realestate

WeWork Founder's $293M Saudi Real Estate Partnership Revealed

WeWork's former CEO launches Flow, a new venture with Saudi real estate investment secured.

T
o meet growing demand, Saudi Arabia must construct over 100,000 new homes annually until 2030. Companies like Flow can help fill this need by offering attractive housing options to foreign workers and younger Saudis entering the workforce. Typically, villas are the preferred choice of residence in Saudi Arabia, reflecting a cultural preference that has historically viewed apartment living as less desirable. This is evident in the absence of upscale apartment complexes found in other Gulf cities like Dubai and Doha. As social norms evolve, more young professionals are leaving their parents' homes after marriage, a trend that's gaining momentum over the past seven years.

WeWork founder Adam Neumann in Saudi Arabia with real estate investors.