Property Articles Real Estate Articles Vision 2030 and the future of real estate development in Saudi Arabia
Under the umbrella of Vision 2030, many sectors have received exceptional support from the state, as part of the vision's promises to reshape the Kingdom's capabilities and exploit the comparative advantages of each region to create a modern and prosperous state, based on strong and solid fundamentals, and to launch into broad horizons, making the Kingdom a modern and developed country that is referred to by name.
If the support has been exceptional, it has been in the form of a number of initiatives that have been launched by the vision. <If the official support affected many investment sectors, the <a style="color: #800000;" href="https://rer.The real estate sector has received the lion's share of this support, based on the sincere desire of the rulers to secure housing for every citizen. Consequently, the sector has witnessed many programs, incentives and facilities that sought to establish a model real estate sector that supports the Kingdom's economic system.
Because official support for real estate does not end, the sector recently received support of another kind, embodied in the announcement of His Royal Highness Prince Mohammed bin Salman, Crown Prince and Prime Minister, to launch Ardara, a real estate developer tasked with delivering innovative real estate development projects in accordance with the highest standards of sustainability and achieving the goals of economic diversification and inclusive growth.
The new company, although real estate in nature, has a special path, which is crystallized by the first project it will implement on the ground, which is the development of "Abha Valley“ in the Asir region, this project exploits the picturesque nature of the region and blends it with heritage and other assets, so that the result is a qualitative tourism project capable of making the Kingdom an urban center and an attractive tourist destination for local and international visitors, in line with the objectives of the ambitious vision.
The launch of the new company is in line with the objectives of the ambitious vision. The launch of ”Ardara“ company confirms a fixed fact, which we have always referred to, which is that real estate is an integral part of other sectors, and its services are indispensable, for example, tourism needs real estate services in the construction of hotels, attractions and museums, industry needs to build factories, warehouses and administrative offices, and health also needs to build hospitals and health centers, etc.
The mechanism of work of the new “Ardara“ company confirms that real estate is a vast, limitless sea, and this is reflected in the company's tasks and mechanisms in the implementation of the ”Al Wadi“ project, which extends over an area of 2.5 million square meters, with an architectural and urban character inspired by the heritage of the Asir region and its ancient history, where the project will take into account the standards of sustainability and raise the quality of life, by providing more than 30% of the project area as open green spaces, 16 km of water destinations, 17 km of sports tracks, as well as cultural and community activities.
From the above, the new company ”Ardara“ confirms that the real estate is a vast sea with no limits, and this is reflected in the company's tasks and mechanisms in the implementation of the project ”The Valley", which extends over an area of 2 million square meters. The above indicates that the support received by the real estate development sector in the Kingdom, with its various tracks, under the umbrella of Vision 2030 will remain the largest and largest of its kind, and this will create a real estate development sector capable of supporting the state treasury, diversifying the country's sources of income, and creating a Saudi urban renaissance that rivals the same renaissance, whether in the Middle East or the world.
The above indicates that the real estate development sector in Saudi Arabia, with its various tracks, will remain the largest and largest of its kind.
