FORBES´ MADE IN SAUDI ARABIA

Special Feature - Forbes China Magazine – December 2023 | https://www.forbeschina.com

INTERVIEW TOPICS
Eng. Jarallah Al Amrah
CEO Sumou Real Estate Development Company

The Saudi economy entered the COVID-19 pandemic with strong policy buffers and reform momentum. The
authorities responded quickly and decisively to the crisis with a range of fiscal, financial, and employment support
programs that helped cushion the impact of the pandemic on the private sector. What are the biggest challenges and
opportunities that lie ahead in order to achieve the Kingdom’s vision 2030goals?

Since 2007 , SUMOU has raised the standards for excellence in the region’s real estate sector. It has a heritage as a
successful enterprise in Saudi Arabia with a proven track record of reacting to economic and market changes.
Milestones and Highlights. What would you say are the highlights of your operations as well as your growth
strategy in the region?

Every economic shock leaves a legacy. The Covid-19 pandemic is no different. It has roiled financial markets,
dampened global growth, upended traditional business models and threatened the future of globalization. The scars
will be felt for generations. However, the chaos has also given birth to an uneasy optimism about the future. Lessons
learned from the pandemic: How has SUMOU made it through the pandemic by being fast, and thinking digital?

On Innovation: SUMOU promotes state of the art development and construction technologies and research and
development in the with an aim to deliver high quality buildings in record time at reduced cost. NFT, Metaverse, AI,
VR, blockchain, endless new materials, and devices are in a constant state of upgrade: technology’s power over all
economic sectors is stronger and stronger. How should the industry harness this, and how can brands best prepare for
the future?

In the next years we expect a number of mega projects, sprawling hotels, smart cities, regenerative plans and a strong
will from the leadership are helping redefine living for local residents and positioning the country as a top tourism
destination. Prime among the real estate spectrum is residential development, which is a focal point for the country
and has secured a spot in its Vision 2030. Plans to enhance the urban scene and elevating quality of life through
the implementation of the relevant public policies for developing regions and cities.

The world is moving towards the increased adoption of environmental, social and governance (ESG) standards across
all sectors of the economy; How will increased awareness about sustainability affect the sector?

Human Capital: Leveraging a company’s greatest asset. How is SUMOU . creating an ecosystem for finding talent
and allowing it to thrive?

In an era of escalating shareholder and public scrutiny, corporate boards must lead with greater transparency,
efficiency, and expediency than ever before. SUMOU’s definition of Governance

Saudi Crown Prince Mohammed bin Salman received President Xi Jinping in December and heralded “a new era” in
Arab relations after signing a "comprehensive strategic partnership agreement" . Annual bilateral trade
volume between China and Saudi Arabia was worth USD 65.2 billion at the end of 2020.Economic relations
between both countries are becoming more diversified. Substantial Chinese investments increasingly position Saudi
Arabia as a “pivot country” in the Belt and Road Initiative.
SUMOU and China: What are the opportunities that to create investment, research, and technology transfer
partnerships with Asian/Chinese companies and investors?