Global economic experts and banking executives will join senior leaders from Saudi Arabia to discuss the impact and opportunities the “Saudi Vision 2030” will generate at the Euromoney Saudi Arabia Conference in May.

With international interest in Saudi Arabia’s plans at an all-time high following the announcement of the “Saudi Vision 2030” that seeks to minimise the kingdom’s dependence on oil and diversify the economy, this year’s conference will be the most global edition in its 11-year history.

The conference takes place on May 3 and 4 in Riyadh.

Major financial institutions are closely following the “National Transformation Plan,” which details the government’s plans to enhance efficiency, boost economic growth, expand the private sector and generate jobs and opportunities for young people, a statement said.

Mohamed Hamra-Krouha, partner, head of banking and projects, Clifford Chance, who will be speaking at the conference, said: “So far in 2016, we have seen an increase in the number of companies looking to tap international and domestic markets in order to refinance, both to manage current economic pressures caused by low oil prices and also to prepare for the structural changes that we anticipate. The Euromoney Saudi Arabia Conference will provide an important opportunity for different companies from across a range of sectors to come together and analyse this key moment as the kingdom shifts to a post-oil economy.”

The conference will also see the launch of new original research looking at key sectors in the kingdom.

Colliers International, a leading global real estate services organisation, will reveal the findings of its latest real estate research paper.

The paper, which examines the changing dynamics of the retail sector in the kingdom, pays particular attention to recent significant growth in Riyadh, Jeddah, Dammam and Al Khobar, and will examine best practices between mall developers and retailers in the country.

One of the key findings is that tourism spending is an important factor in boosting the overall spending in retail malls, which in turn is driving demand for retail space.

According to Colliers Analysis and data from MAS, it is estimated that tourist spending comprises 10-20 per cent of the total spending in retail malls for cities like Jeddah and Dammam Al Khobar.

Imad Damrah, managing director KSA, Colliers International, said: “We are seeing significant changes in key industries in Saudi Arabia, which in turn have a knock-on impact on other sectors. This is creating a very positive dynamic for economic development in the kingdom, and we are very pleased to be able to present original research into one key area at The Euromoney Saudi Arabia Conference.”   

The key findings will be reviewed during a panel discussion on real estate on the second day of the conference.

Other topics during the panel will include pricing, demand, real estate regulation, and the impact of the changing economy on new investment structures in the kingdom. – TradeArabia News Service