Retail sector in Saudi Arabia: shortage of 2.5 million GLAs

Khalid A. Al-Sehaibany, General Manager of Hamat Properties talks about the retail sector in Saudi Arabia and the potential.

He says, “The retail sector is not saturated. There is still a gap between the supply and demand. We need to accommodate more retailers in the Kingdom. Saudi is almost 40% below the UAE in GLA.

In Saudi Arabia, there is a shortage in the retail and real estate sectors. In the next 5 years, the market needs one million GLAs in Riyadh alone. Jeddah is lagging by 1.5 million GLAs. In the main cities, there is a shortage of 2.5 million GLAs, which is quite a big figure. Many retailer want to enter the Saudi market as soon as possible, because of many factors.”