Portugal emerges as a "secure and tactical" investment destination for Saudi capital.
A Tale of Cross-Cultural Collaboration: Dr. Abílio Alagôa da Silva's Global Impact
In the ever-changing world of international business, few individuals embody innovation and cross-cultural collaboration quite like Dr. Abílio Alagôa da Silva. A seasoned economist, entrepreneur, and strategic wizard, Dr. Alagôa da Silva has carved out a distinguished career spanning Europe, the Middle East, Central Asia, and Africa. Currently, he serves as the President & CEO of the Portuguese-Saudi Business Council (PSBC), playing a pivotal role in enhancing economic ties between Portugal and Saudi Arabia, aligning closely with the Kingdom's Vision 2030 objectives.
Under his leadership, the PSBC has championed numerous bilateral initiatives, fostering strategic partnerships in energy, mobility, and technology. One of the most notable examples is the collaboration between Saudi Aramco Technologies and BYD, which highlights his commitment to sustainable innovation and environmental leadership. Beyond his leadership at PSBC, Dr. Alagôa da Silva's influence extends even further. He serves as the Grand Master of the Grande Loja Soberana de Portugal and the head of HubVolt, a sustainable mobility firm, demonstrating his dedication to ethical leadership and technological advancement.
In this exclusive interview, we delve into Dr. Alagôa da Silva's insights on fostering international partnerships, navigating the evolving economic landscape, and driving Portugal's global presence through strategic initiatives.
Portuguese in Saudi Arabia: The Steadily Growing Presence
While the Portuguese community in Saudi Arabia may still be relatively small, it is steadily expanding. Most Portuguese professionals in the Kingdom can be found in technical and strategic areas such as engineering, construction, infrastructure, energy, and consultancy. As bilateral ties strengthen, we anticipate a greater presence, particularly in sectors aligned with Vision 2030, including smart mobility, green energy, and technology.
The Allure of Portugal for Saudi Investors
Portuguese nationals residing in Saudi Arabia are increasingly considering reinvesting in Portugal, especially in stable assets like real estate. Their international perspective and strong emotional connection to their home country make them appealing investors in residential and commercial developments.
The Sturdy Bridge: Portuguese Business and Real Estate Communities in Saudi Arabia
Through the Portuguese-Saudi Business Council (PSBC), efforts are underway to formalize and strengthen networks connecting Portuguese expatriates and Saudi investors. Currently, there is not yet a formally structured real estate-focused Portuguese network in the Kingdom, but the PSBC serves as a platform to promote investment opportunities in Portugal and fosters dialogue and partnerships.
The Attraction of Portuguese Properties for Saudi Investors
From our experience, Saudi investors are drawn to high-end coastal villas, resort-style residences with privacy and space, and increasingly, urban luxury properties in Lisbon and Porto. There is also a growing interest in agricultural land and estates with tourism potential in the Alentejo and Douro regions. Factors like lifestyle, climate, safety, and accessibility to Europe are key drivers.
The Charm of Portugal: A Haven for Gulf Nationals
Portugal offers an exceptional quality of life, boasting security, natural beauty, good healthcare and educational systems, and a welcoming culture. From an investment perspective, Portugal's position within the EU, stable property market, and attractive incentives attract foreign investors, including the D7 and digital nomad visas. Gulf nationals increasingly view Portugal as a strategic and safe base in Europe.
Generational Differences in Gulf Investment Behavior
There is a clear distinction between younger Saudi investors and more traditional family offices. The former, often educated abroad and tech-savvy, are interested in innovation, ESG-aligned projects, and urban investments that combine lifestyle with returns. In contrast, traditional family offices prioritize legacy assets, such as premium real estate, farmland, and long-term holdings. Portugal offers a mix of both.
Similarities and Lessons: A Glimpse into the Parallels of Portuguese and Saudi Real Estate Markets
While the two markets differ in maturity and scale, there are striking similarities. Both societies value family-oriented living, privacy, and multi-generational real estate use. There is also a shared appreciation for heritage and architectural authenticity.
Inspirations for Portugal: Lessons from Saudi Arabia's Mega-Projects and Vision 2030
Saudi Arabia's bold and visionary urban planning projects, such as NEOM, display what can be achieved through ambitious planning, long-term vision, and integrated planning. Portuguese municipalities and developers could draw inspiration from Saudi Arabia's focus on smart cities, sustainability, and innovation-led investment zones.
Silver Linings: Opportunities for Portuguese Developers
Concepts like "The Line" in NEOM challenge traditional urban models and push the boundaries of what cities can be. Portuguese developers could benefit from studying Saudi Arabia's boldness in vision, its integration of technology, and its commitment to building globally relevant destinations.
The Unveiling of Portugal: Boosting Awareness Among Gulf Nationals
Portugal remains relatively underexposed when compared to other European destinations. A coordinated communication effort involving the government, chambers of commerce, real estate players, and cultural diplomacy is necessary to increase awareness of Portugal's investment and lifestyle opportunities. By developing a structured, reputable platform, such as the PSBC, we can promote Portugal at the highest level.
Portugal: A Desirable Haven for Gulf Nationals
Beyond investment, Gulf nationals view Portugal as a desirable place to live, vacation, and educate their children. Its natural landscapes, proximity to Europe, relaxed Mediterranean lifestyle, and security make it an attractive choice for families from the Gulf.
- Dr. Alagôa da Silva's influence on strategic partnerships between Portugal and Saudi Arabia extends beyond the Portuguese-Saudi Business Council (PSBC), as he serves as the Grand Master of the Grande Loja Soberana de Portugal and the head of HubVolt, a sustainable mobility firm.
- In addition to its robust economic ties with Saudi Arabia, Portuguese nationals residing in the Kingdom are increasingly considering reinvesting in Portugal, particularly in stable assets like real estate, owing to their international perspective and strong emotional connection to their home country.
- The Portuguese-Saudi Business Council (PSBC) is actively working to formalize and strengthen networks connecting Portuguese expatriates and Saudi investors, with a focus on promoting investment opportunities in Portugal and fostering dialogue and partnerships.
- Saudi investors are drawn to various types of properties in Portugal, including high-end coastal villas, urban luxury properties in Lisbon and Porto, agricultural land and estates with tourism potential in the Alentejo and Douro regions, and resort-style residences with privacy and space.
- Portuguese society, like that of Saudi Arabia, values family-oriented living, privacy, and multi-generational real estate use, as well as a shared appreciation for heritage and architectural authenticity.
- Portugal's urban planning initiatives could benefit from taking inspiration from Saudi Arabia's ambitious projects, such as NEOM, by adopting a long-term vision, integrated planning, smart cities, sustainability, and innovation-led investment zones.
- Portuguese developers can learn from Saudi Arabia's willingness to challenge traditional urban models, integrate technology, and build globally relevant destinations, thereby positioning Portugal as an attractive investment destination for Gulf nationals.
