Marcopolis presents the Saudi Arabia Report focused on the investments, doing business, economy and other topics featuring interviews with key executives. The sectors under review in this issue are industry, real-estate, ICT, investments, banking sector, telecom sector and many more.
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Khalid A. Al-Sehaibany is general manager of Hamat Properties. He won an award for Retail Professional of the Year in 2014 by The ICSC 2014 Middle East and North Africa Shopping Centre Awards.
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."