RIYADH: Saudi Arabia’s real estate sector is gaining momentum as investments in sports and entertainment create new opportunities for infrastructure development and economic stability, according to industry experts.
During a panel discussion on the final day of the Real Estate Future Forum, Chris Styring, director of the Sports Business Group at Deloitte, highlighted the potential for long-term benefits from sports infrastructure projects.
The Kingdom’s real estate sector is growing, with 192 project licenses issued in 2024, totaling SR147 billion ($39 billion), while the sports market is set to grow from $8 billion to $22.4 billion by 2030.
This surge in sports investment is driving real estate expansion, fueling demand for stadiums, training facilities, and mixed-use developments.
With the nation preparing to host the FIFA World Cup in 2034, Styring emphasized the urgency of upskilling local professionals.
“The World Cup seems a long way away, but it’s not. You’ve got to prepare. You’ve got to upskill the next generation of people who will be the event managers, the commercial managers, the people who deliver, the hospitality sector, and the real estate sector that’s actually building the infrastructure,” he said.
The Deloitte official believes there is “a great opportunity” to build sports infrastructure that can “give back”, adding that Saudi Arabia is well-positioned to host major sporting events in the future.
“I foresee that one day you’ll have a world-class marathon,” he predicted at the Riyadh event.
Simon Oaten, lead partner for Travel, Hospitality, and Leisure at Deloitte UK, underlined that preparations for such large-scale events are already accelerating. “Deadlines really focus the mind, and we’re starting to see that in a way that we weren’t seeing it nine to 12 months ago,” he observed.
Beyond sports, regulatory clarity and tax planning are crucial factors for investors in Saudi Arabia’s real estate sector, according to Hadeel Biyari, partner for Indirect Tax at Deloitte Middle East.
“All investors, whether they’re local or foreign, they look for certainty,” she said
Biyari also pointed out that Deloitte is actively developing local real estate expertise, adding: “That’s not only from a tax perspective but also from a legal perspective because I deal with tax disputes and litigation.”
As Saudi Arabia continues to drive innovation across all sectors in line with Vision 2030, the experts agreed that preparation, investment, and strategic planning will be key to ensuring the real estate sector thrives alongside the Kingdom’s growing sports and entertainment industries.
