Saudi Arabia’s sweeping urban transformation and ambitious real estate agenda were recently spotlighted in London at Capitals London, a two-day investor forum held at Grosvenor House, Mayfair. Hosted by Tahaluf, the organiser of Cityscape Global, Capitals London brought together senior Saudi government leaders and developers with UK and European institutional investors to explore opportunities in one of the world’s fastest-growing property markets. The forum aimed to generate interest from international investors in opportunities to deploy their capital across Public Investment Fund (PIF) backed giga-projects and privately owned real estate projects.

Capitals London, sponsored by the Saudi Ministry of Municipalities & Housing (MOMAH), the Real Estate General Authority (REGA), and the Ministry of Investment (MISA), rallied around a remarkable array of decision-makers, from public and private entities, including the Saudi Real Estate Refinance Company (SRC), Saudi Mortgage Guarantees Services Company (Damanat), National Housing Company (NHC), PIF, King Abdullah Financial District Development and Management Company (KAFD DMC), Red Sea Global, New Murabba, and the Sports Boulevard Foundation. The event drew a curated audience of institutional investors, family offices, private equity executives, and limited partners with combined real estate assets under management exceeding $4.4 trillion.

“Guided by Vision 2030 and supported by the unwavering commitment of our leadership, we are reimagining our cities to be more than just places to live but hubs of opportunity, innovation, and quality of life,” said HE Majed bin Abdullah Al-Hogail, Minister of Municipalities & Housing, addressing an audience committed to understanding both the investment mechanisms and the macroeconomic drivers of Saudi Arabia’s urban development boom. Front and centre of the conversation was the Kingdom’s commitment to invest over $1 trillion in real estate and infrastructure development over the next decade, marking it one of the world’s most ambitious investment frontiers.

Beyond a solid Investment thesis, international investors who have never invested in the kingdom need practical guidance to enter the Saudi market. Addressing this crucial point, Fahad Al Hashem, Assistant Deputy Minister of Investment Development at MISA, highlighted regulatory reforms and market liberalisation as central to MISA’s strategy, pointing to a growing pipeline of opportunities in residential, commercial, and mixed-use developments. Further clarity was provided by representatives from MISA’s UK office, who guided prospective investors through the Kingdom’s investment entry points, legal frameworks, and operational setup processes.

The message was clear: Saudi Arabia is open for business and prepared for partnerships.

A significant portion of the event was dedicated to showcasing flagship developments currently reshaping the Saudi real estate landscape. Mohammad Albuty, CEO of NHC, the Kingdom’s largest real estate developer, featured prominently. In a fireside chat, Albuty elaborated on NHC’s extensive pipeline, which includes tens of thousands of residential units and community infrastructure projects.

“We are building the future of urban living in Saudi Arabia,” he stated. “Through strategic partnerships and investment, we aim to meet demand, improve affordability, and deliver sustainable returns.”

KAFD, Riyadh’s financial district and a key element of the city's ambition to become a global capital, was also a major focus. Milan Mirjanic, KAFD’s Chief of Strategy and Portfolio Management, underscored the scale of the opportunity and highlighted KAFD’s pivotal role in advancing Saudi Arabia's burgeoning real estate sector. He emphasised that as Riyadh establishes itself as a leading global capital, "KAFD is proud to be at the forefront, showcasing a tangible example of the scale and scope of KSA real estate opportunities”.

One of the most compelling narratives was presented by Greg Djerejian, Group Head of Investments and Group Chief Legal Officer at Red Sea Global. This mega-developer is responsible for a portfolio of luxury tourism and sustainable urban projects along the Kingdom’s western coastline.

“The scale, ambition and complexity of our destinations are unparalleled,” Djerejian remarked. “Yet in only seven years, we have delivered on our promises and are welcoming guests and investors. There is still much more to come, and Capitals London provides a great opportunity to show UK investors what we’ve already achieved and how they can be part of Saudi Arabia’s future success.” Red Sea Global’s projects, including the Red Sea destination and Amaala, are gaining international recognition for their focus on regenerative tourism and ESG-led development, reinforcing the Kingdom’s aspiration to become a global hub for sustainable luxury real estate.

Across two days of panels, roundtables, and private briefings, the consistent emphasis was on fostering strategic partnerships between Saudi institutions and international capital providers. Whilst public sector entities have spearheaded real estate development, officials made it clear that the subsequent phase of growth will be fuelled by co-investment, private equity participation, and long-term asset management partnerships.

“This is not just about attracting capital, it’s about finding the right partners to help us deliver the scale, complexity, and innovation that Vision 2030 demands,” a senior Saudi official conveyed to delegates in a closed-door session.

As the event concluded, the overarching message was unequivocal: Saudi Arabia is not only prepared for international capital but is actively reshaping the investment playing field in its favour. Echoing the sentiment of collective opportunity, one investor remarked: “The foundations have been laid. Now it’s time to build together”.

After the event, Inside Saudi had the chance to sit down with Rachel Sturgess, Senior Vice President at Tahaluf, who shared exclusive insights into the vision behind Capitals London and its role in linking global capital with Saudi Arabia’s real estate transformation.

Inside Saudi (IS) – Now that Capitals London has concluded, what was Tahaluf’s core objective as organiser?

Rachel Sturgess (RS) – Our priority was to bring Saudi Arabia’s top government and real estate leaders to the UK, and connect them directly with global investors, to advance collaboration and unlock unprecedented opportunities in one of the world’s most dynamic real estate markets. We wanted to move beyond promotional messaging and instead focus on meaningful, solution-oriented dialogue. By putting the right people in the room those with the authority to shape projects, and those with the capital to fund them, we created a powerful foundation for future investment flows.

IS – Why was London selected for this Cityscape Global Investor Programme briefing?

RS – London is a global financial hub and an ideal launch point for our Investor Programme. It represents a gateway to the broader European investment community and houses some of the most experienced institutional allocators of capital. Additionally, MISA maintains a London office, and its team was present to guide potential investors through the investment journey into Saudi real estate. Their presence was instrumental in providing clarity and confidence to first-time investors. Hosting in London also signals that Saudi Arabia is engaging proactively with international markets on their own terms and turf.

IS – Capitals London brought together a high-level Saudi delegation. How significant was their involvement? And what was the strategy behind targeting UK and Europe-based institutional investors?

RS – The event offered deep insights into regulatory frameworks, sustainable housing initiatives, and partnership models. Investors gained direct access to senior representatives from MOMAH, REGA, SRC, Damanat, NHC, PIF, KAFD DMC, Red Sea Global, New Murabba, and the Sports Boulevard Foundation. These weren’t just presentations; they were active strategy conversations, enabling investors to assess the credibility and scale of the Saudi offering.

We curated attendance from 100 top C-suite executives representing leading financial institutions. This strategic focus ensured meaningful engagement with a highly targeted group comprising institutional investors, limited partners, family offices, private equity funds, and investment banks with a combined AUM exceeding $4.4 trillion. Our approach was not about filling the room; it was about quality over quantity. Every conversation had the potential to turn into a real partnership.

IS – What key messages did Tahaluf aim to amplify about Saudi Arabia’s real estate landscape?

RS – We aimed to underscore the message that Saudi Arabia’s real estate sector presents exceptional opportunities for global institutional investors. The Kingdom is actively developing its cities into dynamic centres of opportunity, innovation, and enhanced quality of life. We wanted to highlight that this is not a theoretical pipeline; these are live, investable opportunities, supported by government clarity and private sector readiness.

Capitals London also illustrated how Vision 2030 is not just a vision, but a structured roadmap with mechanisms to deliver. We emphasised the investor-centric reforms such as legal protections, streamlined procedures, economic zones, and incentives that make Saudi Arabia a maturing investment ecosystem with robust returns and reduced risk profiles.

IS – How does this UK investor briefing relate to Cityscape Global later this year in Riyadh?

RS – Cityscape Global, taking place in Riyadh from 17–20 November, is the world’s largest real estate event, bringing together over 172,000 participants across the full real estate value chain from developers and architects to institutional investors, technology providers, and policymakers.

Whilst the event is renowned for showcasing the scale and ambition of Saudi Arabia’s real estate transformation, it also has a truly global dimension, with more than 70 international developers and over 20,000 international attendees represented at last year’s show.

The institutional investor program in Riyadh is carefully curated to provide direct access to strategic projects, regulatory updates, high-level networking, and one-to-one meetings with key stakeholders, including sovereign entities, master developers, and investment authorities. Capitals London served as a powerful preview of this and gave UK and European investors a first look at the scale of opportunity unfolding in the Saudi market and the level of access they can expect at Cityscape Global. While it was a focused, high-level briefing, it offered just a small glimpse of the depth of engagement international investors can expect in Riyadh this November.

All article images used with permission from Talahuf.