Collaborating with esteemed real estate partners, such as one of the largest conglomerates in Saudi Arabia, has provided valuable perspectives on the current market.
Here are four significant changes we’re observing:
1. Jeddah is on the verge of a real estate and infrastructure spending boom. As Saudi Arabia’s ‘second city’ and the historical gateway to the Holy Cities of Makkah and Madinah, Jeddah is undergoing a revitalisation propelled by a substantial wave of investment. This transformation necessitates a thorough review of market dynamics and a strategic repositioning for destinations.
2. With ambitious plans to attract 100 million tourists to Saudi Arabia by 2030, Jeddah holds the potential to cultivate a vibrant tourist market. However, understanding the unique characteristics of the target audience these developments aim to attract is crucial. Businesses must take internal steps to ensure that these initiatives not only cater to this new demographic but also create opportunities for growth.
3. Branding has never been more critical in the current regional landscape. Now, with Jeddah not only catering to the regional target audience but also attracting international visitors, it is key to communicate your value proposition effectively. Attracting customer loyalty capable of driving substantial growth. How will you articulate and showcase your unique selling points to foster a connection strong enough to uplift your brand?
4. Additionally, noteworthy regulatory framework changes have propelled the market, beginning with a surge of international businesses coming into the region to relocate their headquarters, we see a new horizon for the shape of the Saudi market.
“As a Jeddah native, I’ve witnessed our city’s skyline evolve, mirroring its dynamic growth. Thrilled to contribute to the J-Gate project at Skyne. It’s a unique development: A place to connect, collaborate, and thrive. It’s all about having a prime experience while socialising and connecting with others and the place.
I captured this snapshot of the development sign on my way to the office today, eagerly anticipating the realisation of this project in the near future.” – Yasmeen Sabban, Graphic Designer at Skyne