Prince Al-Waleed bin Talal bin Abdul Aziz Al Saud of Saudi Arabia holds one of the world’s most successful international holding companies named Kingdom Holding Company, he is also one of the major share holders of Citigroup. The prince has been declared the smartest and most creative investor in the world according to Forbes magazine, which means his opinion matter when it comes to investments.

The prince has now decided to invest in the real estate market of Saudi Arabia and does not wish to invest in the financial sector in near future as he seems to be satisfied with his investment in Citigroup. In a recent interview he mentioned that the real estate market of Saudi Arabia has more potential than the real estate market of Dubai. The supply has over taken the demand in Dubai real estate market, whereas the demand in the real estate market of Saudi Arabia is way beyond the supply. According to his research the population growth in Saudi Arabia of locals and foreigners is increasing day by day. Almost every multi-national company of the world is present in the Saudi market.

With the view that the real estate market in Saudi Arabia is different and has opportunities, the prince will invest in the two huge real estate projects in Saudi Arabia with an investment of $30 Billion. These projects will be carried out in Jeddah and Riyadh, the two major cities of Saudi Arabia. He wishes to invest in the real estate market of Saudi Arabia because there’s no major transformation in these two cities over the years. He talked of his desire to build the highest tower of the world in Jeddah (just imagine, a tower taller than Burj Al-Khalifa). According to him the project is in the final stages of its commencement. Whereas in Riyadh a huge housing project of at least 12,000 units with the capacity of 150,000 people will be set off. He believes that the gap between the demand and supply in the real estate market of Saudi Arabia will result in the success of these projects.