The Future Investment Initiative (FII) was established by the Public Investment Fund of Saudi Arabia. In October 2017, they unleashed “Vision 2030“, a plan laying out the future of Saudi Arabia, as they envision it. This event was attended by business leaders of all sectors and government officials from around the world who were open-minded to hearing about potential investment opportunities. Highlighting Saudi Arabia’s attributes including, but not limited to infrastructure, energy, banking, education, innovation, etc., the purpose is to encourage participation by way of public and private investment globally, generating sustainable and lasting returns, with complete transparency. This year’s 3 day conference took place on October 29-31. Last year, attendance was significantly diminished due to the Saudi government’s alleged involvement in the October 2, 2018 killing of Saudi journalist, Jamal Khashoggi in Istanbul, Turkey. Interestingly, for this year’s event, the majority of those absent in 2018 returned.
Given the FII’s compelling story and aside from the news surrounding the Saudi government’s alleged role in Jamal Khashoggi’s death, where do you think the value or opportunities for real estate investors in Saudia Arabia may lie? AND What sectors of real estate, in particular stand to benefit the most? AND Do you believe there is a downside to investing in real estate projects there?