As per a report, Emaar is strategizing to develop expansive residential developments within Saudi Arabia.

According to Bloomberg, Mohamed Alabbar, the Founder and Managing Director of Emaar Properties, is currently engaged in discussions with Saudi Arabia's housing ministry to potentially create substantial mixed-use developments. Emaar Properties holds the distinction of being the largest developer in Dubai.

If an agreement is reached with the ministry, the developer is likely to commence work on a housing project consisting of 4,000 units, as reported by Bloomberg.

Mohamed Alabbar stated, "We are in earnest discussions with the Ministry of Housing regarding potential collaboration."

According to real estate consulting firm Knight Frank, Saudi Arabia has announced ambitious plans, including the construction of 660,000 houses, 289,000 hotel rooms, 6 million square meters of office space, and 5.3 million square meters of retail space.

Despite a notable surge in construction activity within the kingdom, Alabbar has urged Saudi Arabia to consider providing subsidies to developers in cases where projects do not meet the predetermined standards. As per the report, Alabbar remarked, "Some of these sites are undeveloped, and it may take five to seven years for a developer to achieve a satisfactory return, such as eight percent, for example. In such cases, the government should consider supporting developers by making up the difference, say, if they earn only four percent, the government could provide an additional payment to make it five percent."