DUBAI/RIYADH: Gender inequality is still a worldwide issue, and while some organizations say they are trying to rectify the situation, it requires genuine social acceptance if policies surrounding female empowerment are to make any real difference, a leading Saudi executive has warned.
“Samba has all the right policies supporting the inclusion of women in terms of the pay grade and mentorship programs,” Samba Financial Group CEO Rania Nashir said on Tuesday on the first day of the Future Investment Initiative (FII) 2019 conference in Riyadh.
The majority of female employees at Samba work at its head office, and “Samba has no pay gap,” she said. “Promotions aren’t based on gender. They’re based on competency, skills and qualifications.”
But these policies “won’t be as effective” if “social acceptance and family support isn’t there,” Nashir said.
“There are two main challenges for women inclusiveness in the workforce: Men in leadership to believe that women can add value, and for women themselves to believe that they have a role to play.”
Nashir, who said she was supported by her family in her decision to not marry, said women are CEOs by nature, being able to multitask and “manage chain, human resources, diversity, education — they’re project managers.”
Although she lauded current government efforts, including investing in women’s education and health, “this hasn’t been reflected in their contribution to the economy,” Nashir said.
“Women are contributing 23 percent to the economy. This looks low, but if we compare it to two years ago, it was only 17 percent,” she added.
“This shows accelerated growth of women inclusiveness in the workforce, but we have to do more. We have to have more role models.”
Economists estimate that more women in the workforce could generate up to $28 trillion in global gross domestic product (GDP) by 2025.
Also on the panel discussing the “She economy” was Dr. Sahar Nasr, Egypt’s minister of investment and international cooperation.
She said Egypt had managed to enable an environment for women to play an active role economically, and provide equal access to finance, capacity-building and training.
According to the UN, women’s economic empowerment is good for the economy — it is estimated that gender gaps cost the economy 15 percent of GDP.
The UN also states that economic equality is good for business. It is widely documented that companies that increase employment and leadership opportunities for women perform better, are more profitable and experience greater growth.
Citigroup CEO Michael Corbat said: “The benefits of a diverse workforce far outweigh any costs that come with the course of a natural lifecycle.”
He added that Citigroup already provides emergency childcare facilities to help parents when their child is unable to attend school.
The three-day FII, held at the Ritz-Carlton Hotel in Riyadh, is being attended by heads of state, government leaders, and decision-makers from the business and finance communities.
Gender equality is essential, so why isn’t it happening?
Gender equality is essential, so why isn’t it happening?
- Economists estimate that more women in the workforce could generate up to $28 trillion in global GDP by 2025
- According to the UN, women’s economic empowerment is good for the economy
Reforms target sustained growth in Saudi real estate sector, says Al-Hogail
RIYADH: The Real Estate Future Forum opened its doors for its first day at the Four Seasons Riyadh, with prominent global and local figures coming together to engage with one of the Kingdom’s most prospering sectors.
With new regulations, laws, and investments underway, 2026 is expected to be a year of momentous progress for the real estate sector in the Kingdom.
The forum opened with a video highlighting the sector’s progress in the Kingdom, during which an emphasis was placed on the forum’s ability to create global reach, representation, as well as agreements worth a cumulative $50 billion
With the Kingdom now opening up real estate ownership to foreigners, this year’s Real Estate Future Forum is placing a great deal of importance on this new milestone and its desired outcomes and impact on the market.
Aside from this year’s forum’s unique discussions surrounding those developments, it will also be the first of its kind to launch the Real Estate Excellence Award and announce its finalist during the three-day summit.
Minister of Municipalities and Housing and Chairman of the Real Estate General Authority Majed Al-Hogail took to stage to address the diverse audience on the real estate market’s achievements thus far and its milestones to come.
Of those important milestones, he underscored “real estate balance” as a key pillar of the sector’s decisions to implement regulatory tools “with the aim of constant growth which can maintain the vitality of this sector.” He pointed to examples of those regulatory measures, such as the White Land Tax.
On 2025’s progress, the minister highlighted the jump in Saudi family home ownership, which went from 47 percent in 2016 to 66 percent in 2025, keeping the Kingdom’s Vision 2030 goal of 70 percent by the end of the decade on track.
He said the opening of the real estate market to foreigners is an indicator of the sector’s maturity under the leadership of Crown Prince Mohammed bin Salman. He said his ministry plans to build over 300,000 housing units in Riyadh over the next three years.
Speaking to Arab News, Al-Hogail elaborated on these achievements, stating: “Today, demand, especially local demand, has grown significantly. The mortgage market has reached record levels, exceeding SR900 billion ($240 billion) in mortgage financing, we are now seeing SRC (Saudi Real Estate Refinance Co.) injecting both local and foreign liquidity on a large scale, reaching more than SR54 billion”
Al-Hogail described Makkah and Madinah as unique and special points in the Kingdom’s real estate market as he spoke of the sector’s attractiveness.
“Today, the Kingdom of Saudi Arabia has become, in international investment indices, one that takes a good share of the Middle East, and based on this, many real estate investment portfolios have begun to come in,” he said.
Al-Ahsa Gov. Prince Saud bin Talal bin Badr Al-Saud told Arab News the Kingdom’s ability to balance both heritage sites with real estate is one of its strengths.
He said: “Actually the real estate market supports the whole infrastructure … the whole ecosystem goes back together in the foundation of the real estate; if we have the right infrastructure we can leverage more on tourism plus we can leverage more on the quality of life … we’re looking at 2030, this is the vision … to have the right infrastructure the time for more investors to come in real estate, entertainment, plus tourism and culture.”
