Real Estate Sector in Saudi Arabia: Outlook
Anees Ahmed Moumina, CEO of SEDCO Holding talks about the real estate sector in Saudi Arabia.
imported 2024-03-17 17:43:07
Anees Ahmed Moumina, CEO of SEDCO Holding talks about the real estate sector in Saudi Arabia.
Since the beginning of the Islamic State’s (ISIS) hostilities against Kurdistan, which began in August 2014, Falcon Group has stepped forward to provide support and services to the Peshmerga forces.
Marcopolis.net has compiled a list of the top real estate developers in Ghana. Ghana’s real estate business is booming and western investors are not oblivious of the development.
The challenge at FDI, is how to bring foreign direct investments into a country with a troubled neighborhood. But as one of the emerging market powers, the public equity is going to be opened in Saudi Arabia in the middle of this year.
Right now the real estate market is facing a lot of changes. The Minister of Council has announced that he will charge a fee or levy tariffs on the white lands. This gives rise to a lot of rumors. People are not sure about the future of the real estate market.
We don’t have a clear vision of what is going to happen. In order to do product planning you need data and unfortunately accurate data is not available in Saudi. If you want to plan for the next five years you need to know how many houses are going to be built, how many exist, how many are going out of the market, how many permits have been approved etc. all of this data is not currently available or it is available but it’s not accurate.
The new concept of New Homes has been in the market since 2008 to serve the developers as a marketing arm and as a consultant to consumers, to assist them in choosing from different developments across the country, especially residential, gated communities, or as we call them, ‘compounds’.
Lifestyle Developers, the Saudi-based real estate developer committed to raising standard of living in the MENA region and beyond, marks its participation at Cityscape Jeddah 2015.
What is interesting about doing business in Saudi Arabia is the continuous growth pattern in the economy; that’s what makes it interesting, not only in the short-term, but in the long-term. Saudi Arabia’s economic growth is driven by its demographics: we are a young and growing population, a big and spacious country (around the size of Western Europe), and relatively undeveloped in many infrastructure areas.
The Saudi Arabian commercial real-estate market has been booming in the last decade. There has been an increase in the value of commercial properties and malls. Every year, there are almost 200,000 GLAs in major cities like Riyadh, Jeddah, and Dammam. There is a lot of demand since 2004 and right up to 2017.