Market Research & Statistics in Saudi Arabia Real Estate Industry: Ken Research

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How The Saudi Arabia Real Estate Market Is Positioned?

The real estate market in Saudi Arabia is currently at its growth stage. The real estate market has been categorized into four sub-categories which include residential real estate, office real estate, retail real estate and hospitality real estate market.

The Real Estate Market in Saudi Arabia was facing crisis due to the shortage of housing spaces, lack of mortgage law and other factors. It was estimated that Saudi Arabia needed at least 1.5 Million of housing units over the next few years to stem the shortage in affordable housing. This led to government reforms and the first mortgage law was implemented in 2012. The government also launched initiatives to build ~ units of housing over the next few years. The government introduced various schemes such as Vision 2030 for increasing the foreign investment in the Saudi Real Estate Market. The main focus of government in this was to increase the presence of affordable housing for the Saudi people.

The market faced various challenges due to fluctuation of oil prices as Saudi's GDP is highly dependent on oil. The government has implemented various policies and initiatives in order to boost other industries and to reduce the reliance on oil for GDP growth. In 2016, Capital Market Authority of Saudi allowed formation of Real Estate Investment Trade Funds (REITs) on the local stock exchange with the aim of increasing increase real estate contribution to GDP from ~% to ~ %. Further, in 2016 the Saudi Arabia government introduced 'White Land Tax" of ~% on undeveloped urban land. The focus has been on increasing the real estate participation in the GDP.

How Is The Saudi Arabia Retail Real Estate Market Positioned?

Retail industry in Saudi Arabia, Kuwait, Oman and the UAE is expected to increase at a CAGR of over ~% during 2019-2024. The main factors affecting this growth will be rise in consumerism, favorable demographics, increase of population, strong growth in tourism and increase in per capita income. Saudi Arabia is the largest country in Middle East having a population of ~ Million as of 2018, out of which one-third of the population consists of expatriates. In 2018, there were ~ million online shoppers in Saudi Arabia, with an additional ~ million users expected to be shopping online by 2022.

Middle Eastern consumers being more demanding, educated, price-savvy and connected increasingly require memorable shopping experiences, access to the latest products and expect brands to offer curation, personalization and storytelling.

Saudi Arabia retail real estate industry is growing due to changes in the new trends and opening up of economy to attract foreign investment. The market was affected negatively due to the implementation of VAT however it is a temporary issue and the future seems to be bright due to increase in the consumer expenditure. The retail spending increased from SAR ~ billion in 2013 to SAR ~ billion in 2018 registering a CAGR of ~% during the period.

What Are The Factors Affecting Retail Real Estate Sector In Saudi Arabia?

Population of Saudi Arabia: The rise in population with a strong growth trajectory in tourism and per capita income are the major reasons for the upward growth of the retail sector in all the states.

Introduction of VAT: Saudi Government implemented a VAT of ~%, in 2018. This has caused a shift in consumer behavior. This impacted negatively on market as the consumers in Saudi are cost-conscious.

Retail Spending Trends: The rise in per capita disposable income in the country has positively impacted an individual’s expenditure on food and non-food products during the review period. This has enhanced profit for a broad category of retailers ranging from single store retail outlets to those located in malls.

Current And Future Retail Demand And Supply

The gross leasable area in organized retail supply for Saudi Arabia (including cities Riyadh, Jeddah, Dammam Metropolitan Area and Makkah) has escalated from ~ million square meters during 2013 to ~ million square meters in 2018 having a growth of ~% during the period. Riyadh region witnessed the maximum growth in area supply of ~% during the period; on the other hand Makkah region had the least growth of ~% during the period. The supply of retail malls has grown over the years due to the completion of various malls and community centers in the major cities such as Malqa Center, Telal Center Riyadh Park, Riyadh Gate, Sidra, The Dheyafah, Panorama Mall, Al Qalam Mall and others. The retail space demand in Saudi Arabia is having mix reaction to the changing retail scenario in Saudi Arabia. The total retail space demand was about ~ million square meters in 2013 and it increased to ~ million square meters in 2018, thus witnessing average growth of ~% over the review period. Riyadh region witnessed the most growth during the review period with average growth of ~% and least growth was witnessed in Makkah of ~%.

The average overall occupancy has remained stable over the years between ~% - ~% across Saudi Arabia. In 2013, the occupancy rate for retail spaces in Saudi Arabia was estimated to be around ~% which decreased by ~ percentage point and was valued at ~ % in 2018.

Key Topics Covered in the Report

Real Estate Market Scenario in Saudi Arabia, 2013-2018

Overview of Retail in Saudi Arabia

Factors Inflecting Retail Real Estate Sector in Saudi Arabia

Current and Future Retail Demand and Supply, 2013-2025F

Supply and Demand Gap, 2013-2025F

Saudi Arabia Retail Real Estate Market Regional Landscape

Retail Market Outlook, Opportunities and Future Development Trends

Saudi Arabia Retail Market Future Outlook

Saudi Arabia Key Upcoming Malls

Future Trends in Retail Market

Saudi Arabia Retail Market Success Factors Recommendations

Saudi Arabia Retail Space Key Features and Characteristics

Saudi Arabia Case Studies of Major Retail Centers

Saudi Arabia Hotel Real Estate Market Overview

Factors Influencing Hotel Sector in Saudi Arabia

Saudi Arabia Current and Future Hotel Supply and Demand, 2013-2025F

Supply and Demand Gap, 2013-2025F

Saudi Arabia Hotel Real Estate Market Regional Landscape

Saudi Arabia Hotel Market Outlook, Opportunities and Future Development Trends

Key Features and Characteristics of Hotels in Saudi Arabia

Saudi Arabia Key Expected Hotel Projects

Saudi Arabia Hotel Market Potential Gaps

Saudi Arabia Recommendations Regarding Success Factors of Developing Hotels

Saudi Arabia Case Study of Major Hotels

Saudi Arabia Office Real Estate Market Overview

Factors Influencing Office Sector in Saudi Arabia

Saudi Arabia Current and Future Office Supply and Demand, 2013-2025F

Supply and Demand Gap, 2013-2025F

Saudi Arabia Office Real Estate Market Regional Landscape

Saudi Arabia Offices Key Features and Characteristics

Saudi Arabia Key Expected Upcoming Office Projects

Saudi Arabia Office Market Gap Analysis

Saudi Arabia Office Market Recommendations Regarding Success

Saudi Arabia Office Market Future Outlook, Opportunities and Development Trends

Saudi Arabia Co-Working Office Space Snapshot

Saudi Arabia Case Studies of Major Office Complexes

Factors Influencing Residential Sector in Saudi Arabia

Supply-Demand Gap, 2018

Saudi Arabia Residential Real Estate Market Regional Landscape

Saudi Arabia Residential Real Estate Market Gap Analysis

Saudi Arabia Recommendation Regarding Success Factors of Developing Residential Market

Saudi Arabia Residential Market Future Outlook, Opportunities and Development Trends

Saudi Arabia Key Upcoming Residential Projects

Key Features and Characteristics of Residential Sector in Saudi Arabia

Existing Housing Typologies in Saudi Arabia

Saudi Arabia Construction Costs, 2018

Saudi Arabia Online Real Estate Market Snapshot

Saudi Arabia Real Estate Online Portals Business Model

Saudi Arabia Online Real Estate Major Players ( Property Finder (Including JRD Group, Emerging Market Property Group (Bayut.SA) and Aqarmap)

Saudi Arabia Real Estate Market Competition Scenario

Saudi Arabia Real Estate Market Major Real Estate Developers Profiles (Dar Alarkan Real Estate Development Co., Taiba Investment Company, Jabal Omar Development Company, Kingdom Holding Company, Makkah Construction and Development Co)

For more information on the research report, refer to below link:

Saudi Arabia Real Estate Market

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Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
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Setting Priorities whilst embracing Innovation could accentuate the Bottom-Line Figures for Web Insurance Aggregators in India: Ken Research

India Web Insurance Aggregator Industry is fairly concentrated within the top 4 players constituting more than 90% of total space. While none of the top players is a profit making entity as at FY’2019, we attempt to cover the roadmap for the aggregators in a highly regularized environment. This discussion was a part of the interview series “A Roadmap for India Web Aggregator Industry” and revolved around understanding the insights of the Web Insurance Aggregators Industry in India.

“The interviewee, Mr. Mahavir Chopra, is working as the Chief Business Officer at Coverfox Insurance Broking Pvt Ltd.”

Here are some edited excerpts of the interview:

When did you start working in the insurance aggregator industry and how did you associate with Coverfox?

I had been a part of the industry since 2005 and had been actively writing about this industry in newspapers and through my own blog. In December 2005, I, along with few colleagues, started Insurancemall, the first ever online comparison platform for insurance products in India. The venture could not succeed due to lack of regulatory framework on FDI into an existing insurance intermediary. Secondly, maybe we were too early in the market – and insurers as well as customers were not ready. Then, in 2014, I happened to meet Varun Dua the founder of Coverfox when I decided to join hands and work with Coverfox as a founding member.

How has the industry changed over your tenure?

Regarding the change in industry over the past five years, Mahavir told- Like every other industry going digital we went through the journey of customers researching on our portal and exploring our advisory services, and finally ending up buying offline. The market has changed significantly since the advent of ecommerce, smartphone and high-speed internet in the country. Customer’s trust over the online medium is at an all-time high. On the other hand, insurers and intermediaries have been making serious investment into digital play improving the overall sales and post-sales experience significantly. Besides volumes seeing an upward swing, we also see the average ticket size improving with our portals that was unheard of a couple of years ago.

What are the key dynamics governing the product portfolio of the industry?

Car and bike insurance, being transactional one-year policies, see the maximum number of transactions on the online medium. Given the simplicity and standard nature of the product, auto insurance customers have taken up insurance online well. Online Term is another area where thanks to zero commission products, the differential pricing draws a lot of interest from insurance seekers. Given the transactional nature of the product, and the fact that offline life insurance agents do not market this product aggressively, Online Term has great potential online. In terms of premium and revenue, this would be the number one category for most aggregators. Health as well as Investment products are also seeing above average year on year growth.

What are the factors restricting growth of the industry to its full potential?

The traffic for online insurance is still limited. There are too many players chasing too small a traffic resulting in prohibitive cost of marketing and sales. Various reports suggest that just 2-3% of insurance seekers who have internet access buy insurance online. While there are individual efforts made by some players to grow the online traffic, it needs more people to invest serious money may be collectively so that people are aware of availability of insurance online. Somewhere I think insurers who have access to highest capital are stuck in a conflict between investing in online traffic and developing future business models, versus maintaining and nurturing existing source of business from offline distribution partners.

Coverfox has been known for its Omni-channel distribution strategy. How does the Coverdrive segment complement the business model?

Coverfox has an online broking license and not an aggregator license; therefore it is not restricted to mere online selling of products. When IRDA came up with the POS agent model to increase the number of insurance agents, Coverdrive, a segment focused on building a network of POS agents, was launched by Coverfox to provide a wide array of products to POS agents for selling. As of date, Coverdrive has around 60,000 POS agents on the network which sold more than a million policies in FY’2019.

The stiff regulations imposed by IRDA in terms of restriction on cross-selling opportunities detriment the growth of revenue for aggregators. Do you think IRDA should relax such regulations?

“There are many opportunities available for online brokers within the boundaries of the set regulations such as B2B sales, increasing focus on corporations to buy group insurance and others”, said Mr. Chopra while for the web aggregators. He was of the opinion that relaxation on some regulations that allow cross sell could definitely help keeping businesses and the industry profitable, viable.

Peer companies such as PolicyBazaar have recently expanded to UAE to provide scalability to their operations. Does Coverfox have any such plan of expanding geographically?

Going global is definitely on the long term to-do list of the company while for the next couple of years; the company would be expanding their operations in the Indian market only, with a special focus on Tier II and Tier III cities. Coverfox considers Technology and the quality of the users as their biggest asset and looks forward to capitalize on it.

What do you think about the future outlook of the industry in terms of customer growth and competition scenario?

The traffic on the platform is increasing at around 20 to 30% Y-o-Y, which maintains the cost of customer acquisition to around USD 65-70 (Source: Ken Research Analysis). If the mentioned restraints to the growth of industry are taken care of, Mahavir expects the lead conversion rate to go up to 9-10% of the leads generated, which currently have a conversion rate of 3-4%. On the contrary, if proper awareness and expanded reach to Tier II and Tier III cities are not implemented at an industry level, profitability could decline leading to consolidation or divestures in the next few years.

“Players in the market should strive for a balance between seeking more funding and expanding to different regions while simultaneously keeping the losses under control. In segments of payment processing, post-payment customer experience, the firms could ensure various efficiencies in their business model by successfully deploying artificial intelligence and entering into strategic alliances with technology companies” said Mahavir, when asked about the probable top priorities of a CFO in today’s era.

For any queries or feedback, reach out to the author at lakshay@kenresearch.com

To Find More Insurance Market Research Reports, refer to this link:-

https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/SC-93-48.html

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
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Growth in Demand for Cosmetics & Personal Care Products Estimated to Drive Zinc Oxide Market over the Forecast Period: Ken Research

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Zinc oxide is an inorganic mineral or compound with the formula ZnO. It is a white or yellowish powder which is insoluble in water. It is extensively used as an additive in various materials & products such as rubbers, plastics, ceramics, lubricants, glass, cement, paints, ointments, pigments, foods, batteries, ferrites, adhesives, sealants, fire retardants, and first-aid tapes. It is also used in a wide range of cosmetics & personal care products including nail products, makeup, bath soaps baby lotions, and foot powders. It is used as a bulking agent & colorant. As an ointment, ZnO is also used in sun protection products and diaper rash products.

According to study, “Zinc Oxide Market Research Report Process (Direct, Indirect, Laboratory, Waelz, Wet, ZnO Nanostructures), Application (Animal Feed & Nutrition, Ceramics, Cosmetic Ingredients, Fertilizers, Food Additives, Light Emitting Diodes, Lubricants, Metal Processing, Paints & Coatings, Pharmaceuticals Products, Rubber, Others), End Users (Automotive, Building & Construction, Food & Beverages, Healthcare, Metallurgy, Personal Care, Others), and Region - Forecast to 2023” the key companies operating in the zinc oxide market are Miike Smelting Co. Ltd., Advanced Nano Products Co. Ltd., Nyrstar, Recylex, American Zinc Recycling LLC, EverZinc, Befesa, GHC Ltd., US Zinc, Symrise, Weifang Longda Zinc Industry Co. Ltd., Zochem LLC, Marzinc, PontenossaSPA, Grillo-Werke AG. Key companies operating in the market are focusing on new product development & agreement to tap the opportunities in applications, for instance surface coatings, solar energy, and pharmaceuticals.

Based on process type, zinc oxide market is segmented into direct process, indirect process, wet process, waelz process, ZnO nanostructures and laboratory. Based on grade, market is segmented into treated grade, standard grade, Food and Chemical Codex (FCC) grade, United States Pharmacopeia (USP) grade and others. Based on application, market is segmented into rubber, paints & coatings, ceramics, cosmetics ingredients, animal feed & nutrition, metal processing, pharmaceuticals products, fertilizers, food additives, light emitting diode, lubricants and others. The rubber segment dominates owing to the widespread usage of zinc oxide as the main vulcanizing agent in vulcanization process of rubber. In addition, based on end-use industry, market is segmented into automotive, personal care, building & construction, food & beverages, healthcare, metallurgy and others.

The zinc oxide market is driven by large scale & growth in demand from the rubber industry, followed by rise in investments in research & development (R&D) initiatives, increase in demand for Nano zinc oxide and surge in demand in the cosmetics, pharmaceuticals, and personal care industries. However, fluctuation in the price of zinc and ban on the usage of zinc oxide in various applications may impact the market. Moreover, growth in demand for the product in semiconductor & electronics is a key opportunity for market.

Based on geography, the North-American region holds major share in zinc oxide market owing to rise in automotive sales, growth in demand for cosmetics & personal care products and increase in usage of rubber in the region. The Asian-Pacific and European regions are anticipated to witness higher growth rate due to growth in application in cosmetics, especially the skin care products over the forecast period. The global market is predictable to reach the value of US $4,946.26 million by enhancing at a CAGR of 5.85% during the forecast period (2018-2023).

To know more, click on the link below:-

Global Zinc Oxide Market Research Report

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World Zinc Oxide Market Research Report 2024(Covering USA, Europe, China, Japan, SEA and India)

Global Active Zinc Oxide Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

ankur@kenresearch.com

+91-9015378249

Italy Used Car Market Growth Forecast: Ken Research

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What Is The Competition Scenario In Italy Used Car Market?

Competition within Italy used cars the market was observed to be highly fragmented along with the presence of a large number of OEM certified dealerships, local dealers, multi-brand dealers, and individual sellers.

The OEM-certified dealers and multi-brand dealers make up the organized space in the used car market which accounts for around ~% of the market share in 2018. The multibrand dealership was observed to dominate the organized market of Italy with a market share of ~% in the year 2018. The local dealers and the individual seller’s together form the unorganized space in the overall used car market in Italy, which accounts for approximately ~% market share in the country, 2018. Major leaders in the offline dealerships in Italy used the car market include Auto Torino, Denicar FCA, Birindelli Auto Srl, Mocautogroup, GoodBuyAuto, Autoquattro, Schiatti Car Srl, Auto 500 and others. The online used car leaders in Italy used car market include true car, Autoscout24, Bakeca.it, Alvolante.it and other.

Most of the lead generation of the used car is contributed from the offline dealership stores. This is due to high reliability towards the offline dealerships as compared to booking the used cars online.   Parameters on the basis of which the used car dealerships compete are Number of dealers, Marketing Initiatives, Certification, Margins, Price, after-sales, Lead generation and Types of warranty.

Snapshot on Online Used Car Market

The surge in the number of online used car companies has to lead to an increase in the listing and advertisements by the used car dealers in the country. The online auctions companies’ have eased the process of bidding in an auction hazel free at the consumer’s convince. The customers can bid on the used cars in the auction without even visiting the store, which has contributed to the development of the online auction market of used cars.  Few popularly used car brands amongst the Italy online portals are Fiat, Volkswagen, Renault, Ford, and others. According to the industry articles, 70% of the consumers look for a used car online and then make a purchase at the store.

The used car dealerships in Italy have shifted from the traditional sales channel to the E-commerce sales channels owing to the increasing preference of the customers to search for a used car online before purchasing from a dealership. The online used car companies have made a comparison and the valuation of the used cars easier, attracting more customers.

Italy has witnessed a huge number of online searches for used cars as stated by INDICATA for the first seven months of 2019, which is expected to continue in the future.

The growth stage of the online channel for lead generation in Italy is at a growth stage with increasing preference of consumers to search for a used car online. Some of the leading players in the online used car market include Truecar, Autoscout24, Bakeca.it, Alvolante.it, Autorola Marketplace, Cargurus, BCA, Adesa, and others.

Snapshot on Auction Market

Used car Auction or Auto auctions are a method of selling the used cars at a platform (online or offline) where a large number of bidders bid on the used cars and the final bid the sale price of the used car. The dealers and the private individuals have a chance to get the used cars at a very low cost at the used car auctions. The price dealers pay for cars at auction vary with the age and model of the vehicle, the level of repair required before retail and the type of auction where it is sold.

The country has witnessed growth in the online used car auction platforms, which has eased the purchase of a used car for the customers. Car brokers with dealer licenses can give ordinary buyer’s access to cars that otherwise only dealers could buy. As a result, the car auction industry has grown in size and popularity, making it an excellent resource. Auctions take place in many forms such as Physical Auctions (In-lane auctions), digital auctions and mobile auctions.

 few major players in the used car auction industry in Italy are BCA (British Car Auction), ADESA (Cars on the web), Autorola Marketplace, Aste Auto and others. However, the market in Italy is saturated in terms of a number of auction dealers in the used car space.

There are different types of used car auctions which include Dealer auctions, Dynamic auctions, Blind Auction, Target the auction, and Buy now auction, Fleet auction, and Manufacturing auction.

Italy Used Car Market Future Outlook and Projections

Over the forecast period 2018-2023F, Italy Used Car market Gross Transaction Value (GTV) is further anticipated to increase to EUR ~ Billion by the year 2023F, thus showcasing a CAGR of ~%. The used car sales in Italy are forecasted to expand from ~ thousand units of used cars sold in 2018 to ~ thousand units of used cars sold in 2023F, growing at a Compound Annual Growth Rate (CAGR) of ~%. The country is also expected to witness growth in the average ticket price of a used car in the next few years by a CAGR of ~% during the period 2018 to 2023F. Low prices, easy availability of spare parts and higher resale value are some of the reasons contributing to the popularity of used cars in Italy. Rental companies have become one of the important sources of cars entering the used car market in Italy which has contributed to the growth of the market. The country is witnessing an increase in the number of used car dealers who are advertising their used cars for sale to the customers. The presence of these online portals in the country has made it convenient for the sellers as well as the consumers to meet at an online portal for the sale and purchase of the used cars. Demand for electric and hybrid cars is anticipated to grow in the future and would eventually lead to the growth of the used car market.

Key Segments Covered:-

By Type of Market Structure:

Organized Market

Multi-brand Dealerships

OEM Certified Dealerships

Unorganized Market

Customer to Customer

Online Sales

Local Dealers

By Car Make:

Fiat

Volkswagen

Renault

Ford

BMW & Mini

Opel

Mercedes

Audi

Toyota

Citroen

Nissan

Skoda

Others (Peugeot, Jeep, Dacia, Hyundai, Lancia, Kia, Alfa Romeo, Suzuki, MCC, Mini, Seat, Volvo, Land Rover, Mazda, Jaguar, Honda, Mitsubishi, Porsche, Subaru, Maserati, Ssangyong, Dr, Mahindra, Ferrari, Lotus, Lada and rest)

By Year of Ownership:

<2000

2000-2002

2003-2005

2006-2008

2009-2012

2013-2018

By Kilometers Driven:

Less than 5,000

5,000-20,000

20,000-50,000

50,000-80,000

80,000-120,000

Above 120,000

By Type of Used Cars:

Economy/Hatchback

MPV’s/Sedan

SUV’s

Key Target Audience

Offline Dealers

Online Portal

Organized Multi Brands Dealers

OEM Certified Dealerships

Online Portal

Private Equity and Venture Capitalist

Industry Associations

OEM Manufacturers

Automotive Manufacturers

Car Auction Companies

Time Period Captured in the Report:-

Historical Period - 2013-2018

Forecast Period – 2019-2023

Companies Covered:-

Online Dealerships:

True Car

Autoscout24

Bakeca.it

Alvolante.it

Autorola Marketplace

Cargurus

Offline Dealerships:

Auto Torino

Denicar FCA

Birindelli Auto Srl

Mocautogroup

GoodBuyAuto

Autoquattro

Schiatti Car Srl

Auto 500

Key Topics Covered in the Report:-

Ratio of used to new cars Italy

Italy Used Car Market

Used Cars for Sale in Italy

Used cars from Italy

Import of used cars in Italy

Online listings used cars in Italy

Used Car Auction Italy

Second-hand cars by Kilometer Driven

Types of Used Cars in Italy

Transfer of Ownership in Italy

Used cars for sale in Milano Italy

Multi-Brand Used Car Dealership Market

Online Used Car Market Business Model

Best Selling Used Cars Market in Italy

Repossessed Cars for Sale in Italy

For More Information On The Research Report, Refer To Below Link:-

Italy Used Car Industry Outlook

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Malaysia Used Vehicle Market Outlook to 2025 - By Type of Distribution Channel (Organized and Unorganized Dealers), By Mode of Selling (Online and Dealership Walk-Ins), By Type of Vehicle (Sedans, Hatchback, SUVs, MPVs, LCV, and others), By Vehicle Age(0-3 years, 3-5 Years, 5-8 Years and More than 8 years), By Brand (Perodua, Toyota, Honda, Proton, Nissan and Others)

Indonesia Used Car Market Outlook to 2023 - Rising Popularity of Online Platforms and Reduction in Average Ownership Period to Drive Used Car Sales

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249