Saudi real estate market set for strong growth
by This email address is being protected from spam bots, you need Javascript enabled to view it on Tuesday, 07 October 2008
Strong growth in Saudi Arabia’s real estate market is expected across all sectors in the coming years, fueled by high oil prices and the kingdom's boombing economy, Colliers International said in a report published on Tuesday.
The real estate consultancy said in a report on the Saudi market that it offers “growth potential across all industry sectors and an encouraging outlook for the future”.
Colliers said “opportunities in the kingdom are being fuelled by strong demographic and economic drivers, a general lack of supply... coupled by the government’s determination to diversify the economy and promote investment leads”.
The report covers Riyadh, Jeddah, Mecca and the Eastern Province.
Colliers said in Riyadh, the Saudi capital, annual demand for new residential units was 30,000 for the next 15 years, citing the Riyadh Development Authority.
READERS' COMMENTS
MORE FROM ARABIANBUSINESS.COM
TOP IN MIDDLE EAST REAL ESTATE
TOP MIDDLE EAST BUSINESS STORIES
ALSO IN MIDDLE EAST REAL ESTATE
LATEST MIDDLE EAST BUSINESS NEWS
RELATED STORIES
Property Special 2008
3 stories- Emaar to build $100mn Khalifa City in Cairo
17 Dec '08 | News - Abu Dhabi's Sorouh says primary market steady
16 Dec '08 | News - UAE's Aabar says to invest $136mn in real estate
23 Nov '08 | News
Colliers International
- House prices jump 53%
26 May '08 | News - Kuwait vows war on property costs
14 Jan '08 | News




