GUEST COLUMN
The Movement Of Saudi Arabia–A New Global Era By Natasha E. Feghali
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his is a short story about three women on a road trip to Saudi Arabia to check out what all the hype is around this newly “open” country and what it has to offer investors and professionals. Next is something I never thought I would say in my lifetime! However, at 38 years old, myself and two other women (all Western), drove through Saudi Arabia to get a better grip on the real estate market and any business opportunities that are creeping in. Locals are friendly and want change. They ask many questions and one that stood out during each question period was: “Are you here for business?” Our initial intention was to travel as professionals and see what opportunities arise when you have boots on the ground; however, this was quite the opposite of what we discovered. Saudi Arabia is an exceptionally large mystery to most people in most countries. Technically “closed” for many years, and under the former King, the country was not exposed to new and innovative methods and ideas that the global economy is using to accelerate in every area from education to healthcare to green energy. Under the leadership of MBS (Mohammed bin Salman Al Saud) the country has become a haven for investors and entrepreneurs alike. Anywhere I went I could see people sitting in coffee shops, talking business and investing. Saudi Arabia is the third largest country in Asia and has a very progressive and willing population of people who have adapted to the changes now and will also adapt to those on the horizon. With the Ministry of Investment incubating foreign investors and entrepreneurs, there is much to brag about when it comes to Saudi Arabia. As I write this column, I am staying in Kuwait (but return home to Windsor in June and I work out of three provinces in Canada) — many young entrepreneurs across the MENA region (Middle East, North Africa) are taking their businesses and business ideas to “Saudi” as it is commonly known. While there I met young Canadians with medical APPS who were getting to pitch their idea to an NGO (Non-Governmental Organization) on the ground.
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Three’s company! From left: Natasha Feghali from Windsor poses with Lisa Edwards from New York, USA, and Susan Fraine of Manchester, U.K., in Taif, Saudi Arabia.
Along with the other two women I am travelling with, we are all real estate investors. Combined, we have properties across Canada, the UK and Turkey. For us it is a game of Monopoly and which country is offering the best returns. Saudi is quickly becoming that beacon of hope with the developments across the coastline, as well as the NEOM City of the Future (a fully automated mega city). After three days between Jeddah, Taif and Al Bahah, and a meeting with investment firms from Jordan and talking to delegates from NGOs — I realized that Saudi is a growing incubator for the global market. There was not a second that I did not feel the progress of Saudi. With 10 million visitors in 2019 and a double projection for 2022 in both personal and professional travel, Saudi is preparing to be a giant in the future of entrepreneurship, nomad travel, and real estate across the Asian continent. Natasha E. Feghali (NatashaeFeghali.com) is an award winning Canadian for her philanthropy in community and dedication to education and the community. She is a Stanford University Fellow of the Draper Hills School for Democracy and Democratic Rule. Natasha is a recipient of the 40 Under 40 United Way/Centraide Windsor-Essex County Leadership Award in 2018; the Sovereign Canadian Medal in 2015 and the Odyssey Award from the University of Windsor in 2018.
