Saudi Arabia - Knight Dragon, a leading international property developer, is set to open its office in Saudi capital Riyadh in the fourth quarter as part of its regional expansion plans.

The company is also seeking strategic patrnership opportunities in UAE, Qatar and Middle East.

On its Saudi foray, Knight Dragon said the kingdom was now a clear global leader in visionary infrastructure projects with plans to invest hundreds of billions of dollars over the next decade.

"Just looking at NEOM alone shows the scale of the ambition of the Saudi Arabian leadership. Valued at $500 billion, it will be a 26,500 sq km development stretching across the borders of northwest Saudi Arabia into Jordan and Egypt," said Sammy Lee, the Vice Chairman of Knight Dragon.

"Expected to be complete by 2030, it will be a development almost the size of Belgium and comprises four megacities including Sindalah, Trojena, Oxagon and the LINE," stated Lee.

"Close to 7% of Saudi Arabia's GDP comes from real estate, making it a critical sector that underpins many others. As the Saudi economy diversifies, the goal is to double the sector's contribution to GDP to 10% by 2030," he added.

Lee pointed out that pioneering in property construction and value-creation are central to Knight Dragon.

"We are entrepreneurial, creative-spirited makers of places who bring new ideas and set new standards for modern living. Being the first company to tokenise an entire building in Central London fits exactly with our bold vision for the global property industry," he stated.

"As Saudi Arabia continues its world-leading development and creates new global hubs, backed by plans for an exciting new airline, NEOM Airlines, Knight Dragon seeks to add value and skill where we have capability," said Lee.

"Core to our capability is our pioneering experience in building tokenisation, modular technology and next generaXtion lightweight concrete technology. We are confident our experience and skill in these areas will be of great to value to Saudi Arabia, UAE, Qatar and the entire Middle East as the region turns vision into reality and achieves its goal of building the future," he added.

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