US-based global commercial real estate services company JLL recently organized a real estate outlook event in Riyadh under the theme “A Reset for the Real Estate Sector” to share insights on the Saudi property market in 2022.
At the event, the CEO of JLL Middle East, Africa and Turkey, Mr. Thierry Delvaux and JLL experts provided an overview of the property market perspective and Saudi construction market and shared insights on the future workforce.
Sharing the macroeconomic overview at the event, Mr. Delvaux commented that “Globally, the pandemic has provided new impetus to many of the trends and themes that were already reshaping our cities, from changing work and lifestyle preferences to the core role of the digital economy and the need for more resilient, inclusive and sustainable communities.”
“In the KSA, the Saudi government has actively been spearheading initiatives and giga projects, as part of Vision 2030, to create a vibrant society, with more lifestyle developments coming into the picture. This has helped stimulate growth across the Kingdom, and we expect this to continue to positively impact the property market in 2022 as well,” Mr. Delvaux added.
The JLL event in Riyadh follows the company’s recent announcement that it has appointed a non-executive board of prominent business personalities in Saudi Arabia. The new board will assist JLL to lead the medium and long-term strategic directions in Saudi Arabia while advising on the company’s key business developments in the Kingdom.
The new JLL Non-Executive Board
Mr. Jehad Alkadi, Chief Executive Officer of Arriyadh Development Company (Board Chairman)
Ms. Hawazen Nazieh Nassief, Vice President ESG and External Affairs, National Energy Services Reunited Corporation (NESR)
Mr. Mohammed Al Khars, Chairman of Innovest Properties
Mr. Musaab Al-Muhaidib, Chief Executive Officer of Al Muhaidib Entertainment Ventures
The JLL real estate outlook event shared key insights into the KSA Real Estate market overview, Developing towards Vision 2030, Key construction cost trends for 2022, and Preparing for the workforce of the future.
