The report titled
“Saudi
Arabia Real Estate Market Outlook to 2025 – By Retail Real Estate Market (Super-Regional
Malls, Regional Malls and Community Centre), By Hotel Real Estate Market (3
Star, 4 Star, 5 Star and Other Hotels), By
Office Real Estate (Premium Offices Grade A and Grade B) and Residential Real
Estate Market (Apartment, Villas, Traditional Houses and Others)" provides a comprehensive analysis of the real estate
space within Saudi Arabia. The report covers various aspects
including introduction of Saudi Arabia real estate market, macroeconomic
overview, supply as well as demand assessment for retail market, office market,
hotel market and residential
market; market overview, factors influencing all the markets; current and
future supply and demand, regional landscape and other information. Comparative
landscape has been presented at an overall level.
Saudi
Arabia Real Estate Market Overview
The
Saudi Arabia real estate market was in crisis earlier due to the shortage in
housing spaces, lack of mortgage law, decline in the oil prices and other
factors. This has led to implementation of the first mortgage law in 2012,
along with various government initiatives over the 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.
In 2016, REITs were listed on the local stock exchange with the aim of
increasing increase real estate contribution to GDP from 5% to 10 %. The year
2018 was witnessed to be a period of alteration in the entertainment sector of
the Kingdom. It was a key part in the Vision 2030's objective to enhance and
diversify the past entertainment in the area. In line with this, the government
announced various new reforms such as a new online visa scheme and other
reforms to increase the tourism inflow in the region.
Saudi Arabia Retail Real Estate Market
Retail
real estate market supply of Saudi Arabia has witnessed a positive CAGR during
2013-2018 and is projected to remain positive in future. The retail sector in
Saudi Arabia has been hardest hit on the demand side by the expatriate exodus.
The price-cutting has eased down a bit; however consumers are still
price-sensitive. The market has witnessed developments that have transformed
the retail market from small and unorganized markets to structured and
extravagant shopping malls, with international brands, entertainment areas,
hypermarkets and supermarkets. Majority of the retail outlets are spread across
regional and super-regional malls and structured shopping centers that have
replaced the traditional strip malls and shopping center retail concept.
Saudi Arabia Hotel Real Estate Market
The hotel market in Saudi Arabia is undergoing
transition due to stern measures by government as there was dip in crude oil
prices. However, government wants to reduce dependency on oil therefore it is
making key investments in developing region as an entertainment destination
which will have a positive impact on the hotel market. The Vision 2030 focuses
on increasing GDP contribution from tourism and for this the government
initiated major projects such as Qiddiya Project, Red Sea Project, Neom, Amaala
Project and others. The total number of tourist’s arrivals in Saudi Arabia in
2017 was 18.6 million which increased to 23.6 million in 2018, thus registering
a growth of 26.9%. The government wants to increase the domestic and
international visitors and at the same time wants to decrease the outbound
tourism of the country. The ADR has been declining in the market as the general
economy has remained subdued which has led to increase in the vacancy rate in
the hotels.
Saudi Arabia Office Real Estate Market
The aim of government is
to diversify the economy. In 2016, government announced a SAR 200 billion
private sector incentive package to boost the private sector’s growth and
increase the rate of employment in the country. The office market in Saudi
Arabia is witnessing subdue pressure as the rentals have been declining. The
rentals and occupancy level has been under pressure since 2016 and this trend
is expected to continue as there is oversupply of low quality office spacing. The
office space supply had a positive CAGR during the review period. The future
supply is focused on developing theme-based office parks, mixed-development
projects and others. The co-working space is entering in the Saudi Arabian
market and it is expected it will open new avenues in future.
Saudi Arabia Residential Real Estate
Market
The demand for affordable housing units is increasing in Saudi
Arabia Residential Real Estate market. The government is focusing on
Saudization which has resulted in expatriates leaving the country. This has
further declined the demand in the residential real estate market. In the
beginning of this decade there was shortage of housing spaces, lack of mortgage
law and other problems which were in the market. The government has been
actively working on the issue of housing and has made various structural
changes for dealing with this issue. It has also undertaken several initiatives
for increasing the home ownership numbers in Saudi Arabia. The market witnessed
growth in the supply of housing units at a positive CAGR.
Comparative Landscape within Saudi
Arabia Real Estate Market
The
government's vision of reducing the reliance on oil economy and diversifying
into other sectors especially on real estate has resulted in growth of the real
estate industry in Saudi Arabia. The market has high competition where the
demand for new properties is increasing due to growth in the commercial
activities and increase in competition. Some of the major real estate
development companies operating in the Saudi Arabia are Al Saedan Real Estate,
Kingdom Holding Company, Ewaan, Al Ra'idah Investment Company, SEDCO
Development, Jabal Omar Development Company, Makkah Construction &
Development Co, Emaar, Dar Alarkan Real Estate Development Co and Saudi Taiba
Investment and Real Estate Development Co. Competition among developers majorly
happens on the parameters such as land bank, location of the property, upcoming
projects, construction costs, reputation of the company and other parameters.
Key
Segments Covered
Saudi
Arabia Retail Real Estate Market
By Type:
Super-Regional Malls
Regional Malls
Community Centers
By Geography:
Riyadh
Jeddah
DMA
Makkah
Saudi
Arabia Hotel Real Estate Market
By Type:
3 Star Hotels
4 Star Hotels
5 Star Hotels
Others (Less than 3 Star Hotels)
By Geography:
Riyadh
Jeddah
DMA
Makkah
Saudi Arabia Office
Real Estate Market
By Type:
Premium Office
Grade A Office
Grade B Office
By Geography:
Riyadh
Jeddah
DMA
Saudi Arabia
Residential Real Estate Market
By Type:
Apartments
Villas
Traditional Houses
Floor in a Villa
Others (Floor in a Traditional House)
By Geography:
Riyadh
Jeddah
DMA
Makkah
Key Target Audience
Real Estate Developers
Independent Investors
Real Estate Consulting Companies
Third Party Real Estate Companies
Independent Architects
Government Associations
Government Agencies
Time Period Captured in the Report:
Historical Period – 2013 - 2018
Forecast Period – 2019F – 2025F
Companies Covered:
Property Finder
(Including JRD Group)
Emerging Market
Property Group (Bayut.SA)
Aqarmap
Dar Alarkan Real
Estate Development Co.
Taiba Investment
Company
Jabal Omar
Development Company
Kingdom Holding
Company
Saudi Real Estate
Company (Al-Akaria)
Arriyadh Development
Co
Ewaan Global
Residential Company
Al Saedan Real Estate
Company
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:
Related
Reports
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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