The 19th Real Estate Development Summit Saudi Arabia – Luxury Edition successfully concluded after two days of high-level exchange, strategic collaboration, and global networking, bringing together more than 800 leaders, investors, and decision makers shaping the future of the Kingdom’s rapidly evolving built environment.
Held under the theme “Together Towards Tomorrow,” the summit showcased the unprecedented transformation underway across Saudi Arabia, where the real estate and construction pipeline has surpassed $2 trillion, redefining global standards of development, hospitality, and innovation.
In the welcome address, Ravi Kumar Chandran, the Founder & Managing Director – GBB Venture, as the organiser, highlighted the launch of the summit’s first dedicated investment track, featuring over 200 global investment leaders, and announced a strategic partnership with VCM to ensure the event achieved net-zero emissions through carbon measurement, reduction, and offsetting, reinforcing Saudi Arabia’s leadership in sustainability.
In the opening session of the summit, on a fireside conversation lead by Lama Alhamawi, Head of Diplomacy & Foreign Affairs - Arab News, with the speaker Eng. Essam Ahmad Kalthoum, Chief Executive Officer – Asmou Development Company, reflected on 40 years of development experience, highlighting rapid growth and evolving demand for smart, compact, amenity-rich housing.
He discussed major mixed-use and high-rise projects across the Kingdom and regional expansion into Cairo, Muscat, and Amman, emphasizing governance, ESG, and public listing as critical for credibility and long-term success.
Localisation, industrial expansion
In a major industry announcement, Jalal Al Kurdi, Commercial Director - HH Shaker, unveiled the launch of Midea Shaker Company (MSA), a joint venture marking a transformational step in manufacturing localization.
The project begins with a 20,000 sqm facility with capacity for 650,000 AC units annually, expanding to 85,000 sqm with components manufacturing including compressors and robotics.
Supporting giga-projects like NEOM, Red Sea, and Qiddiya, the facility will generate employment, raise installation standards, and establish Saudi Arabia as a regional export hub for the GCC and Levant.
At the event, Osan Ghaddaf, Founder and Creative Director - Artevo Consulting, demonstrated how art transforms destinations into living cultural experiences, rather than decoration. With landmark projects across the region including The Red Sea, Diriyah Gate, Rosewood, and the Qatar National Museum, Artevo highlighted the power of storytelling and experiential installations in shaping distinctive luxury developments.
Nicolás Otero, Business Development Manager - BIOO introduced breakthrough biotechnology capable of transforming green spaces into producers of electricity, water savings, cooling, and interactive experiences, through systems such as biopanels, bioswitch installations, and bioluminescent landscapes.
With implementation readiness and ROI within 5 - 7 years, these innovations position Saudi Arabia at the forefront of biotech-powered cities.
Redefining luxury through legacy
Tetyana Kovalenko, Founder & Chairwoman - Elite Stone Srl. also contributed to this theme by exploring the pillars of luxury: Legacy, Worldwide recognition & branding, Uncompromising quality, Limited availability & exclusivity and High economic value with reference to her 2000 year-old quarry in Italy that incorporates all the true elements of luxury in their products.
Miklós Veszprémi, Senior Strategic Partnerships Manager – VCM further elaborated on growing role of carbon credits and the Voluntary Carbon Market (VCM) in Saudi Arabia.
Established in 2021 with Public Investment Fund support, the Kingdom’s carbon exchange has rapidly become one of the world’s largest, enabling corporations to accelerate net-zero commitments. The session framed sustainable real estate not only as an environmental obligation, but a regulatory requirement, financial opportunity, and national expectation, supporting Vision 2030 ambitions.
Ron Bakker, Co-Founder - PLP Architecture presented a shift from purely sustainable and smart buildings toward human-centred architecture, using research-based design and biophilia to create spaces that inspire connection. Their global mixed-use projects in Rotterdam, Tokyo, London, and Riyadh illustrated how public realm quality, mobility, and integrated lifestyles drive city vitality.
The panel: ‘Art of Enhancing Experiences’ focused on the evolving meaning of experience in luxury hospitality, noting that today’s travellers seek emotion, memory, and authenticity beyond physical luxury.
