The 16th Real Estate Development Summit (REDS) Saudi Arabia: Luxury Edition, hosted by GBB Venture, took place on November 20-21, 2024, at the Ritz Carlton in Jeddah.
This prestigious event brought together over 90 global suppliers, 170+ project companies, and representatives from more than 7,000 projects across the Kingdom, focusing on the theme “Together Towards Tomorrow.”
The summit aimed to explore the future of real estate development, with discussions covering investment, development, design, and project delivery, all while keeping sustainability at the core. Over 650 carefully pre-qualified attendees, including key decision-makers from the real estate industry, participated in the event, making it the largest invite-only gathering for real estate professionals in Saudi Arabia.
Key Highlights and Discussions
The event kicked off with a dynamic welcome address by Ravi Kumar Chandran, Managing Director of GBB Venture. Dr. Sami Angawi, Founder of Sami Angawi Architects, shared his inspiring vision for future developments in Saudi Arabia. One of the most popular topics of discussion was “Branded Residences: The Direction of Luxury in Real Estate,” led by Elias Bou Habib from CBRE. This session focused on the growing demand for high-end, branded residential properties in Saudi Arabia and the broader luxury market.
One of the standout sessions was the Fire Side Chat on residential luxury, moderated by Pedro Ribeiro from CBRE. The panel featured prominent industry leaders such as Fabrice Collot of Arabian Homes, Cyril Piaia of Emaar Economic City, and Sultan Batterjee of IHCC. They discussed the increasing demand for luxury residences in Saudi Arabia and the need to bring in international expertise to elevate the market.
The summit’s signature feature, the pre-scheduled face-to-face meetings, saw over 1,400 meetings between suppliers and project owners. These sessions allowed for valuable business connections and project discussions, ensuring that every participant’s needs were addressed.
Sustainability Takes Center Stage
A major focus of the summit was on sustainable luxury in real estate. A panel moderated by Ignacio Gómez, Global Design Principal at Aedas, included leaders from some of Saudi Arabia’s biggest mega-projects. The discussion centered on how sustainability is being integrated into the planning and development of giga-projects like those by Red Sea Global, Aseer Development Authority, and KAFD.
One of the key takeaways was how these projects are not just focusing on luxury, but also on ensuring that sustainability is embedded in every aspect of development—from architecture to urban planning. The panel debunked the myths around sustainable luxury and showed real-world examples of how eco-friendly design can be both luxurious and feasible.
Tourism, Hospitality, and Heritage Preservation
The second day of the summit featured discussions on tourism and hospitality, led by a panel of experts such as Lee Hallman from AlUla Development Company and Fahad Alobailan of Alhokair Group. The panel highlighted the growing opportunities in Saudi Arabia’s tourism sector, particularly religious tourism, and the importance of preserving Saudi Arabia’s heritage while offering modern luxury experiences.
Another fascinating session addressed the balance between preservation and modernization. Speakers like Gabriel Gil from OMRANIA, Ralf Steinhauer from RSP, and Tim Martin from Gensler Middle East discussed how real estate developers can modernize properties while retaining Saudi Arabia’s cultural and architectural heritage.
REDS Industry Choice Awards and Networking
The summit concluded with the prestigious REDS Industry Choice Awards (RICA) gala, celebrating excellence in real estate development. The winners included notable names like Ignacio Gómez (Celebrated Architect of the Year) and Oussama Kabbani from ROSHN (Celebrated Developer of the Year). The evening also featured a workshop by Dr. Sami Angawi, showcasing Saudi Arabia’s architectural heritage and traditional craftsmanship.
Throughout the two days, the summit was filled with rich discussions, networking opportunities, and valuable insights into the future of real estate development in Saudi Arabia. GBB Venture’s commitment to fostering business connections and knowledge sharing continues to grow, with plans for more events in 2025.
This year’s summit was a significant step towards shaping the future of real estate development in Saudi Arabia, offering a platform for stakeholders to collaborate, innovate, and explore new business opportunities in one of the world’s fastest-growing markets.
About GBB Venture
GBB is a world-leading invite-only B2B networking events provider and International Trade Consulting firm working to plug you directly into the heart of global business opportunities. Our motto is “Creating Value” and we do it through business events designed for growth, innovation, and strategic partnership.
For any queries and comments, you can contact marketing@gbbventure.com or +44 2038 68 2202
