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Saudi Arabia Underscores Women's Role in Real Estate, National Development

The Real Estate Future Forum 2024 discussed on Tuesday women's prominent societal role that is significantly impacting real estate through purposeful planning for the required change. (Asharq Al-Awsat)
The Real Estate Future Forum 2024 discussed on Tuesday women's prominent societal role that is significantly impacting real estate through purposeful planning for the required change. (Asharq Al-Awsat)
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Saudi Arabia Underscores Women's Role in Real Estate, National Development

The Real Estate Future Forum 2024 discussed on Tuesday women's prominent societal role that is significantly impacting real estate through purposeful planning for the required change. (Asharq Al-Awsat)
The Real Estate Future Forum 2024 discussed on Tuesday women's prominent societal role that is significantly impacting real estate through purposeful planning for the required change. (Asharq Al-Awsat)

The Real Estate Future Forum 2024 discussed on Tuesday women's prominent societal role that is significantly impacting real estate through purposeful planning for the required change.

On its second day, the Forum reviewed the positive transformations in the Kingdom's housing sector and its plan within Saudi Vision 2030. It underlined the role of programs and financing solutions for housing support that have allowed more than 755,000 beneficiaries to sign financing contracts that have totaled more than $124 billion.

The Real Estate Future Forum 2024 kicked off in Riyadh on Monday under the auspices of the Ministry of Municipal, Rural Affairs, and Housing.

Held under the theme "The Power of Flexibility: Building a Sustainable and Flourishing Real Estate Future," the Forum features several strategic discussions about the real estate system on both local and global levels. Over 300 speakers representing over 85 countries worldwide are taking part in the event.

Executive Director of Urban Planning at Roshen Giovanna Carnevali stressed the importance of women's prominent role in society, which has significantly impacted real estate through purposeful planning.

Carnevali noted Roshen's participation in 100,000 housing units until 2030.

She said that 46 percent of the work in the facility depends on women, praising the Saudi opportunities available for women that are allowing them to develop in various fields.

Financing contracts

CEO of the Real Estate Development Fund (REDF) Mansour bin Madi stated revealed that the Fund's share of the total real estate financing market reached 74 percent, out of a total of $166.6 billion recorded in the Kingdom between 2017 and 2023.

Chairman of the Board of Directors of the Housing Division of the Saudi Umran Society Abdulrahman al-Johani discussed the transformations of the housing sector in the Kingdom over the past years, reviewing the current reality of housing and its plan within Vision 2030.

Johani cited ten development plans in housing that began implementation in 1970 and until the launch of Vision 2030 programs. They all focused on providing suitable housing for citizens at economic costs.

Urban planning development

CEO of the Quality of Life Program Khaled al-Bakr confirmed that the program developed urban planning, addressed visual distortions, and developed public spaces and facilities through many initiatives that contribute to improving the urban landscape and the quality of services provided in cities.

Governor of the Saudi Standards, Metrology, and Quality Organization (SASO) Saad al-Qasabi indicated that the conformity index for construction products and building materials offered in the Kingdom's markets for 2022 increased by 84% compared to 60% in 2020.

Qasabi explained that this comes from the authority issuing several technical regulations to improve construction products.

On the sidelines of the Forum, the Ministry of Municipal, Rural Affairs, and Housing launched the professional volunteering initiative in real estate to support youth development and enhance the concept of volunteering in the commercial and non-profit sectors.

It aims to raise awareness among the real estate community on the goals and mission of professional volunteering and to empower pioneering and leading figures to transfer knowledge to beneficiaries and develop their capabilities economically and socially.

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Business

IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
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IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA

The International Monetary Fund (IMF) and the Arab Monetary Fund (AMF) signed a memorandum of understanding (MoU) on the sidelines of the AlUla Conference on Emerging Market Economies (EME) to enhance cooperation between the two institutions.

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki, SPA reported.

The agreement aims to strengthen coordination in economic and financial policy areas, including surveillance and lending activities, data and analytical exchange, capacity building, and the provision of technical assistance, in support of regional financial and economic stability.

Both sides affirmed that the MoU represents an important step toward deepening their strategic partnership and strengthening the regional financial safety net, serving member countries and enhancing their ability to address economic challenges.

Business

Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT
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Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT

The Federation of Saudi Chambers announced the formation of the first joint Saudi-Kuwaiti Business Council for its inaugural term (1447–1451 AH) and the election of Salman bin Hassan Al-Oqayel as its chairman.

Al-Oqayel said the council’s formation marks a pivotal milestone in economic relations between Saudi Arabia and Kuwait, reflecting a practical approach to enabling the business sectors in both countries to capitalize on promising investment opportunities and strengthen bilateral trade and investment partnerships, SPA reported.

He noted that trade between Saudi Arabia and Kuwait reached approximately SAR9.5 billion by the end of November 2025, including SAR8 billion in Saudi exports and SAR1.5 billion in Kuwaiti imports.

Business

Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
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Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).

Harvard University economics professor Pol Antràs said Saudi Arabia represents an exceptional model in the shifting global trade landscape, differing fundamentally from traditional emerging-market frameworks. He also stressed that globalization has not ended but has instead re-formed into what he describes as fragmented integration.

Speaking to Asharq Al-Awsat on the sidelines of the AlUla Conference for Emerging Market Economies, Antràs said Saudi Arabia’s Vision-driven structural reforms position the Kingdom to benefit from the ongoing phase of fragmented integration, adding that the country’s strategic focus on logistics transformation and artificial intelligence constitutes a key engine for sustainable growth that extends beyond the volatility of global crises.

Antràs, the Robert G. Ory Professor of Economics at Harvard University, is one of the leading contemporary theorists of international trade. His research, which reshaped understanding of global value chains, focuses on how firms organize cross-border production and how regulation and technological change influence global trade flows and corporate decision-making.

He said conventional classifications of economies often obscure important structural differences, noting that the term emerging markets groups together countries with widely divergent industrial bases. Economies that depend heavily on manufacturing exports rely critically on market access and trade integration and therefore face stronger competitive pressures from Chinese exports that are increasingly shifting toward alternative markets.

Saudi Arabia, by contrast, exports extensively while facing limited direct competition from China in its primary export commodity, a situation that creates a strategic opportunity. The current environment allows the Kingdom to obtain imports from China at lower cost and access a broader range of goods that previously flowed largely toward the United States market.

Addressing how emerging economies should respond to dumping pressures and rising competition, Antràs said countries should minimize protectionist tendencies and instead position themselves as committed participants in the multilateral trading system, allowing foreign producers to access domestic markets while encouraging domestic firms to expand internationally.

He noted that although Chinese dumping presents concerns for countries with manufacturing sectors that compete directly with Chinese production, the risk is lower for Saudi Arabia because it does not maintain a large manufacturing base that overlaps directly with Chinese exports. Lower-cost imports could benefit Saudi consumers, while targeted policy tools such as credit programs, subsidies, and support for firms seeking to redesign and upgrade business models represent more effective responses than broad protectionist measures.

Globalization has not ended

Antràs said globalization continues but through more complex structures, with trade agreements increasingly negotiated through diverse arrangements rather than relying primarily on multilateral negotiations. Trade deals will continue to be concluded, but they are likely to become more complex, with uncertainty remaining a defining feature of the global trading environment.

Interest rates and artificial intelligence

According to Antràs, high global interest rates, combined with the additional risk premiums faced by emerging markets, are constraining investment, particularly in sectors that require export financing, capital expenditure, and continuous quality upgrading.

However, he noted that elevated interest rates partly reflect expectations of stronger long-term growth driven by artificial intelligence and broader technological transformation.

He also said if those growth expectations materialize, productivity gains could enable small and medium-sized enterprises to forecast demand more accurately and identify previously untapped markets, partially offsetting the negative effects of higher borrowing costs.

Employment concerns and the role of government

The Harvard professor warned that labor markets face a dual challenge stemming from intensified Chinese export competition and accelerating job automation driven by artificial intelligence, developments that could lead to significant disruptions, particularly among younger workers. He said governments must adopt proactive strategies requiring substantial fiscal resources to mitigate near-term labor-market shocks.

According to Antràs, productivity growth remains the central condition for success: if new technologies deliver the anticipated productivity gains, governments will gain the fiscal space needed to compensate affected groups and retrain the workforce, achieving a balance between addressing short-term disruptions and investing in long-term strategic gains.