To what extent can better use of building technologies improve the Kingdom’s housing projects?
How will economic diversification impact the growth of real estate projects within and beyond the Kingdom’s main urban centres?
Perhaps the most significant regulatory enactment for the Kingdom’s construction and real estate players in years, the white land tax is expected to have a wide-ranging impact on the market. Instituted to encourage sales of land to more active developers, the government began issuing its first bills for taxable land in late March 2017.
After a period of stabilisation in which the government implemented a number of reforms, the real estate and construction sectors are preparing for the introduction of a range of projects under the Saudi Vision 2030 initiative. Lower oil prices and the resulting fiscal consolidation of the state cooled demand in 2016 and early 2017; however, public and private investment is set to pick up...
Although they benefitted from more than SR220bn ($58.7bn) per year in new contracts between 2011 and 2014, according to National Commercial Bank, many Saudi construction firms have seen their margins squeezed by escalating costs in recent years. One of the greatest challenges in balancing their books has been the impact of new labour...
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