MERED eyes expansion into Saudi real estate market
The developer’s leadership team will engage with government agencies, investors, and developers alike, exploring new partnerships and expansion opportunities in the Kingdom
Developer MERED has set its sights on real estate investments in Saudi Arabia. The move is said to align with the country’s ambition to transform its real estate landscape through innovation, infrastructure, and international expertise. Backed by its sound financial foundation and experienced local team, the developer is committed into engaging with Saudi youth, adopting knowledge transfer, and unlocking the potential of the next generation, said a statement from the developer.
Michael Belton, CEO of MERED commented: “Saudi Arabia is the next frontier for luxury real estate, and MERED is ready to redefine the market as we continue expanding our portfolio of prime real estate. As both local and foreign investors show a growing appetite for buying property in the country, our experience with high-end developments and international expertise uniquely positions us to increase our exposure in the biggest Gulf economy. We’re bringing bold ideas, strategic partnerships, and a fresh vision that blends innovation with Saudi Arabia’s vibrant future. MERED and the PIF-run Private Sector Forum’s goals go hand in hand to spur growth and prosperity in the nation.”
Saudi Arabia’s real estate sector is experiencing growth driven by upcoming global events such as Expo 2030 and FIFA World Cup 2034, alongside other ongoing efforts under Vision 2030. The sector’s contribution to Saudi GDP is expected to increase from 5.9% in 2024 to 10% by 2030, according to Standard & Poor, while non-oil activities have surpassed 50% of Saudi Arabia’s real GDP, a historic shift in the Kingdom’s economic transformation, said the developer in its statement.
The recent opening of the Two Holy Cities, Mecca and Medina to foreign property investment marks a significant milestone in incentivising the development of a vibrant luxury real estate market, the statement highlighted.
From the 290m ICONIC Residences Design by Pininfarina in Dubai to a waterfront project in Abu Dhabi, MERED is now prepared to introduce groundbreaking developments in Saudi Arabia, designed for a cosmopolitan, high-net-worth lifestyle.
The developer said its leadership team will engage with government agencies, investors, and developers alike, securing new partnerships and expansion opportunities in Saudi Arabia to deliver premium, future-forward projects that meet the evolving needs of the market.
