Saudi Arabia
Saudi Arabia’s commitment to delivering a world-class infrastructure is moving ahead at breakneck speed with road, rail, air and seaport projects jostling for space alongside groundbreaking power and energy initiatives.
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The road to home finance has been a long one for the Kingdom, but with its highly anticipated mortgage law edging ever closer to ratification, would-be homeowners and financial institutions are gearing up for a new era of opportunity.
A reported US$600 billion worth of investment opportunity is up for grabs in the Kingdom between now and 2020, and with the country leading the region in the World Bank ease of doing business rankings, it’s attracting increasing interest.
Investment in the Kingdom’s burgeoning industrial sector is proving to be a win-win opportunity for both eager investors and the Saudi economy.
The redevelopment of Riyadh’s urban heartland is picking up pace with the emerging King Abdullah Financial District the first in a series of groundbreaking projects redefining the skyline and positioning the city as a world-class financial hub.
With the announcement this year of a US$66.7 billion initiative to address the demand-supply imbalance in the Kingdom’s housing market, social infrastructure spend is topping the Government agenda as it focuses on building affordable homes for the future.
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This review focuses on the three most dominant residential markets in the Eastern Province of Saudi Arabia, namely Dammam, Dhahran and Al Khobar.
The buoyancy in the economy coupled with a growing population has increased consumer confidence in Jeddah’s residential property market.
The residential property sector in Riyadh continues to be characterized by on-going increases in the price of completed residential units as well as vacant land.