passengers annually, the Jeddah-based King Abdulaziz International Airport recorded a punctuality rate of 78 percent, according to the study.  

In the category of international airports handling more than 15 million passengers annually, the Jeddah-based King Abdulaziz International Airport recorded a punctuality rate of 78 percent. 

For international airports serving between 5 million and 15 million passengers annually, King Fahd International Airport in Dammam secured the highest ranking with an on-time performance of 87 percent. Prince Mohammad bin Abdulaziz International Airport in Madinah, which also falls under this category, recorded a 72 percent rate. 

In the segment of international airports accommodating between 2 million and 5 million passengers annually, Abha International Airport posted the highest punctuality rate at 91 percent. This was followed by King Abdullah bin Abdulaziz Airport in Jizan with 90 percent, and Tabuk Airport with 82 percent. 

NEOM Bay International Airport led among international airports with fewer than 2 million passengers annually, achieving a 95 percent on-time departure rate. Other strong performers in this category included Al-Ahsa International Airport at 93 percent and Najran Airport at 89 percent. 

Turaif and Wadi Al-Dawasir airports recorded perfect performance among domestic flight hubs, achieving 100 percent on-time departures. King Saud bin Abdulaziz Airport in Al-Baha followed closely with 99 percent, while Bisha Airport posted 94 percent. 

At the airline level, national flag carrier Saudia reported an 89 percent on-time rate for arrivals and departures. Meanwhile, flynas achieved 86 percent for arrivals and 91 percent for departures, while flyadeal recorded 87 percent and 91 percent, respectively. 

Regarding specific flight routes, the Riyadh–Abha domestic passage maintained a strong on-time departure rate of 96 percent. Other high-performing domestic routes included Riyadh–Tabuk and Riyadh–Dammam, both at 96 percent, while the Jizan–Riyadh route sustained its previous month’s rate of 95 percent. 

Internationally, the Riyadh–Amman route recorded the highest on-time performance at 97 percent, followed by Riyadh–Bahrain at 94 percent, Riyadh–Dubai at 93 percent, and Riyadh–Kuwait at 92 percent. The Jeddah–Amman route also achieved a 94 percent punctuality rate.


Kuwait authorizes Investment Authority to borrow abroad, central bank to borrow domestically

Updated 25 May 2025
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Kuwait authorizes Investment Authority to borrow abroad, central bank to borrow domestically

  • Law allows the government to issue financial instruments with maturities of up to 50 years

KUWAIT CITY: Kuwait’s minister of finance has authorized the country’s Investment Authority to carry out foreign borrowing operations and the Central Bank of Kuwait to conduct domestic borrowing operations on behalf of the ministry.

In March, Kuwait issued a decree law on public debt that outlined a framework for managing public borrowing, as the country prepares to return to global debt markets for the first time in eight years.

The law allows the government to issue financial instruments with maturities of up to 50 years and sets a ceiling for public debt at 30 billion Kuwaiti dinars ($97.9 billion), or its equivalent, in major convertible foreign currencies, said a statement on the official gazette.

Article 1 of the decision, signed by Finance Minister Noura Al-Fusam, authorizes the Central Bank of Kuwait, on behalf of the Ministry of Finance and “in coordination and consultation” with it, to carry out borrowing operations in Kuwaiti dinars or major convertible foreign currencies within the state “in accordance with recognized financial instruments and methods.”

Article 2 authorizes the Kuwait Investment Authority, on behalf of the Ministry of Finance and “in coordination and consultation” with it, to carry out borrowing operations in major convertible foreign currencies in global markets “in accordance with recognized financial instruments and methods.”

The last time Kuwait issued bonds was in 2017. 


Pakistan allocates 2,000MW to bitcoin mining, AI data centers in digital transformation push

Updated 2 min 15 sec ago
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Pakistan allocates 2,000MW to bitcoin mining, AI data centers in digital transformation push

  • Pakistan offers a strategic location in the world for data flow and digital infrastructure as a digital bridge between Asia, Europe, and the Middle East
  • The country is positioning itself as a sovereign economy that can accumulate digital assets, export digital services, and lead in technological transformation

KARACHI: The Pakistani government has allocated 2,000 megawatts (MW) of electricity in the first phase of a national initiative to power bitcoin mining and Artificial Intelligence (AI) data centers, the finance ministry announced on Sunday, in a push to transform Pakistan into a global leader in digital innovation.

The initiative is spearheaded by the Pakistan Crypto Council (PCC), a government-backed body under the Ministry of Finance, as part of a broader strategy to monetize surplus electricity, create high-tech jobs, attract billions of dollars in foreign direct investment.

Pakistan is uniquely positioned, both geographically and economically, to become a global hub for data centers, and offers the most strategic location in the world for data flow and digital infrastructure as a bridge between Asia, Europe, and the Middle East.

Pakistan’s combination of surplus power, geographic advantage, advanced subsea cable connectivity, renewable energy potential, and a large, digitally engaged population creates a compelling case for becoming a regional epicenter of Web3, AI, and digital innovation.

“This strategic allocation marks a pivotal moment in Pakistan’s digital transformation journey, unlocking economic potential by turning excess energy into innovation, investment, and international revenue,” Finance Minister Muhammad Aurangzeb was quoted as saying by his ministry.

Since the inception of the PCC, there has been tremendous interest from global bitcoin miners and data infrastructure companies, and several international firms have already visited Pakistan for exploratory discussions, according to the finance ministry. Following this landmark announcement, more global players are expected to visit in the coming weeks.

It said Pakistan’s underutilized power generation capacity is now being repurposed into a high-value digital asset.

“AI data centers and Bitcoin mining operations, known for their consistent and heavy energy usage, provide an ideal use case for this surplus,” the ministry said. ‘Redirecting idle energy, especially from plants operating below capacity, allows Pakistan to convert a long-standing financial liability into a sustainable, revenue-generating opportunity.”

PCC CEO Bilal bin Saqib emphasized the transformative nature of this initiative, saying Pakistan could become a global crypto and AI powerhouse with proper regulation, transparency, and international collaboration.
“This energy-backed digital transformation not only unlocks high-value investment but enables the government to generate foreign exchange in USD through bitcoin mining,” he said.

“Additionally, as regulations evolve, Pakistan can accumulate bitcoin directly into a national wallet, marking a monumental shift from selling power in Pakistani Rupees (PKR) to leveraging digital assets for economic stability.”

In April, Pakistan introduced its first-ever policy framework to regulate virtual assets and service providers, aligning with compliance and financial integrity guidelines of the global Financial Action Task Force (FATF). The move followed the establishment of the PCC in March to create a legal framework for cryptocurrency trading in a bid to lure international investment.

With the right incentives, strategic investments, and collaborative partnerships, Pakistan is positioning itself not only as a destination for global digital infrastructure but also as a sovereign economy that can accumulate digital assets, export digital services, and lead in the next generation of technological transformation.

“By offering stable and affordable energy, Pakistan presents a highly competitive environment compared to regional counterparts like India and Singapore, where rising power costs and land scarcity limit scalability,” the finance ministry said.

“Pakistan’s strategic advantage is further underscored by the global context: while AI data center demand has soared to over 100GW, global supply remains around 15GW. This massive shortfall creates an unprecedented opportunity for countries like Pakistan with surplus power, land, and an emerging regulatory framework.”

Pakistan’s digital connectivity has also been significantly strengthened by the landing of the world’s largest submarine Internet cable. The Africa-2 Cable Project, a 45,000-kilometer global network connecting 33 countries through 46 landing stations, has now landed in Pakistan. This milestone enhances Pakistan’s Internet bandwidth, latency, and resilience through redundant fiber routes — key for ensuring high availability and operational continuity for AI data centers.

With a population of over 250 million and more than 40 million crypto users, Pakistan holds immense potential as a regional leader in digital services, according to the finance ministry.

Establishing local AI data centers will not only address growing concerns around data sovereignty but will also enhance cybersecurity, improve digital service delivery, and empower national capabilities in AI and cloud infrastructure. These centers are expected to create thousands of direct and indirect jobs, catalyzing the development of a skilled workforce in engineering, IT, and data sciences.

“This announcement marks only the first phase of a broader, multi-stage digital infrastructure rollout. Future developments are expected to include renewable energy-powered facilities — leveraging Pakistan’s immense wind (50,000 MW potential in the Gharo-Keti Bandar corridor), solar, and hydropower resources — strategic international partnerships with leading blockchain and AI companies, and the establishment of fintech and innovation hubs,” the ministry said.

“These efforts will be complemented by proposed incentives such as tax holidays, customs duty exemptions on equipment, and reduced taxes for AI infrastructure developers.”


Riyadh positions itself as a global arbitration hub

Updated 24 May 2025
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Riyadh positions itself as a global arbitration hub

  • The Saudi Center for Commercial Arbitration, established in 2016, plays a pivotal role in this transformation

RIYADH: Saudi Arabia is rapidly positioning Riyadh as a global hub for arbitration, leveraging comprehensive legal reforms, technological advancements, and strategic initiatives aligned with its Vision 2030 economic diversification agenda.

The Kingdom’s concerted efforts to modernize its arbitration infrastructure have resulted in a notable increase in the enforcement of arbitral awards. 

Since the enactment of the Arbitration Law in 2012, Saudi enforcement courts have processed approximately 35,000 enforcement applications, with the total value of awards exceeding $6.16 billion. 

In 2023 alone, the value of locally enforced arbitral awards reached nearly $800 million, with rulings involving foreign stakeholders totaling around $400 million, as noted by Saudi Justice Minister Walid Al-Samaani at the Third Saudi Commercial Arbitration Conference, held last year.

Karim Youssef, founder and executive chairman of Youssef + Partners, emphasized the strategic nature of Riyadh’s emergence as an arbitration hub. Speaking to Arab News, he said: “Riyadh’s rise is closely tied to Saudi Vision 2030, which emphasizes legal reform, transparency, and modernization.” 

He added: “The government’s push for a more attractive business environment includes strengthening the rule of law and legal infrastructure, encouraging foreign direct investment, and creating confidence in dispute resolution systems for both local and international investors.”

The Saudi Center for Commercial Arbitration, established in 2016, plays a pivotal role in this transformation. “Saudi’s rise comes through a focused approach, involving strong judicial openness to arbitration and the regulator benchmarking its conduct against international minimum standards,” said Youssef.

He pointed out that the SCCA saw its caseload increase by a factor of 80 by 2021, a testament to the rapid development and effectiveness of the reforms.

The introduction of the 2023 SCCA Arbitration Rules further aligns Saudi Arabia’s arbitration framework with global best practices. These rules incorporate the use of technology to streamline proceedings, enhance speed, control costs, and facilitate more direct communication between parties and the arbitral tribunal. 

Notably, they allow parties to attend hearings remotely, particularly for preliminary and procedural hearings, and enable the engagement of foreign lawyers and counsels, reinforcing Saudi Arabia’s commitment to accommodating international legal practices.

Embracing digital tools

Speaking to Arab News, Beirut-based attorney Jihad Chidiac highlighted the significance of these reforms, stating that “notable changes include the 2023 rules of the Saudi Center for Commercial Arbitration, which introduce the use of technology to streamline proceedings, enhance speed, control costs, and facilitate more direct communication between parties and the arbitral tribunal.” 

He added that these rules allow arbitrations to be conducted in languages other than Arabic and permit the appointment of multinational arbitrators from any jurisdiction, crucial given Riyadh’s strategic position between Asia, Europe, and Africa. 

The Kingdom is positioning itself as a major arbitration hub, attracting global firms and experts seeking a modern, high-tech environment.

Jihad Chidiac, Beirut-based attorney

The Saudi government’s commitment to enhancing the arbitration infrastructure is further evidenced by the modernization of arbitration laws to align with international standards, such as the 2012 Arbitration Law based on the UN Commission on International Trade Law, or UNCITRAL Model Law. 

This comprehensive legal infrastructure, along with Alternative Dispute Resolution-friendly courts, makes Riyadh a credible and competitive venue for international dispute resolution, attracting global commercial and investment disputes.

Global partnerships 

Chidiac explained that “the establishment of the SCCA and the introduction of the 2023 SCCA Arbitration Rules further align with global best practices, drawing from renowned frameworks like the London Court of International Arbitration and the International Chamber of Commerce.” 

These reforms enhance Riyadh’s appeal as a trusted center for arbitration, fostering confidence among international businesses and institutions.

The Kingdom’s dedication to global dispute resolution is also demonstrated by its accession to international treaties like the New York Convention and the formation of strategic partnerships with major arbitration institutions.

In November 2022, the SCCA expanded its operations by opening its first office outside Saudi Arabia at the Dubai International Financial Center, operating under the name “SCCA Dubai” and providing arbitration and mediation services in the UAE, positioning Riyadh as a key player in global dispute resolution services.

Developing local expertise 

Looking ahead, continuous and systematic application of key initiatives is essential for Riyadh to solidify its position as a global arbitration hub. 

Youssef emphasized the importance of ongoing support from the Ministry of Justice and the government, continued integration and implementation of Vision 2030, and alignment with international legal norms. 

He added: “The SCCA is maturing into a competitive institution, with international standard rules and a growing caseload.”

Youssef suggested that this collective uniqueness can transform the region into a global hotspot for arbitration activity, enhancing its appeal and competitiveness on the international stage. 

FASTFACTS

Riyadh’s emergence as a leading arbitration hub represents a significant and transformative shift for legal professionals, businesses, and investors across the Middle East.

Since the enactment of the Arbitration Law in 2012, Saudi enforcement courts have processed approximately 35,000 enforcement applications, with the total value of awards exceeding $6.16 billion.

Chidiac pointed out that one of the major trends in international arbitration, which Saudi Arabia has already embraced, is the increasing use of digital tools like online dispute resolution platforms and AI-powered arbitration solutions. 

With initiatives like Saudi Vision 2030 driving tech-driven innovation, Chidiac added, “the Kingdom is positioning itself as a major arbitration hub, attracting global firms and experts seeking a modern, high-tech environment.” 

Riyadh’s emergence as a leading arbitration hub represents a significant and transformative shift for legal professionals, businesses, and investors across the Middle East. 

Youssef justified that with the establishment of the SCCA and the modernization of legislative infrastructure in line with international arbitration practices, Riyadh offers an efficient arbitral institution that incentivizes businesses and investors to select the city as the seat for their disputes. 

This, in turn, increases demand for legal practitioners skilled in handling cross-border disputes, creating high-value professional opportunities.

The growing volume of cases, particularly driven by ongoing reforms, reflects an expansion in legal services and professional development, fostering a more predictable and stable legal environment that is attractive to foreign investors.

Chidiac concluded by saying that Saudi Arabia’s hosting of major global events like the Future Investment Initiative and the Global Saudi Investment Forum boosts its international business profile, reinforcing its role as a key hub for arbitration, which ensures efficient and predictable resolution of business disputes.

As Saudi Arabia continues to implement its Vision 2030 objectives, Riyadh’s positioning as a global arbitration hub is expected to strengthen further, offering a robust and modern legal framework that appeals to international investors and legal professionals alike.


Sky-high architecture shows Kingdom’s business ambitions

Updated 24 May 2025
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Sky-high architecture shows Kingdom’s business ambitions

  • Influx of more than 180 multinational headquarters is generating strong demand for premium towers

RIYADH: Skyscrapers are transforming Riyadh’s skyline, signaling a bold shift in the capital’s urban and economic ambitions. From finance to high-end living, vertical development is accelerating, drawing comparisons to global cities such as New York.

Riyadh’s skyline is rapidly evolving, with high-rises, luxury towers, and smart skyscrapers rising from the King Abdullah Financial District to North Riyadh.

This vertical sprint isn’t just aesthetic, it’s strategic. Vision 2030, economic diversification plan, is at the heart of this real estate evolution. It seeks to double Riyadh’s population and rebrand it as one of the world’s top 10 global city economies.

Verticality is the new normal

According to the Real Estate and Municipalities Lead Partner at PwC Middle East Imad Shahrouri, Riyadh’s upward push is “a natural response” to the city’s transformational ambitions.

“We’re seeing landmark real estate initiatives unlock new mixed-use districts, while the influx of more than 180 multinational headquarters is generating strong demand for premium commercial and residential towers,” he told Arab News.

According to a report by Knight Frank, Riyadh’s population is projected to grow from 7 million in 2022 to 9.6 million by 2030.

To accommodate this change, the city will need approximately 305,000 new housing units for Saudi nationals between 2024 and 2034.

The growth is fueled by a compound annual rate of 4.1 percent, and Riyadh’s expatriate population is expected to swell to 5.5 million by 2030.

Much of this demand stems from the Kingdom’s need for skilled workers to manage giga-projects, new headquarters, and infrastructure rollouts.

These figures underscore just how essential vertical development has become. Riyadh isn’t just planning up — it has to build up to meet the city’s rapidly evolving demographic and economic realities. 

Developers are building vertically to capitalize on land and offer walkable, integrated live-work-play spaces that align with global urban trends.

Imad Shahrouri, Real Estate and Municipalities Lead Partner at PwC Middle East

Shahrouri said: “These developments aren’t happening in isolation; they’re supported by significant investment in public transit and metro infrastructure, which is accelerating the shift toward more connected, transit-oriented urban nodes.”

In a city where land prices are soaring and lifestyle expectations are shifting, vertical living is more than a trend, it’s financially viable.

The appeal is not just in height but also in smart density. Developers are building vertically to capitalize on land and offer walkable, integrated live-work-play spaces that align with global urban trends, Shahrouri explained.

High-rise hype and high-stakes investing

Luxury towers are fast becoming Riyadh’s new skyline signature, and investors are taking notice. 

From branded residences to environmental, social, and governance-compliant office towers, high-spec developments are increasingly viewed as strategic plays in a maturing market.

“We’re also seeing a shift in tenant expectations,” Shahrouri said.

He added: “Corporates are moving away from older stock in favor of smart, flexible spaces that support hybrid work models and sustainability goals. This is accelerating interest from institutional investors and REITs, who are drawn not just by the potential returns but by a maturing, more transparent market environment.”

Shahrouri cautions that valuation volatility in speculative zones and execution risks, like supply chain disruptions or limited contractor capacity, are factors investors must watch closely. Still, with robust local partnerships and regulatory alignment, the upside potential remains high.

A shift in the  mindset

Arthur Neron-Bancel, principal at Oliver Wyman’s Government and Public Institutions practice, calls Riyadh’s vertical growth a reflection of deeper socio-economic shifts.

“There is a global trend toward higher-density mixed-use urban developments offering integrated ‘live-work-play’ environments. Both Saudis and expatriates now expect spaces that align with international standards,” Neron-Bancel told Arab News.

He continued: “Demographic shifts among Saudis, such as smaller family sizes and later marriages, along with increased migration to Riyadh from other cities, contribute to increased demand for apartments or townhouses.”

Neron-Bancel noted that skilled expatriates, drawn by major government-led initiatives, are contributing to rising demand for new residential formats such as executive housing and apartments.

With projects like Expo 2030 and the 2034 FIFA World Cup on the horizon, he said, investors are expecting that demand to remain strong for several years.

Beyond just demographic drivers, he noted the regulatory and structural shifts behind Riyadh’s vertical real estate momentum.

“Recent regulatory reforms, primarily driven by the Royal Commission for Riyadh City, Real Estate General Authority, and Riyadh Amanah, have played a significant role in facilitating high-rise mixed-use developments,” he said.

Neron-Bancel added that key initiatives include the Wafi program for off-plan sales to aid developer financing, the Strata law supporting shared ownership and homeowner associations, and the Ejar program standardizing rental markets.

That strategy includes stronger investor protections, clearer permitting pathways, and a deliberate push toward mixed-use verticality.

Architectural shift

Vertical expansion is prompting new questions around urban identity, density, and the kinds of spaces cities should create for people to live, work, and thrive.

For some, this transformation signals a redefinition of what it means to be a modern capital.

Sachin Kerur, managing partner at international law firm Reed Smith, believes Riyadh’s new skyline is as much a cultural transformation as it is an architectural one. 

The higher density of development creates higher commercial and residential rental values with enhanced capital appreciation.

Sachin Kerur, mmanaging partner at Reed Smith

“There is a shift in the country’s urban development strategy, which is being seen best in Riyadh. Vertical development is gaining more attention than ever,” Kerur  told Arab News.

He added: “The higher density of development creates higher commercial and residential rental values with enhanced capital appreciation. This is driving the appetite for the supply side as investors start to queue for opportunities.”

Kerur explained that the demand side is also being driven by a young demographic wanting modern, affordable and hassle-free accommodation providing the lifestyle opportunities enjoyed in other major cities in the GCC.

Kerur believes Riyadh’s real estate boom is a symptom of the Kingdom’s infrastructure ambitions, a key ingredient of Vision 2030. 

The focus on vertical expansion signals the end of so-called urban sprawl, which is not seen as economically, or environmentally, attractive.

“There is definitely more dialogue in the Kingdom between government, developers, planning professionals, and architects. Urban sprawl is definitely old news,” he said, adding: “Cities are not judged well on the breadth of their horizontal limits. Today, building up creates better asset yields, reduces footprint and improves the living environment of a city.”

While Kerur acknowledges cultural hesitations, he remains optimistic.

“What Riyadh can now do is to aggregate the best in architectural and engineering talent and practice to create the next generation of innovative vertical living,” he added.

Kerur said that the sustainability advantages of Riyadh’s vertical shift will be considerable, particularly through the adoption of modern building materials and design approaches.

However, he noted that urban planners and developers will also need to account for cultural preferences and social attitudes toward high-rise living, which may still be unfamiliar or uncomfortable for many Saudis.

Even so, with a predominantly young population and fast-moving social change, he expects that more young Saudis, along with the growing expatriate community, will gradually embrace this new urban lifestyle.

Identity and investment

Kerur believes it is “absolutely essential” for Riyadh to have best-of-class, innovative and attractive vertical working and living space — a very clear expectation from the market and users.

When people can live, work, and socialize within the same area — often within the same building or neighborhood — it creates a more efficient, convenient, and productive environment.

This is especially important in cities that aspire to be global business hubs. Commuting long distances for meetings, meals, or leisure activities wastes time, adds stress, and contributes to traffic congestion.

In contrast, compact, mixed-use developments reduce the need for constant travel, helping professionals and residents make the most of their time.