Indian investors gear up for ‘big-time opportunities’ in Saudi real estate

Indian investors gear up for ‘big-time opportunities’ in Saudi real estate

NEW DELHI: Indian investors are gearing up to enter Saudi Arabia’s real estate sector, which they say will boom over the next few years and overtake the UAE.

With major policy and fiscal initiatives, as well as ongoing megaprojects in non-oil industries under Vision 2030, the Kingdom is becoming an increasingly attractive destination for investors, also in real estate.

“There are big-time opportunities in Saudi Arabia in the real estate sector,” Confederation of Indian Industry senior director, Manish Mohan, told Arab News.

Investment in the sector is likely to yield big returns and Indian investors are expecting returns similar to or even higher than those that investment in Dubai property brought decades ago.

And Mohan expected it to happen in the very near future.

“Saudi Arabia would be a different story in the next five years. Property prices would be skyrocketing, that’s why investment in property makes sense,” he said.

“Indians are not only seeing good returns but also a good opportunity, it’s a profitable business for them.”

One of the Indian pioneers eyeing Saudi property is Strata, a fractional investment fund in premium real estate assets, which plans to invest $500 million over the next five years.

“Everyone has