Businessman and TV personality Kevin O’Leary predicts that Saudi Arabia will have a strong growth in real estate investment over the next five years.
#SaudiArabia #KevinOLeary
#SaudiArabia #KevinOLeary
Category
🗞
NewsTranscript
00:00I know you don't have a crystal ball, but where do you see the kingdom in about five years from now?
00:05I think it's going to get a lot more investment in real estate.
00:09There seems to be a pretty big opportunity there.
00:11Investors like real estate.
00:12It's a hard asset.
00:15The challenge in developing real estate anywhere, in any region, are the permits, access to water and power.
00:22This is a third of our portfolios in real estate.
00:26And we're constantly dealing with the pressures of trying to find locations where you have power and you can get permits and you have access to people that can build and provide the engineering and everything else.
00:37And so I think in the planning for Saudi, what was done right is check the boxes on all those things.
00:43I mean, you can't do it without power, and there's plenty of it.
00:47And you need locations where you can get permitted.
00:50And the government's done a good job in pointing that out, that they're ready to provide that.
00:55So I think it's a pretty, and this takes decades to actually work out, and I think it's very positive now.
01:00That's why you're seeing a lot of interest in infrastructure funds and in real estate investors to go check it out.