“An ambitious vision for an ambitious nation.” That is what the Saudi Arabian government is calling Vision 2030, an initiative focused on three pillars: ambitious nation, thriving economy, and vibrant society. While this vision takes a holistic look at the future of Saudi Arabia, one goal in particular sticks out to Muhannad Awad, the leader of Keller Williams Worldwide’s newest region, KW Saudi Arabia. Part of the vision, he shares, is getting the country’s current homeownership rate of 5% to 13%.
According to Awad, who serves as operating principal for the region, Saudi Arabia is currently the number one market in the Middle East. “You can witness the evolution in residential investing in Saudi Arabia,” says Awad. “The government is also pushing in that direction. The biggest support is coming from them in terms of financing, subsidizing, the interest rate, and giving priority to individuals who would like to own a house.”
With 25 years of experience in the finance sector, 18 of which are real estate-specific, Awad has a particularly keen understanding of the complexities of the Saudi market, and aims to bring KW Saudi Arabia to the number one spot in all of the Middle East.
“The only thing that is missing in Saudi Arabia is the Keller Williams presence. The whole market is looking to see a professional company setting the tone for real estate business,” Awad says. And, now is the perfect time for the region to make its debut, as the market is still in the process of expanding and has not reached its equilibrium point.
KW Saudi Arabia’s launch comes with ambitious goals. The vision is to open between 10 and 15 market centers, with 30 to 40 agents populating each. For year one, Awad and his team are hyperfocused on setting up their business efficiently, transferring knowledge to their staff, and raising awareness of KW within their market. “We have to build it right, and we have to be concentrated on the quality of people,” he says. The first step is setting up three market centers as benchmarks.
Why is Keller Williams the right home to achieve these goals? “With the vision of 2030, the government is shifting to digitizing all kinds of business sectors, and real estate is considered one of the backbones of the economy,” Awad shares. “With the Keller Williams brand, knowledge, structure, mindset, and systems, such a combined module fits perfectly with the 2030 vision: from the solidity of its tech to its emphasis on teaching and learning.”
Awad is ready to get to work, standing in unison with Keller Williams Worldwide’s 50-plus regions. “You can see the whole team across the world, joined in the same culture and same philosophy. It’s really one team with the same goals,” he says.