The Saudi Arabia real estate market is expected to grow at a rate of 7.31% from 2024 to 2032, according to a report by IMARC Group. Real estate includes land, buildings, and improvements, and plays a crucial role in providing shelter, supporting economic growth, and serving as an investment. The market is being driven by government initiatives to diversify the economy, investments in infrastructure development, and the growing demand for residential properties in urban centers.
Advancements in technology and sustainable practices are shaping the market, with a focus on smart cities, green buildings, and eco-friendly developments. Foreign investments and ease of doing business initiatives are attracting investors and promoting competition. The tourism sector is also expanding rapidly, driving demand for hospitality and leisure properties.
Key players in the Saudi Arabia real estate market include Abdul Latif Jameel, Dar Ar Alkan, Emaar, and others. The market is segmented into residential and commercial properties, with different property types and regions driving growth. The report also covers market performance, COVID-19 impact, Porter’s Five Forces Analysis, and strategic recommendations.
IMARC Group is a leading market research company that offers management strategy and research services worldwide. They provide information on market trends and developments in various industries, including pharmaceuticals, technology, and travel.