Today this sector is one of the fastest growing markets in the world. The four components of this sector are housing, retail, hospitality, and commercial, with housing being the key one, which comprises 5 – 6 % of KSAs gross domestic product (GDP), at present. However the remaining three sub-sectors are also showing an increased pace of growth over the last few years.
Meanwhile, the residential segment saw an increase of 43% during the first quarter of 2014 has across the four major cities, with Eastern Province recording the largest number of units, followed by Riyadh, Jeddah and Madina.
With increasing corporate expanding their business demand for office space would continue to be high in the key four Provinces. Retail space in shopping malls cross the key cities is projected to double in this year.
The construction development sector, including townships, housing, built-up infrastructure and construction-development projects in Eastern, Central, Western Provinces, this sector continues to be a favored destination for global investors.
Residential sector still has enormous potential for growth. “With housing requirements growing across cities and investments in the right project have the potential to yield healthy returns.
Further, demand for space from sectors such as education and healthcare has opened up ample opportunities in the real estate sector.
Though ASGS – Real Estate, we look to provide our clients with real estate marketing, real estate consulting, maintenance duties for real estate facilities and organizations (managerial, commercial, and service).
