Hines, one of the largest real estate development companies in the world, is preparing to launch a major expansion plan in Saudi Arabia in 2026, reflecting the attractiveness of the Saudi real estate market, which has become one of the most active construction and development markets in the Middle East.
According to a report by Bloomberg, Houston-based Hines is in the process of establishing a new office in the capital, Riyadh, with the relocation of senior executives. <According to a report by Bloomberg, the Houston-based company, which has more than $92 billion in assets under management, is in the process of establishing a new office in the capital Riyadh, with a number of its senior executives relocating to the kingdom. The company's new projects will focus on industrial, modern office and mixed-use developments that combine living, working and entertainment.
An attractive investment environment
<The move comes at a time when the Kingdom is accelerating its efforts to develop and regulate the real estate market, as the government approved raising the fees for white land to 10% per year in priority areas, incentivizing owners to develop or sell land instead of monopolizing it. It also imposed a five-year freeze on rents to ensure market stability and maintain reasonable price levels for citizens and residents. Experts believe that these policies pave the way for international companies such as Heinz to increase their investments in the Kingdom and participate in transforming Riyadh and major Saudi cities into world-class urban centers.These policies pave the way for international companies such as Heinz to increase their investments in the Kingdom.
Transferring global expertise to Saudi Arabia
Laura Haynes-Pierce, co-CEO of the company, said the expansion into Saudi Arabia is an important strategic move, noting that "strengthening our regional presence allows Hines to bring its global expertise in sustainable urban development and innovation to projects with long-term impact in the Kingdom."Haynes-Pierce added that the company's expansion into Saudi Arabia is an important strategic move. <She added that the company seeks to build integrated urban communities that reflect the highest standards of design and quality, in line with the objectives of Saudi Vision 2030, which focuses on improving the quality of life and diversifying the economy.
Leading regional expansion
<Steve Luthman, Hines" global head of real estate, will lead the firm's operations in the Middle East, while David Steinbach, global head of investment, will continue to oversee investment strategy and asset portfolio expansion in the region. The expansion extends the firm's presence that began in Dubai in 2020, where it participated in quality projects as the real estate market recovered, encouraging global giants such as Goldman Sachs, Brookfield and Hillhouse to enter the region aggressively.
Global legacy and decades of experience
The Heinz Company was founded in 1957 by the late billionaire Gerald Heinz, known for creating architectural and engineering concepts that transformed cities such as Houston and New York. Since then, the company has become a symbol of excellence in the development of towers and integrated urban complexes around the world. <Today, Heinz's entry into the Saudi market is seen as a strategic move that underscores the Kingdom's transformation into a major global real estate investment destination and an indication of international companies” confidence in Saudi Arabia's rapidly evolving economic and regulatory environment.
