Nearly 400,000 Square Meters of Mixed-Use Developments Coming by 2027

For PropertyGuru’s real estate news roundup, Riyadh and Jeddah are spearheading a transformative shift in Saudi Arabia’s lifestyle retail sector. In other headlines, Thailand’s Finance Ministry is considering amending tax laws on income from foreign investments to lure Thais to repatriate funds and lift domestic investment. Lastly, the second of two parts in Outlook 2025: APAC’s major residential property markets are facing mixed prospects for the year ahead.

Saudi Cities Pioneer New Retail Paradigm

Riyadh and Jeddah are leading a revolutionary transformation in Saudi Arabia’s lifestyle retail sector, fundamentally reshaping the retail landscape with 394,900 square meters of forthcoming lifestyle retail developments incorporating food and beverage outlets, entertainment options, and dynamic public spaces, all scheduled for 2027 completion, according to Knight Frank’s Riyadh and Jeddah Lifestyle Retail Market Review.

Faisal Durrani, partner and head of Research, MENA, states in Economy Middle East: “Fueled by the transformative ambitions of Vision 2030, Saudi Arabia’s lifestyle retail market has been undergoing a remarkable evolution since 2021, with Riyadh and Jeddah alone adding over 148,400 square metres of new retail space in the last two years.”

Thailand Explores Tax Reform to Boost Domestic Investment

The Finance Ministry is considering amending tax laws governing income from foreign investments to encourage Thais repatriating funds while boosting domestic investment, Bangkok Post reports.

Speaking at the 33rd-anniversary event of One Asset Management yesterday, Finance Minister Pichai Chunhavajira noted Thais earning income abroad are currently required to pay income tax when bringing those funds into the country. He stated he is reviewing this legislation to encourage more Thais repatriating their earnings.

He explained many Thais invest abroad and when those earnings are repatriated, they face taxation. “The taxation of foreign income brought into the country was amended to align with OECD regulations,” said Mr Pichai.

Original Article:

Property Report. (2025). Riyadh and Jeddah are reshaping Saudi Arabia’s lifestyle retail sector; and other news. Asia Property Awards. Retrieved from https://www.asiapropertyawards.com/en/riyadh-and-jeddah-are-reshaping-saudi-arabias-lifestyle-retail-sector-and-other-news/