Liwan CEO: Market accelerating, land fees unlock potential partnerships

Abdulrahman Al-Duhaim, CEO of Liwan Real Estate Development, highlights the accelerating momentum seen in the Saudi market, which paves the way for ample opportunities

Liwan Real Estate Development Co.’s CEO Abdulrahman Al-Duhaim stated that the Saudi real estate market is witnessing rapid development. This in turn unlocks major opportunities for developers, alongside parallel challenges, enabling the delivery of high-quality projects at competitive prices and reasonable costs.

However, this drive necessitates building alliances and attracting expertise that align with the objectives of Saudi Vision 2030, he added in an interview with Argaam on the sidelines of Cityscape Global 2025.

Further, the decision to halt annual increases on rental spaces is a regulatory step that contributes to enhancing confidence in the local real estate market, the top executive underlined.

He explained that stabilizing rent increases limits excessive price hikes by landlords seeking to maximize returns and helps achieve reasonable price stability. This serves the interests of both landlords and tenants, while also enhancing the quality of services offered within leased assets.

The white land fees system, according to Al-Duhaim, is deemed key in achieving market balance. Previously, land prices appreciated while large undeveloped areas remained idle, which effectively froze wealth and hindered its economic role.

He confirmed that these fees incentivize landowners to develop their properties and launch quality projects that support supply-demand balance and meet Riyadh’s future needs, noting that developers view this new system as an opportunity to enter development partnerships with landowners.

Regarding the impact of foreign ownership, Al-Duhaim stated that regional and international experiences, such as in the UAE, Turkey, and Egypt, have shown that clarity in ownership regulations helps create new demand and attract more niches.

Developers in Saudi Arabia, including Liwan, have begun developing projects that appeal to new customers from outside the Kingdom in terms of lifestyle, unit count, and property spaces, catering to both Saudis and non-Saudis, the top executive pointed out.

At present, Liwan’s backlog totals close to SAR 6 billion, while its investment portfolio exceeds SAR 10 billion — allocated for land investments and future acquisitions. Moreover, the Saudi developer has joined forces with some banks and financial institutions in the run-up to entering new real estate projects.

This year, Liwan’s focus is limited to Riyadh. However, it plans to explore opportunities in other cities across the Kingdom starting in 2026, the CEO added, highlighting the company’s plan to develop 10,000 residential units over the next five years.

The Saudi market, according to the top executive, is one of the most promising markets for developers capable of providing high-quality real estate products that meet rising demand, especially amid the transformation seen in Riyadh. In the coming period, the market attractiveness is likely to persist, thanks to the expansion of high-quality projects and the growth of the investor and user base.

Al-Duhaim added that Liwan is one of the developers specialized in establishing mixed-use complexes on areas starting from 50,000 square meters (sqm). Its goal is to deliver integrated neighborhoods that include commercial, residential, tourism, hotel, and entertainment uses.

Riyadh is currently seeing high demand for quality projects that offer a lifestyle based on access to services within a five-minute walk, which the market requires given the congestion and the escalating demand, he noted.

Liwan leverages more than 25 years of experience outside the Kingdom in developing such modern communities and now seeks to bring these successful models to the Saudi market.

During Cityscape Global 2025, the Saudi developer is showcasing two real estate projects. The first, Liwan Livin, spans approximately 45,000 sqm, with built-up areas exceeding 200,000 sqm, comprising 616 units.

The project’s completion rate reached about 50%, with 100% of the structural works and about 20% of the finishing works done. It is targeted for delivery by the end of 2026, the CEO revealed.

Roughly 70% of the project’s units have been sold for approximately SAR 1 billion. The remaining units (valued at around SAR 500 million) are anticipated to be sold within the next three months.

As for the second project, the top executive mentioned that it was acquired prior to the last quarter, featuring a land area of about 150,000 sqm.

Liwan is currently coordinating with the relevant authorities, including the Royal Commission for Riyadh City (RCRC), to secure the required permits for developing nearly 2,500 units designed for hotel, office, administrative, commercial, educational, and residential uses.

Speaking of the company’s projects, Al-Duhaim described demand for quality projects in Riyadh as “extremely high”, noting that Liwan targets high financial capacity segments of customers.

He cited data from the Ministry of Municipalities and Housing (MOMAH) and the Real Estate General Authority (REGA), indicating a need exceeding 200,000 housing requests in Riyadh, reflecting a clear supply-demand gap.

The 50% completion of the Liwan Livin project’s concrete structure, besides the 70% sale of units, is evidence of strong demand, the CEO stressed, expecting that raising foreign ownership caps will underpin demand and attract new users.