Saudi Arabia Construction Articles & Analysis

Chapter | Real Estate & Construction from The Report: Saudi Arabia 2019

Although growth in Saudi’s real estate sector has softened since 2016, government-led initiatives to increase access to affordable housing, in addition to wider economic diversification plans focused on tourism and industrial output, look set to turn its fortunes around. All eyes have been on the impact of the government’s white land tax on unused plots, which was introduced in 2017, with...

Home to an estimated 15% of the world’s proven oil reserves and the single-largest economy in MENA, Saudi Arabia is a key regional and global player. The Vision 2030 blueprint sets out regulatory, budget and social reforms that will be implemented over the coming decade as the nation sets about curbing its reliance on crude oil production and export, which accounted for 43.5% of GDP in 2018.

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Although growth in Saudi Arabia’s real estate sector has softened since 2016, government-led initiatives to increase access to affordable housing, in addition to wider economic diversification plans focused on tourism and industrial output, look set to turn fortunes around. All eyes have been on the impact of the government’s white land tax on...

 

The government is undertaking promising reforms and investing in new developments in order to bolster the volume of affordable housing available on the market, in turn increasing the homeownership ratio among nationals from its current level of 47% to 70% by 2030, as the government seeks to meet demand and accommodate a burgeoning young...

 

In 2008, for the first time in history, more than half of humanity was living in urban areas. Perhaps the most remarkable observation about this trend is the speed at which it has happened: as recently as 1900 urban areas accounted for 13% of the global population. Towns and cities are seen as the crucibles of opportunity for many rural...

 

To what extent will the rollout of new mortgage schemes bolster investor confidence?

 

The ambitious $500bn mega-city NEOM — derived from the Greek word neo (new) and the Arabic word mustaqbal (future) — project is an energiser for the construction sector and provides a promising longterm pipeline of opportunities for investors. These include Qiddiya, an $8bn entertainment complex three times the size of...

 

In 2018 consolidation marked Saudi Arabia’s construction sector, following a difficult 2017 when the government shelved or paused many unfinished projects. Growth in 2018 was modest at around 4% and the value of contracts awarded was still well below the record years of 2013 and 2014. The year also saw the fall of one of the country’s largest...