• Saudi real estate gets non-oil boost

    With the office market seen as the most lucrative and the luxury retail sector witnessing a surge, the Kingdom's real estate landscape is undergoing a transformative phase.

    The Saudi commercial real estate market is set for a significant upswing in 2023, propelled by the government's vision to diversify from oil. Investments are flooding into non-oil sectors, including tourism, manufacturing, and logistics.

    The rise of e-commerce demands more warehouses and distribution hubs. Additionally, a growing population predicts a surge in demand for office, retail, and residential spaces.

    The office market, in particular, is expected to shine in 2023, thanks to efforts to attract foreign investments and the growth of financial and business services. The retail sector also looks promising, with rising consumer spending and government-backed retail projects.

    As the Regional Headquarters Program nears, Riyadh is becoming a preferred Middle East base for many multinationals, intensifying the demand for premium office locations like KAFD and Laysen Valley.

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    Saudi smart homes market builds on digitization drive

    The Kingdom's smart homes market is being driven by growing affluence of Saudi population, govt emphasis on digitization, and rising popularity of smart home devices.
    Saudi Arabia's smart homes market is growing due to government backing, tech advancements, and evolving consumer tastes. As the Kingdom advances toward its Vision 2030 goals, the smart homes sector is poised to play an important role in shaping the country’s future urban landscape.

  • Office segment demand drives Saudi Arabia’s real estate boom

    Riyadh's office sector is witnessing record demand with 97 percent occupancy in Grade A spaces and 85 percent in Grade B, reflecting Saudi Arabia's booming business environment.
    "The office sector shines brightest in the real estate market. Saudi Arabia's rapid economic growth drives the demand," Faisal Durrani, Partner, Head of Middle East Research told TRENDS. "Overseas businesses are flocking to Riyadh, evidenced by a 54 percent rise in business licenses in 2022."

  • Real estate exchange transforms Saudi market

    MENA's first real estate stock exchange launched in Saudi Arabia, will digitize 180 million documents and offer comprehensive financing services.
    The stock exchange offers indices, real estate services, and wealth management. It ensures supply-demand balance, and swift transactions, while delivering high-quality, accurate and efficient data.

  • Realty sector’s success hinges on GDP growth

    Reports suggest that Saudi real estate sector will contribute close to nine percent to the national gross domestic product by 2030.
    The kingdom’s Minister of Housing, Majid Al-Hogail recently said that Gulf country's residential real estate finance is expected to exceed 1.2 million contracts with a value of SR600 billion ($162 billion) by 2030.

  • Mega projects bet high on diversified future

    Saudi Arabia has allocated $250 billion in construction contracts since 2016 as part of its Vision 2030 strategy to diversify economy.
    This TRENDS infographic dives into Saudi Arabia’s ambitious transformation to discover how the Kingdom is reshaping its future with high investments in the real estate sector and infrastructure projects.

  • Five skills workers require in real estate

    Saudi Real Estate General Authority introduces 12 new roles, including positions like real estate broker, advertiser, and property manager.
    Saudi Arabia’s real estate sector is evolving with new regulations, creating fresh job opportunities. The latest initiatives seek to enhance the sector’s GDP contribution while fostering job and investment prospects.

  • Urban developments transform Saudi realty

    The recently held "Cityscape Global" in Riyadh showcased the vast urban development initiatives, signaling a bright future for the sector.
    The exhibition saw the launch of massive real estate ventures, including integrated, modern cities, with a combined investment of around $18.3 billion. Some of the these projects are nearing completion.