- Hines will launch operations in Saudi Arabia in 2026, focusing on industrial, office, and mixed-use projects.
- The firm is opening a Riyadh office and relocating senior executives, signaling a long-term regional commitment.
- Saudi policies boosting development—such as land taxes and rent freezes—create new opportunities for global firms like Hines.
Expanding into the Gulf
Bloomberg reports that Hines, a Houston-based real estate firm managing $92B in assets, is entering Saudi Arabia. The move reflects growing interest in the Gulf’s booming property sector.
The company will open a new office in Riyadh in early 2026. It is also hiring local staff and relocating executives to the Kingdom.
Hines will focus on industrial, office, and mixed-use developments. These sectors are seeing major growth across Saudi Arabia.
Riding Policy Tailwinds
Saudi Arabia is making it easier for developers to build. For example, the government recently imposed a 10% annual tax on vacant land in key areas. It also introduced a five-year rent freeze to keep housing affordable.
As a result, developers now have greater incentives to build. This creates more opportunities for firms like Hines to invest and develop.
“Establishing a stronger presence in the region allows us to bring our global expertise in placemaking and sustainable innovation,” said Laura Hines-Pierce, co-CEO of Hines.
Leadership in the Region
Hines’ Middle East operations will be led by Steve Luthman, the global head of real estate. Meanwhile, Chief Investment Officer David Steinbach will continue to manage investment strategy across the region.
This expansion builds on Hines’ existing presence in the Gulf. In 2020, the firm opened a Dubai office as that market began to recover from a long slump.
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Global Firms Eye the Gulf
Hines is not alone. Global investors are flocking to the region. Brookfield, Goldman Sachs, and Singapore’s Mapletree Investments have all recently expanded into the Gulf.
Notably, these moves reflect the region’s appeal as a long-term investment destination.
Looking Ahead
Saudi Arabia is investing billions into mega-projects like Neom and King Salman Park. These developments are transforming the real estate landscape.
By entering now, Hines positions itself to play a key role in this transformation. As one of the world’s top developers, its presence adds credibility to the Kingdom’s ambitious vision.
