The TWENTY30

Rising prices and a Saudi real estate boom: Faisal Durrani on Saudi Arabia's soaring housing market

The TWENTY30’s Saudi real estate guru, Faisal Durrani, partner and head of research at Knight Frank Middle East, is back! Faisal joins hosts Lucien and Hanaa to discuss some of the latest research and findings from Knight Frank, the leading consultancy on real estate in the Middle East region, and to give listeners an update on the booming real estate market in Saudi Arabia. There’s been a 38% surge in real estate transactions across all asset classes in the country, and the conversation covers the complex factors driving the housing market, including government initiatives under Vision 2030, the rise in home ownership rates, and the challenges faced due to an increasing number of young Saudis and expats moving to Riyadh. Faisal also provides an update on the hospitality sector in Saudi Arabia as tourism booms, noting the rising hotel room rates and the demand for more diverse accommodations is driving the discussion on the ground. The conversation also delves into the complexities of meeting the housing demand in the face of rapid urbanization and changing cultural expectations among Riyadh's residents.
 
After the conversation with Faisal, the hosts catch up on some of the latest news in Saudi Arabia.

Faris Al-Sulayman, Co-Founder of leading Saudi Solar company Haala Energy, talks renewables and solar growth in KSA

Episode 35! Co-hosts Lucien and Hanaa kick off the episode discussing the recent addition to Lucien's family, and catch-up on Hanaa's recent travels to Saudi Arabia to speak at a CSR Forum in Riyadh, as well as visit her hometown and family in the Eastern Province. 
Then, joining the hosts on the MAINSTAGE is Faris Al-Sulayman, co-founder at Haala Energy, a leading Saudi solar energy company that installs solar power projects for commercial, industrial, and agricultural clients. Faris joins The TWENTY30 for an exclusive conversation about the growth of Haala, the challenges and opportunities in solar power in the Kingdom, and Saudi Arabia’s broader green goals with the Saudi Green Initiative. They also discuss his journey as a first-mover in the solar space in Saudi Arabia, Haala's incubation at KAUST just north of Jeddah in Saudi Arabia, and how the business plans to grow as solar becomes a viable option for commercial and residential clients in the coming decade.
A graduate of Georgetown University with a Masters from the London School of Economics, Faris is active with Haala while pursuing a PhD from LSE in London.
After the discussion, the hosts catch up on some of the latest news in Saudi Arabia, and conclude with a unusual SHOUTOUT to cap Episode 35. 

The 8th FII in Riyadh, Sindalah Island, Herve Renard, and Chinese Tourism...

It's FII week in Riyadh! 📈 That means the who's who of the finance, investment, and business world are descending upon the Saudi capital for Saudi Arabia's largest annual event - the 8th Future Investment Initiative held at the King Abdulaziz International Conference Center (KAICC). 
Co-hosts Dr. Hanaa Almoaibed and Lucien Zeigler talk about the event and discuss some elements of the program and speakers, as well as the surrounding events and vibe of the city as it hosts visitors from around the world. 
Before the DEEPDIVE on FII, the hosts discuss a new NEWS format for The TWENTY30, which allows the hosts more space to discuss and engage on the topics that matter for Saudi Arabia. User and data feedback and input from 33 Episodes prompted the slight modification to the segment, which the hosts note is already significantly more enjoyable for hosts and listeners alike. The TWENTY30 team hopes you agree! 
After discussing FII, in the new format for the NEWS segment, the hosts cover a range of interesting developments in Saudi Arabia, including:
•Sindalah Island is the first Neom project to open doors, and a handpicked selection of guests are getting the first glimpse of the place ahead of FII, according to Bloomberg. 
•Saudi Arabia is setting its sights on the Chinese outbound tourism market as part of its strategy to transform the kingdom into a global tourism hub, according to SKIFT. 
•Roberto Mancini walks away from Saudi Arabia as head coach of the national team after 14 pretty unsuccessful months as coach...
•Ground has officially been broken in Saudi Arabia for what is expected to be the “world’s largest building" - The New Mukaab, part of the new murraba project. 

Lama Khaiyat and the evolving Saudi consultancy ecosystem

Lama Khaiyat, CEO of Awtada, a boutique Saudi consultancy and public policy advisory firm, joins hosts Hanaa and Lucien to discuss the world of consulting in Saudi Arabia and the rapid growth of her firm. 
The consultancy market in Saudi Arabia reached $3.2 billion in 2023. The market grew by 17.5% in 2022, and is expected to grow at a compound annual growth rate (CAGR) of 23.5% through 2029. But recently, multiple outlets have reported of a "recalibration" of Vision 2030 projects that involves a reprioritization of spending, putting a pinch on some of the larger consultancies operating in the Kingdom. But the recalibration is an opportunity for boutique consultancies to step up, Khaiyat tells the TWENTY30. 
Lama shares her journey from Oxford to the Big 4 and how she felt that her best path toward growth and success was through founding her own firm and providing a Saudi-first lens for clients. 
After the conversation with Lama, the hosts get to some of the latest news on Saudi Arabia, and conclude with SHOUTOUTS to the exceptional people driving the Kingdom's transformation. 

Saudi women in the Kingdom's workforce, green hydrogen, Will Smith, and Atlético Madrid

In Episode 32, co-hosts Hanaa Almoaibed and Lucien Zeigler share thoughtful feedback from Episode 31 and the TWENTY30's exclusive conversation with entrepreneur Iyad Aldalooj, which elicited tons of comments and excitement from many in and outside of Saudi Arabia. Then the hosts get to a DEEPDIVE on Saudi women in the workforce, and how the labor market transformation in Saudi Arabia has significantly advanced opportunities for women to work and pursue careers in various fields and sectors throughout the Kingdom.
 
The hosts conclude with the latest news on Saudi Arabia, including:
•The Saudi stock market is struggling after a summer rally, with the Riyadh bourse enduring its worst fourth-quarter start in years as regional tensions soar.
•Will Smith is set to give a talk on the opening day of the sophomore edition of the Saudi Film Confex, taking place in Saudi Arabia’s capital of Riyadh between Oct. 9-12.
•Saudi Arabia is preparing to make a multibillion-dollar bet on hydrogen and will launch a new company to produce the much hyped low-carbon fuel
•Saudi Arabia has consolidated its branding push with Atlético Madrid by paying for naming rights to the Spanish club’s stadium for the next nine years. Atlético, which has been sponsored by Saudi state-owned Riyadh Air since last season, said Wednesday that its Metropolitano stadium will be known as the Riyadh Air Metropolitano henceforth until 2033.
 
The hosts conclude as always with the SHOUTOUTS segment, and in this episode, combine their shoutout together to wish a very important person in Saudi Arabia well after surgery. 

Iyad Aldalooj, CEO of Penny Software and Ex-Careem exec, talks entrepreneurship, tech, and more

Iyad Aldalooj started Penny Software after serving as an executive for Careem, the mobility startup which exited for $3 billion to Uber Technologies.
Penny is now one of the Kingdom's fastest-growing startups with SAR 1 billion in transactions in 2023 and customers worldwide. In an exclusive interview and conversation with hosts Hanaa Almoaibed and Lucien Zeigler, Iyad shares his journey, which begins in the Eastern Province in Saudi Arabia. After studying at the University of Nebraska in the United States, he fell in love with entrepreneurship. When he moved back to the Kingdom, he joined Careem, where he was an executive when the company exited. He then became one of the inaugural members of the Saudi Leadership Society and the Misk 2030 Leaders Program. Now, with the venture-backed Penny Software, he tells Lucien and Hanaa that despite his early success with Penny, he's committed building a solution for the long run while contributing to the prosperity of Saudi Arabia's Vision 2030 and its drive to create a technology ecosystem from the ground-up. The transformation happening in the Kingdom has changed the mindset of Saudi Arabia's tech-enabled youth, creating a vibrant landscape for disruptive technologies to thrive. Iyad shares his journey and experiences to-date, his stories of success and challenges with venture capital fundraising in Saudi Arabia, and much more with The TWENTY30 in this exclusive interview and conversation.
After the conversation with Iyad, Hanaa and Lucien catch up on some of the latest news from Saudi Arabia. 
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You can also email the show’s hosts with their first names (Lucien @TheTWENTY30.com) or (Hanaa @thetwenty30.com) or email Hosts @ TheTwenty30.com.
 
The TWENTY30 Podcast is a production of The TWENTY30 Media Group, LLC. 
 
©The TWENTY30. All rights reserved. 

The Luxury Market in Saudi Arabia

Episode 30! 🤩 Hosts Hanaa and Lucien kick off the show catching up on a busy week with tons of travel ahead. In this episode, Hanaa does a DEEPDIVE into Saudi Arabia as a luxury market and destination for fashion and luxury goods. A recently-released report titled 'New Codes of Luxury in Saudi Arabia' by the TOGETHER group and the Future Laboratory group explores the evolving luxury market in Saudi Arabia, focusing on affluent consumers, the impact of women entrepreneurs, and the increasing significance of youth in shaping trends.
 
The report is loaded with interesting statistics: 88% of affluent KSA nationals also believe it is important that luxury brands contribute to the empowerment of women in the region; 91% of affluent Saudis mention that convenience is important to them when considering a luxury purchase, and so much more. The hosts discuss some of the key themes such as authenticity, innovation, technological integration, and the balance between global trends and local culture are discussed. It is a fascinating look at the spending habits of Saudi high-net-worth individuals, emphasizing the importance of personalized offerings and bespoke experiences.
 
It also delves into the rise of women's economic influence due to Vision 2030, highlighting their growing role in the workforce and entrepreneurial landscape. For the youth, the report underscores their digital savviness and preference for luxury experiences, indicating a dynamic shift in consumer culture. Concluding the episode, Dr. Hannah and Lucien emphasize the transformative power of the luxury sector in shaping Saudi Arabia’s future, echoing the report’s call to embrace authenticity and innovation while respecting heritage.
 
The hosts round out episode 30 with a discussion of some of the latest news on Saudi Arabia, including:
 
•Saudi Arabia's Ambitious Satellite Plans (and a hope that its work will lead to better in-flight internet…)
 
•Saudi Arabia's Nuclear Program Developments
 
•WeWork Founder Expands to Saudi Arabia
 
•Topgolf and Callaway's Expansion in Saudi Arabia and a changing golf landscape in the Kingdom.
 
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Spotify:
https://open.spotify.com/show/0uuKNWrgbQPMBIx3XY6YGU
 
Apple Podcasts:
https://podcasts.apple.com/us/podcast/the-twenty30/id1742574206
 
YouTube:
https://www.youtube.com/@thetwenty30
 
Get episodes and exclusive content delivered to your email inbox free:
https://thetwenty30.com
 
 
You can also email the show’s hosts with their first names (Lucien @TheTWENTY30.com) or (Hanaa @thetwenty30.com) or email Hosts @ TheTwenty30.com.
 
The TWENTY30 Podcast is a production of The TWENTY30 Media Group, LLC. 

Saudi National Day 2024: Ghada Almuhanna joins to discuss the rich history and traditions

A special episode to celebrate Saudi National Day on Monday, September 23! The TWENTY30's special guest contributor, Ghada Almuhanna, a visual anthropologist who is widely followed through her Instagram account documenting interesting Saudi photos and art, joins to talk all things Saudi National Day on the 94th anniversary. 
Saudi National Day celebrates the formal unification of the Kingdom in 1932. Ghada joins hosts Lucien and Hanaa for a lively and fun discussion of the evolution of National Day celebrations, how patriotism is expressed uniquely across Saudi regions, and the recent tradition of officially taking the day off since a royal decree in the 2010s. The conversation also delves into the joyous public displays, visual competitions among companies, and the heartwarming cultural practices that come to the forefront during this national holiday.
The conversation also includes a lively debate over the best dates in the Kingdom...
The hosts conclude the episode as always with SHOUTOUTS.
Subscribe for free wherever you get your podcasts:
 
Spotify:
https://open.spotify.com/show/0uuKNWrgbQPMBIx3XY6YGU
 
Apple Podcasts:
https://podcasts.apple.com/us/podcast/the-twenty30/id1742574206
 
YouTube:
https://www.youtube.com/@thetwenty30
 
Get episodes and exclusive content delivered to your email inbox free:
https://thetwenty30.com
 
 
You can also email the show’s hosts with their first names (Lucien @TheTWENTY30.com) or (Hanaa @thetwenty30.com) or email Hosts @ TheTwenty30.com.
 
The TWENTY30 Podcast is a production of The TWENTY30 Media Group, LLC. 
 
©The TWENTY30. All rights reserved. 

Hassan Albalawi, founder and CEO of Saudi startup success story WakeCap, talks construction, tech, and much more

From Tabuk, a mid-size city in Saudi Arabia's northern region, to a PHD from Duke University and now founder of one of Saudi Arabia's most successful startup companies, Dr. Hassan Albalawi's incredible journey represents a successful investment by Saudi Arabia into the promise of its citizens. In Episode 28, Dr. Hassan sits down with The TWENTY30's Lucien Zeigler and Dr. Hanaa Almoaibed for an exclusive interview and conversation to discuss the genesis and growth of WakeCap, an innovative and fast-growing construction technologies company that allows employers to monitor the safety and productivity of workers on the job site. WakeCap is scaling and expanding quickly, with 100 employees and operating partnerships with some of the largest construction companies in the world, including Aramco, Bechtel, and many others. WakeCap's solutions are now the go-to for companies seeking to protect and incentivize their employees and boost productivity to get projects completed safely. The company recently acquired a Silicon Valley-based startup in July 2024, and is using that investment to create a new R&D center for the company in the center of America's innovation capital. Now, it's expanding beyond the Middle East region, working in New York and elsewhere in one of the most significant exports of Saudi-made technologies in the Kingdom's history.
Hassan is the eldest in a family of 14 children. His first time on an airplane was as a teenager to travel to the United States for college and graduate school with limited English. When he left the U.S., he did so with a PHD in Engineering from one of top 10 universities in the country, and was ready to begin his journey as an entrepreneur. Hanaa and Lucien ask him about his experiences in the U.S. before diving into his journey as a Saudi startup founder years before the Kingdom began making huge investments into technologies and developing its ecosystem. The hosts also ask Hassan about the opportunities and challenges in the construction sector in Saudi Arabia and the GCC region, the development of entrepreneurship in Saudi Arabia today, and the future of WakeCap as a potential unicorn in the coming years.
After the conversation, Dr. Hanaa and Lucien conclude with SHOUTOUTS. Dr. Hanaa's Shoutout is to the recently-passed Safeya Binzagr, famed Saudi artist who inspired many with her books and museums long before the Vision's reforms. 
Lucien's Shoutout is to Younis Altewejri and Francesco Luigi Carusi, founders of The Rustic Bakery in Riyadh, which was recently shortlisted for the Riyadh 2024 Time Out awards. 
***
The TWENTY30 is now the leading bi-weekly podcast on Saudi Arabia in English! Our founders thank everyone for subscribing and following as we de-code Saudi Arabia’s rapid transformation in English and share stories of the changemakers playing crucial roles in the Kingdom's changes. Subscribe for free wherever you get your podcasts: Spotify: https://open.spotify.com/show/0uuKNWr... Apple Podcasts: https://podcasts.apple.com/us/podcast... YouTube:    / @thetwenty30   Get episodes and exclusive content delivered to your email inbox free: https://thetwenty30.com You can also email the show’s hosts with their first names (Lucien @TheTWENTY30.com) or (Hanaa @thetwenty30.com) or email Hosts @ TheTwenty30.com.   The TWENTY30 Podcast is a production of The TWENTY30 Media Group, LLC.    ©The TWENTY30. All rights reserved.

Riyadh Season is so back

Riyadh Season, a globally unique and dynamic annual series of events in Saudi Arabia, is back for 2024-2025. It's *so* back -- and this year is likely to be the best yet.
Lucien leads the episode's DEEPDIVE segment on the season, now well-established and evolving with new offerings each year, includes a diverse range of activities such as theme parks, concerts, pop-up restaurants, sports events, and fashion shows across multiple venues in Riyadh. Some key highlights for this year include the introduction of notable sports events like tennis and boxing matches, UFC, elite soccer games, and fashion showcases by designers like Elie Saab. Dr. Hannah and Lucien highlight some of these events. Lucien emphasizes the extraordinary nature of Riyadh Season, describing it as a 'tradition' that is constantly changing and improving, reflective of Saudi Arabia's dynamic evolution.
We encourage listeners to check out the full 294-page booklet on Riyadh Season events and explore the variety of free and paid activities available. The DEEPDIVE segment couldn't possibly conclude without Hanaa making sure that everoyne knows that other upcoming seasons are happening too, including in her beloved home of in the Eastern Province. 
The hosts conclude with top news items from the week, including:
•A discussion of solar and renewables in Saudi Arabia. The Saudi energy company ACWA Power has secured SAR9.7bn (US$2.6bn) in financing for the construction of three large-scale solar PV power plants in Saudi Arabia
•A new investment law in Saudi Arabia. On August 11, 2024, the Kingdom of Saudi Arabia unveiled a new Investment Law to enhance attraction of international investments and equality between domestic and foreign investors. 
•Wild thunderstorms and rain in Jeddah. Saudi Arabia was struck by thunderstorms and flash flooding on most of its Red Sea on Friday with footages on social media showing roads inundated and cars stranded in floodwater.
•The growing Saudi fintech ecosystem. Minister of Finance Mohammed Al-Jadaan said the number of fintech companies in Saudi Arabia reached 224 by the end of Q2 2024, surpassing the Financial Sector Development Program's (FSDP) target of 168 companies for the same period.
SHOUTOUTS:
In the episode's SHOUTOUTS segment, highlighting exceptional Saudis or others driving change in the Kingdom, the hosts draw attention to:
•Noah Alireza, CEO of Golf Saudi, for what he's doing growing the game in the Kingdom of Saudi Arabia as LIV GOLF announced its first tournament in Riyadh. 
•Abdulrahman Al-Qurashi, who won the gold medal at the Paris 2024 Paralympic Games.
Subscribe for free wherever you get your podcasts:
 
Spotify:
https://open.spotify.com/show/0uuKNWrgbQPMBIx3XY6YGU
 
Apple Podcasts:
https://podcasts.apple.com/us/podcast/the-twenty30/id1742574206
 
YouTube:
https://www.youtube.com/@thetwenty30
 
Get episodes and exclusive content delivered to your email inbox free:
https://thetwenty30.com
 
 
You can also email the show’s hosts with their first names (Lucien @TheTWENTY30.com) or (Hanaa @thetwenty30.com) or email Hosts @ TheTwenty30.com.
 
The TWENTY30 Podcast is a production of The TWENTY30 Media Group, LLC. 
 
©The TWENTY30. All rights reserved.