Arabia Saudi – As part of its intentions for regional expansion, Knight Dragon, a renowned worldwide real estate developer, expects to build an office in the Saudi capital of Riyadh in the fourth quarter.
The business is also looking for strategic alliances in the Middle East, Qatar, and the United Arab Emirates.
Regarding their venture into Saudi Arabia, Knight Dragon claimed that the country was now unquestionably the world’s leader in bold infrastructure initiatives, with plans to spend hundreds of billions of dollars over the ensuing ten years.
“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 stated that Knight Dragon places a strong emphasis on value generation and property construction innovation.
“We are entrepreneurial, creative-spirited makers of places who bring new ideas and set new standards for modern living. Being the first company to tokenize an entire building in Central London fits exactly with our bold vision for the global property industry,” he stated.
“As Saudi Arabia continues its world-leading development and creates new global hubs, backed by plans for an exciting new airline, NEOM Airlines, Knight Dragon seeks to add value and skill where we have the capability,” said Lee.
“Core to our capability is our pioneering experience in building tokenization, modular technology, and next-generation lightweight concrete technology. We are confident our experience and skill in these areas will be of great value to Saudi Arabia, UAE, Qatar, and the entire Middle East as the region turns vision into reality and achieves its goal of building the future,” he added.