Real Estate Sector in Saudi Arabia
The real estate market in Saudi Arabia as grown more than 10% in the past five years, and shows no evidence of slowly down. According to Dr. Bader Ibrahim Ibn Saedan, General Manager of Al Saedan Real Estate, most of this growth comes from the Mecca and Medina region, and partly from Riyadh.
The real estate market in Saudi Arabia as grown more than 10% in the past five years, and shows no evidence of slowly down. According to Dr. Bader Ibrahim Ibn Saedan, General Manager of Al Saedan Real Estate, most of this growth comes from the Mecca and Medina region, and partly from Riyadh.
“Many real estate developers build houses or residential units without paying attention to the affordability of the people,” says Dr. Bader. The private sector cannot do much about the affordability of the people; however, “the government has to boost the affordability of the citizens,” he explains.
Some obstacles that hinder the success of real estate companies in Saudi Arabia stems from the affordability of the people, regulations, and the distrust locals have with real estate developers. Some investors who developed real estate in the country had no experience. They built without worrying about the quality of their projects. This made the people distrusting of the experienced developers.
About Al Saedan
Al Saedan Real Estate is one of the leading real-estate companies in Saudi Arabia. The company has a strong expertise in master-plan developments, land development, building commercial and residential centers, selling and buying local and international real estates, providing consultation in real estates, and providing valuation and estimation services. Al Saedan is an international real estate company with projects in Saudi Arabia, Tunisia and the United Kingdom.