Saudi Arabia’s real estate sector has become a focal point of interest for investors from the UAE, according to a prominent developer based in Abu Dhabi.
Suwaidan Al-Dhaheri, CEO of IMKAN Properties, expressed his views on the sidelines of the Future Hospitality Summit, emphasizing the Kingdom’s untapped potential in the real estate landscape. “Saudi Arabia is a booming place, and there is no reason not to invest in Saudi Arabia. I’m sure there will be opportunities in the future,” said Al-Dhaheri during his conversation with Arab News.
He noted that the demand for developers in Saudi Arabia is on the rise, presenting an opportune moment for his company to explore potential investment avenues. Currently, IMKAN Properties has 80 percent of its focus on the UAE, with the remaining 20 percent directed overseas, according to the CEO. Al-Dhaheri shared details about the company’s significant development project in Morocco, which encompasses hospitality segments, shopping facilities, apartments, clinics, and offices.
Additionally, he discussed an upcoming addition to their portfolio, featuring branded residences in the UAE, set to be unveiled by the year’s end. “This is not just about hospitality; it’s about hospitality, wellness, and clinics. We aim to provide a unique, three-in-one experience as developers,” Al-Dhaheri explained. He also highlighted their approach of attracting investors by building a community-based interest, going beyond mere development to create an environment that entices investors to be a part of their community.
During the interview, Al-Dhaheri mentioned that the firm is contemplating collaborations with various international operators to further enhance the hospitality sector.
The Future Hospitality Summit, centered around the theme “Focus on Investment,” acts as a catalyst for change, fostering interactions among over 1,000 hospitality leaders. The event, hosted at the Hilton Abu Dhabi Yas Island, features contributions from more than 150 speakers participating in panel discussions, interviews, roundtables, innovation pitches, and student-led sessions.
