Knight Dragon unveils big Mideast plan with Saudi foray

Knight Dragon unveils big Mideast plan with Saudi foray

Saudi Arabia - Knight Dragon, a leading international property developer, is set to open its office in Saudi capital Riyadh in the fourth quarter as part of its regional expansion plans.

The company is also seeking strategic patrnership opportunities in UAE, Qatar and Middle East.

On its Saudi foray, Knight Dragon said the kingdom was now a clear global leader in visionary infrastructure projects with plans to invest hundreds of billions of dollars over the next decade.

"Just looking at NEOM alone shows the scale of the ambition of the Saudi Arabian leadership. Valued at $500 billion, it will be a 26,500 sq km development stretching across the borders of northwest Saudi Arabia into Jordan and Egypt," said Sammy Lee, the Vice Chairman of Knight Dragon.

"Expected to be complete by 2030, it will be a development almost the size of Belgium and comprises four megacities including Sindalah, Trojena, Oxagon and the LINE," stated Lee.

"Close to 7% of Saudi Arabia's GDP comes from real estate, making it a critical sector that underpins many others. As the Saudi economy diversifies, the goal is to double the sector's contribution to GDP to 10% by 2030," he added.

Lee pointed out that pioneering in property construction and value-creation