Real Estate & Construction

Saudi Arabia 2019 - Real Estate and Construction

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 early signs indicating that this reform is encouraging greater access to land for mixed-use real estate development. Government reforms and funding initiatives in the home loans sector are under way, with the aim of significantly increasing home ownership. However, going forward there are concerns that an oversupply in new real estate developments will drag down sales and rental prices. This chapter contains an interview with Majed Al Hogail, Minister of Housing.

Cover of The Report: Saudi Arabia 2019

The Report

This chapter is from the Saudi Arabia 2019 report. Explore other chapters from this report.

Interviews & Viewpoints

Sketch of Majed Al Hogail, Minister of Housing
Majed Al Hogail, Minister of Housing: Interview