Saudi Arabia's real estate market is undergoing significant transformation, with a growing preference for suburban living and more efficient housing designs, according to experts at the Real Estate Future Forum in Riyadh.

Khaled Elsehamy, chief development officer for real estate at the National Housing Co., emphasized the increasing appeal of suburban areas, driven by improvements in transportation and access to essential services.

He also noted a shift towards smaller housing units as rising utility and maintenance costs encourage more efficient living.

Elsehamy highlighted that homebuyers are now seeking properties that fit different life stages, focusing on long-term savings and modern needs.

The trend towards community living, which includes amenities like community centers and spaces for remote work, is also gaining momentum in the Kingdom.

Andrew Baum, emeritus professor at Oxford, stressed that accessibility has surpassed location as the key factor in real estate, with new infrastructure projects like Riyadh’s metro set to drive property values in newly accessible areas.

Additionally, experts like Oussama Kabbani of ROSHN emphasized the growing sophistication of the Saudi real estate sector, with an emphasis on customer engagement, lifestyle-driven communities, and investments in senior living and healthcare facilities.

Regulatory reforms and advancements in technology are also reshaping the market, with an emphasis on innovation and growth in the sector.

Nasser Al-Kadi of Awqaf Investment praised the regulatory changes for increasing transparency and attracting external capital, while Robert J. Di Franco of Roaya Co. highlighted the integration of technology in every phase of real estate development, from market analysis to facility management.