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.
The economy is being driven by strong demand across government, consumer and private sectors.
There was little meaningful indication of a business rebound in Bahrain in the early part of Q3, although this was not entirely unexpected given that the combination of summer and Ramadan, are typically associated with a market slowdown.
Jeddah residential market gained momentum with a robust upward trend as average prices and rentals continued to increase across the city.
Throughout the last quarter, Bahrain has continued a fragile recovery towards political stability after the period of anti-government hostilities witnessed in the first half of the year.
Despite the turmoil witnessed in global markets over the past 3-4 years, the emerging markets of Africa and the Middle East continue to offer opportunities of development and economic improvement.
While there is currently a significant over-supply of upscale or luxury housing in many markets, there remains a shortage of more than 3.5 million affordable dwellings across the major markets within MENA.
Now in its fifth year, the annual Macdonald & Company Middle East Rewards and Attitudes Survey is still the most comprehensive survey of its type undertaken for the property sector in the Middle East.
The days of ‘mega-malls’ are long gone and a customer-centric approach is key to a competitive, profitable mall of the future, say industry experts.
The outlook for a number of real estate markets in the Middle East and North Africa remains clouded by the continuing political, economic and social impacts associated with the ‘Arab Spring’.
19 February
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.
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.
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