Starting with a forecast that offers cautious optimism, the IMF predicts a 4% economic growth rebound in the Middle East and North Africa by 2025 despite current challenges like geopolitical tensions and oil production cuts, while the outlook for 2024 remains modest at 2.1%.

In alignment with this gradual economic progress, Saudi Arabia is emerging as a tech hub akin to a future "Silicon Valley," driven by a dramatic rise in venture capital investments, which jumped from $60 million in 2018 to an impressive $1.4 billion in 2023.

These developments are fueled by Saudi Arabia's Vision 2030, which is not only transforming its energy transitions and AI integration but has also resulted in a 70% increase in private investments, far surpassing initial targets and attracting international companies to Riyadh.

In the aviation sector, Riyadh Air is contributing to this vision by expanding its global routes with plans to order wide-body aircraft next year, complementing its recent deals for Airbus and Boeing aircraft, aiming to reach 100 routes by 2030.

Echoing this growth, Rafal Real Estate has launched a major residential project in northern Riyadh, unveiling 3,580 apartments, which aligns with Vision 2030 by promoting urban living and stabilizing revenue streams within the real estate sector.

Finally, PGIM Real Estate is eyeing investment opportunities in Saudi Arabia’s shifting market, focusing on data centers and leveraging strong market fundamentals, making it a strategic moment to enter the kingdom's real estate industry.