Sustainable Real Estate Development to Meet Future Demand in Riyadh’s Hotel Sector
In recent years, Saudi Arabia has witnessed a surge in global interest, driven by its rapid expansion in both tourism and the economy. The Kingdom has adopted an ambitious vision aimed at diversifying its sources of income and bolstering its investment, tourism, and real estate development sectors. Sustainable real estate development is closely linked to the future demand of Riyadh's hotel sector. However, despite the developmental opportunities available in this sector, aligning anticipated hotel expansion with sustainability requirements presents several challenges related to environmental, economic, and regulatory aspects. These challenges underscore the need to enhance resource efficiency, ensure the long-term economic viability of hotel projects, and adhere to regulatory requirements that support sustainability. Therefore, this research aims to provide recommendations that contribute to the sustainability of real estate development to meet the future demand of Riyadh's hotel sector. The paper employs a theoretical and quantitative descriptive approach. The theoretical approach involves analyzing experiences and case studies. The research utilizes a questionnaire that gathers the opinions of a sample of 26 experts in the fields of real estate development, the hotel sector, and the engineering and architectural sectors. The study concluded that sustainable real estate development in the hotel sector rests on three integrated pillars: environmental, economic, and legislative. Finally, the study recommends raising awareness about the use of environmentally friendly materials, implementing environmentally conscious designs, and ensuring that initial and final permits for hotel project plans comply with sustainability principles.
In recent years, Saudi Arabia has witnessed a surge in global interest, driven by its rapid expansion in both tourism and the economy. The Kingdom has adopted an ambitious vision aimed at…
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