Dubai: The developer behind Saudi Arabia’s most ambitious new ‘city’ project and Sultan Bin Sulayem of DP World in Dubai feature among the most influential names in real estate today from the region.
Nadhmi Al-Nasr, CEO of NEOM city project in Saudi Arabia, has a mandate to recreate the urban landscape in the kingdom. To be built in multiple phases, NEOM will bring in concepts never before tried in the region, and all of which will be done on sustainable built practices.
As for Bin Sulayem, apart from helming DP World, he is also Chairman of Virgin Hyperloop One, mandated with changing the way public transportation proceeds over the coming decade or two.
There is also a spot for Reem Al Hashimy, UAE Minister of State for International Cooperation and Director General of Expo 2020.
They along with 17 others feature in Cityscape Intelligence Real Estate Power List, the first such compilation brought out by the property industry platform. "This Power List puts the spotlight on influential industry figures who have either shaped the Middle East market these past 12 months, or shown exceptional resolve to rise above the formidable challenges of a disruptive year," said Chris Speller, Group Director of Cityscape, Informa Markets.
"The response has been overwhelming and is a real testament to our industry’s positive attitude throughout a year of uncertainty.”
Others in the list include Mohammed Ibrahim Al-Shaibani, Chairman of Nakheel; Emad Azmy, President and Vice-Chairman at the construction giant ASGC Group; Alain Bejjani, CEO of Majid Al Futtaim; and Hussain Sajwani, Chairman of DAMAC.
For the first phase, the developer is looking at around 2025 for completion.
Overall development costs for the City are likely to be around $500 billion and over.