The Role of Green Finance and Public-Private Partnership in Addressing the Challenges of Green Buildings in Saudi Arabia

Urbanization and the economic boom in the Kingdom of Saudi Arabia (KSA) underscore the need for green building practices that can help mitigate environmental impact. The development and adoption of green building (GB) projects not only have environmental and social benefits, but also long-term financial benefits. This study conducts a systematic review of the challenges of green building initiatives in the Kingdom. The study selected 12 articles (out of 19 articles found in the SCOPUS Search) from 2019 through December 2024. The study reports significant development challenges like high capital requirements, unawareness, regulatory problems, and weak technical competence in widespread green building practices. Therefore, it became essential to find pivotal solutions to facilitate the green building initiatives in KSA. Key obstacles to the implementation of green building initiatives identified in this review are high capital requirements, unawareness regarding the benefits of green buildings, regulatory problems, and weak technical competence in order to widespread green building practices. Nonetheless, the study highlights the potential benefits and promise of green finance and Public-Private Partnerships (PPPs) to overcome these obstacles. This study provides valuable insights and recommendations for policymakers, financiers, and industry leaders to accelerate the transition towards the development of green building initiatives in Saudi Arabia.