Advancing in the Middle East

Few countries are in a period of such rapid growth and change as Saudi Arabia. Formally known as the Kingdom of Saudi Arabia, this country has the leading economy in the Middle East, and the royal family sets the tone for the country’s politics and economy. The crown prince, Mohammed bin Salman (MBS), appointed in 2017, has ushered in a series of reforms known as Vision 2030, which are changing the shape of and advancing the country over this decade. Some of his major changes have been to advance women’s rights, such as removing the ban on female drivers in 2018. He has also put into place efforts to diversify the economy and advance technology and tourism. 

MBS has come into the spotlight in the U.S. news for his talks with U.S. President Donald Trump, and most recently, he was brought in to broker negotiations between the U.S. and Russia on the conflict between Russia and Ukraine. He hosted these talks in Riyadh, Saudi Arabia’s largest city.  

As the country is responding to unprecedented reform, IREM representatives Waqar Hasan, CPM^®, and Muhammad Jawad UrRehman, CPM^®, from the UAE, along with IREM HQ team member Leah Misbin, senior director of international programs, went on an exploratory trip to Riyadh to learn more about the local market.  

Regeneration for the community

The Business Year’s 2025 report on Saudi Arabia highlighted that the country’s transformation is about regeneration, citing urban regeneration as a key component. Nowhere is this more obvious than in Riyadh. Large-scale construction projects are underway across the city, focused on expanding and enhancing public and community spaces such as parks and retail complexes.  

An example of this concentration on the community and public spaces is evident at Sedra, a large residential project not far from the Riyadh airport, boasting villas and condominiums of different sizes, schools, community and sports centers, playgrounds, and more. Sedra is a project of ROSHN Group, a mixed-use developer that prides itself on creating high-amenity communities, focused on customization for the client. What makes Sedra unique and shows the direction Riyadh is heading in is that the planned community will be lined with native plants and trees, as well as walking and bike paths. This is historically unheard of in the city, which sprawls out organically, often without sidewalks or ways for pedestrians to easily cross the street.  

IREM representatives visited Solana Holding, a family-owned residential developer and management company. Solana Holding CEO Jamil Al Saleh was interviewed in The Business Year’s 2025 report. He said: “Solana Holding has strategically transitioned from traditional property management to comprehensive lifestyle management.”  IREM learned how Solana Holding takes into account Saudi Arabia’s unique history, culture, and current state to develop the right tenant mix, amenities, and engagement. Concluding the visit to Solana Holding, Hasan presented a seminar on property management financial tools to employees. “It was a pleasure to engage with such an enthusiastic and insightful group,” Hasan said. “I hope they found the training valuable and that the knowledge gained will contribute positively to their professional journey.”   

Retail complexes as a community facet

In Saudi Arabia, retail complexes are the heart of community life. Stemming from the need to escape the extreme heat, these retail centers are a gathering place, especially coming alive after dark, when the blazing sun has set.

During the trip, IREM visited CENOMI Centers, a leading force in retail and community development across Saudi Arabia. CENOMI has entered into an agreement with the IREM UAE Chapter to become a Chapter Founding Partner. This strategic collaboration underscores a shared commitment to advancing real estate management standards, fostering innovation, and creating unparalleled community experiences in the region. The partnership aims to leverage CENOMI’s leadership in retail and IREM’s legacy of education and professional development to deliver impactful initiatives. These will include workshops, certifications, and knowledge-sharing events that empower professionals across commercial, mixed-use, and retail property management sectors.

“This partnership with CENOMI exemplifies how aligning with visionary organizations can elevate our mission to professionalize real estate management and contribute to vibrant, sustainable communities worldwide,” says IREM UAE Chapter President Muhammad Jawad, CPM^®, MRICS.

Cenomi Centers CEO Alison Rehill-Erguven shared this sentiment, stating: “CENOMI is thrilled to serve as a Founding Partner for IREM UAE as it expands its work in the Middle East. As a leading retail real estate operator in the region, we are ready to exchange best practices and combine resources to the benefit of all IREM members.” 

As CENOMI gets ready to launch its newest large-scale project, Jawharat (Jewel) Riyadh, a lifestyle and retail destination, IREM is excited to be available to learn and exchange information on this new important addition to the retail landscape in the city. 

Incorporating local culture

A truly unique property in Riyadh is managed by developer Diriyah Company, named for the historical site of their project. Diriyah is a major tourist attraction in Saudi Arabia. Built on a UNESCO World Heritage Site, it includes the ancient At-Turaif District. 

Embracing Vision 2030, Diriyah is a large-scale construction project, incorporating the historical site into an experience including high-end restaurants, a visitor center, museums, and a hotel. It ultimately will also include retail and luxury residential housing.  

Collaborations pave the way ahead

As part of the visit, IREM collaborated with the Royal Institute of Chartered Surveyors (RICS), Saudi Arabia, to host an education session. RICS, headquartered in London, has more than 130,000 members in 140 countries. Hasan presented on cybersecurity and what it means for a property management company and its data. Asmy Sheriff, MRICS, CQS, LLM, COMP, MBA, BSc, spoke on transforming construction using artificial intelligence-driven innovations for cost, time, and quality excellence. More than 50 real estate industry professionals attended the event. Such collaborations allow IREM to gain visibility in a new market and serve as a model for market entry that IREM will continue to use.  

Consistent with the IREM global strategy developed in 2023 and 2024, IREM will keep making strides to advance in the Middle East. As part of the tactics to move into this market, IREM has started translating key courses into Arabic, with a scheduled rollout in May 2025.

“It’s an exciting time to be exploring this market,” says Misbin. “There is so much energy, enthusiasm, and innovation—so much is happening so quickly in the real estate sector. In just a few years, the landscape will look totally different! 

“This trip further exemplifies how IREM is continuing to position itself as a global leader and bodes well for IREM’s future expansion in the Middle East.”