Saudi Arabia is undergoing what Elias Abousamra, CEO of Rafal Real Estate, describes as an unprecedented transformation — one that is reshaping not only the economy, but also the Kingdom’s social fabric, urban identity, and global positioning. In this exclusive interview, he explains how Vision 2030 is accelerating a real estate revolution centered around innovation, international collaboration, and modern lifestyle development.
“This is indeed an unseen cultural, social and economic renaissance that we are witnessing in Saudi Arabia,” he says, describing the scale and speed of change currently taking place across the Kingdom.
According to Abousamra, the transformation is deeply rooted in Saudi Arabia’s heritage while embracing a forward-looking vision designed to modernize every layer of society and business.
“It’s driven by mature and profound leadership that has very strong roots into the rich culture and heritage of Riyadh and Saudi Arabia in general, but with a very progressive and modern vision,” he explains.
Real Estate as the Platform for Vision 2030
For Abousamra, the real estate sector sits at the center of Saudi Arabia’s national transformation. He describes the industry not simply as a property market, but as a foundational platform enabling tourism, investment, talent attraction, and quality of life.
“In our industry, in the real estate sector, we see ourselves as the platform for the Vision,” he says.
As Saudi Arabia seeks to attract global investors, expatriates, and international businesses, the need for modern spaces and integrated communities has become increasingly critical.
“You need proper spaces and destinations and experiences to attract foreign investors, tourism, even to integrate locals and expats,” he explains.
Building One Million Homes
Housing development remains one of the Kingdom’s most ambitious targets under Vision 2030. Saudi Arabia aims to dramatically increase home ownership rates while meeting the demands of a growing and youthful population.
“We’re moving on track in terms of home ownership. We have to build 1 million homes by 2030, and I think 20% has been built and delivered already” Elias Abousamra, CEO of Rafal Real Estate
To meet these goals, developers are increasingly forming international partnerships and scaling up operations across the country.
“We are building international partnerships to scale up our operations so we can contribute to this vision,” he adds.
Saudi Arabia Opens to Global Investors
Abousamra believes the Saudi market is entering a historic phase of openness and internationalization, creating major opportunities for foreign investors, developers, and contractors.
“It’s an opportune moment for any international buyer, developer, or investor, to consider Saudi, to start familiarizing themselves,” he says.
He also points to upcoming regulatory reforms designed to make property ownership more accessible for expatriates.
“We are expecting very interesting regulations to be issued to loosen up the home ownership in the near future for expats,” he explains.
The Kingdom’s broader business environment, he says, is also becoming increasingly attractive to international companies looking to establish regional operations.
“We see a lot of businesses not just from the region, from all over the world that are moving to set up in Saudi Arabia because they have the raw materials, they have talent, a favorable tax environment, and, most importantly, subsidies,” he says.
Digitization and the Rise of Smart Real Estate
Technology is also transforming Saudi Arabia’s property sector. Abousamra notes that digitization, tokenization, and regulatory modernization are helping create a more transparent and efficient ecosystem for developers and investors alike.
“In the last five years we saw lots of improvements on digitization and tokenization of real estate,” he explains.
“To build the right ecosystem you need proper regulations and digital infrastructure. So, the government has brought so many improvements.”
From digitized homeowners associations to streamlined sales permits, Saudi Arabia is rapidly modernizing its real estate framework to support long-term growth and investment.
The Rise of Walkable Communities and the “15-Minute District”
One of the most significant lifestyle shifts underway in Saudi Arabia, according to Abousamra, is the move toward mixed-use, walkable urban communities inspired by global city planning trends.
“We’re migrating from the suburban boxy mall to urban retail to the 15-minute district,” he says.
Many of Vision 2030’s flagship mega projects are already adopting this urban planning model, where residents can access daily essentials within short walking distances.
“We are starting to promote walkable districts,” he explains. “Moving from the villa to the apartment to the multifamily community and gated communities with facilities is also a well-established trend.”
Abousamra adds that Saudi Arabia’s younger generations are driving much of this transformation.
“The youth are driving the change,” he says. “We all know Saudi has a majority of population younger than 35 years, so if anything, this tells you about the sustainability and continuity of Vision 2030.”
International Collaboration and Construction Innovation
To support the scale of development required under Vision 2030, Saudi developers are increasingly adopting modular construction methods and forming partnerships with global contractors.
“We are looking into modular construction solutions, many modern methods of construction,” Abousamra says.
He notes that Saudi Arabia is actively encouraging international firms to participate in the Kingdom’s transformation.
“The market is open for international contractors and there are lots of private public partnerships,” he explains.
“We have set forth the platform for international contractors and developers to collaborate with local developers.”
Saudi Arabia’s Global Moment
For Abousamra, Saudi Arabia’s emergence onto the global stage feels like the culmination of decades of preparation.
“It’s as if Saudi was preparing all these years for this movement, and now it went live to the whole world,” he says.
He also believes the Kingdom’s famous hospitality culture is becoming a defining feature of its international business approach.
“The Arab hospitality, which is very famous, is being implemented in business,” he explains.
“We are approaching international investors with open book mentality. We tell them, please come try, no restrictions, try doing business here.”
Combined with rapid advancements in digital governance and business infrastructure, Abousamra says Saudi Arabia is positioning itself among the world’s most competitive investment destinations.
“We’ve come a long way in the digital infrastructure and e-governance, and if you read any report, you will always rank as one of the top five nations in the ease of doing business,” he says.
For Abousamra, Saudi Arabia’s transformation is no longer simply a regional story — it is becoming a global one shaped by youth, innovation, infrastructure, and long-term ambition.
“Saudi Arabia is redefining urban living, investment, and opportunity through one of the most ambitious transformation agendas in the world.”
#EliasAbousamra #RafalRealEstate #SaudiArabia #Vision2030 #SaudiVision2030 #RealEstate #SaudiRealEstate #UrbanDevelopment #SmartCities #HousingDevelopment #PropertyInvestment #ConstructionIndustry #SaudiEconomy #EconomicTransformation #SustainableCities #WalkableCities #DigitalTransformation #Infrastructure #InvestmentOpportunities #MiddleEastBusiness #FutureCities #TourismDevelopment #InternationalInvestment #BusinessExpansion #Innovation #SaudiProjects #PublicPrivatePartnerships #ModernLiving #RealEstateDevelopment #SIMfilms
