With a young population and an increasing number of Saudis entering the workplace, the demand for housing and offices is expected to remain high. As housing preferences evolve, with a move away from extended family homes to those based around nuclear families, appetite for smaller affordable units are set to increase. This will boost construction of residential units and drive continued demand...
Saudi Arabia Construction
Chapter | Real Estate & Construction from The Report: Saudi Arabia 2020
Saudi Arabia’s decision to weaken the link between hydrocarbons and economic growth, and pursue a policy of diversification has seen a wide range of projects come to fruition in the last several years. While at present the Covid-19 pandemic and the unprecedented plunge in oil prices are causing significant short-term uncertainty, the reforms that have been put in place in recent years should stand the Kingdom in good stead over the longer term.
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As industries around the world increasingly turn towards environmental, social and governance (ESG) strategies to support their recovery from the Covid-19 pandemic, focus is sharpening on sustainable construction in the Middle East.
Articles & Analysis | Saudi Arabian citizens to benefit from affordable residential real estate from The Report: Saudi Arabia 2020
Saudi Arabia’s residential housing segment underwent significant expansion in 2019 following several years of muted growth. The government has been the primary driver of this recent uptick in activity, launching a number of regulatory reforms and financing initiatives to increase the availability of affordable housing. Current trends in the...
Articles & Analysis | Giga-projects under construction are set to boost Saudi Arabia's entertainment and tourism offerings from The Report: Saudi Arabia 2020
Saudi Arabia is in the midst of developing a number of large-scale, complex and multi-purpose construction projects that aim to transform the wider economy. The Kingdom’s main giga-projects are NEOM, the Red Sea Project and Qiddiya. Rolled out as part of Vision 2030, these developments are globally unique in scope and ambition, and aim to...
Articles & Analysis | Saudi Arabia's construction sector bounces back in 2019 from The Report: Saudi Arabia 2020
The construction sector is expected to see significant growth over the next decade, led by Vision 2030 programmes. Construction activities gained pace during 2019, with a number of infrastructure plans either announced or initiated. In addition, some major projects are nearing completion, such as the Riyadh Metro, while the Kingdom’s emerging...
Articles & Analysis | Expanded leisure offering supports Saudi Arabia's real estate sector from The Report: Saudi Arabia 2020
Economic and social reforms under the Vision 2030 strategy are driving commercial real estate investment and helping to chart a new course for the sector. Demand for entertainment options is playing a major role in growing multifaceted retail offerings, while the country’s efforts to establish itself as a global business centre and major...
Saudi Arabia’s decision to weaken the link between hydrocarbons and economic growth, and pursue a policy of diversification has seen a wide range of projects come to fruition in the last several years. While at present the Covid-19 pandemic and the unprecedented plunge in oil prices are causing significant short-term uncertainty, the reforms that have been put in place in recent years should stand the Kingdom in good stead over the longer term.