The Saudi Government is in the midst of an aggressive national development plan to diversify
the country’s economy and bolster operations and investments across all key economic sectors.
Flagship projects such as the expansion of Saudi Arabia’s two industrial cities, Jubail and Yanbu, and
the construction of six economic cities from the ground up serve as national icons for the myriad
of development projects currently underway across the Kingdom and the critical infrastructure,
telecommunications, power generation, utilities and transportation needed to support them. The
Kingdom has launched unprecedented expansion programs that include the simultaneous construction
of three major new rail lines, while upgrading all major airports and seaports. From a real estate
perspective, the Saudi Government is addressing the rise in housing demand resulting from high
population growth.