MERED Unveils Strategic Vision For Saudi Arabia At Saudi Giga Projects 2025

At the Saudi Giga Projects 2025 in Riyadh, MERED, a global developer in real estate, unveiled its strategy for investing in the Kingdom of Saudi Arabia, aligning with the Vision 2030 objectives. This important event assembled key figures from government, mega-project initiatives, and the private sector to explore avenues for growth in construction and real estate, vital sectors within Saudi Arabia's rapidly expanding economy.

CEO of MERED, Michael Belton, took part in a fireside chat, offering insights on the company's entry and expansion tactics within the Saudi market. "Vision 2030 and ongoing economic diversification are driving strong demand across residential, retail, commercial, and hospitality sectors, supported by investor-friendly reforms.

"In major cities like Riyadh and Jeddah, we're seeing increased interest in premium and luxury living, as well as growing demand for Class A office spaces that reflect the ambitions of a modern business environment. MERED is well-positioned to meet these changing market needs through high-quality, innovative developments that offer lasting value," stated Michael Belton during his chat.

The Kingdom's endeavor to diversify its economy beyond oil is underscored by the anticipated role of the real estate sector, expected to account for 10% of the GDP by 2030. This shift is evidenced by the increased economic activities outside of the oil sector, now making up over half of the national GDP. A report by Knight Frank on Saudi Arabia for 2025 shows a significant trend: 93% of high-income Saudis are keen on purchasing property, a clear indicator of the burgeoning luxury real estate market in the country.

Chief Commercial Director of MERED, Yazan Al-Khalidi, expanded on this by discussing workforce development and the necessary skills for executing the Kingdom's large-scale projects effectively alongside other industry leaders.

In a move to foster architectural innovation and talent among the youth, MERED is backing a group of students to participate in the Pininfarina Architecture Summer School in Turin this July. This initiative is part of a collaboration with the renowned Pininfarina Academy, a design institution of high repute. The program aims to provide practical experience and international design exposure, equipping students with valuable skills applicable in architectural ventures throughout the region.

MERED's engagement at the Saudi Giga Projects 2025 and its investment in educational initiatives signal its dedication to contributing to Saudi Arabia's real estate goals through innovative, sustainable solutions and knowledge sharing.

The company's track record, with projects like the 290-meter ICONIC Residences in Dubai and Abu Dhabi designed by Pininfarina, showcases its capability to bring high-quality, futuristic developments to the Saudi market. This aligns with the broader vision of nurturing a competitive luxury real estate market in the Kingdom, in tandem with its Vision 2030 aspirations.