The region of Riyadh is positioned in the central
part of the Saudi Arabia and the Arabian Peninsula as an entire and is in the
eastern area of Najd. The region has observed unparalleled growth in the
populace, as among 1930 and the early 21st century the populace has
augmented from 27,000 to over 6.5 million. Not only has this, Riyadh has a
young populace with more than half of residents under the oldness of 20 years
and less than one-fifth being older than 60.
Additionally, based on the supply and demand
assessment, the retail
market in Riyadh has observed oversupply of retail space during the
reviewed period. Nonetheless, the requirement has although decreased from last
year principally owing to the acceptance of VAT by the government. There has
been superfluity in terms of retail units within the region owing to the checking
in economic growth generated by the decrease in oil prices. In coming years,
with employment of Saudization policy by the government, an effective augment in
number of cinemas and several other factors, it is estimated that the supply-requirement
gap will reduce in the retail market in Riyadh.
The enlivening ban from cinemas in Saudi Arabia has happening
doors for investment in the entertainment segment, thus shimmering a wide
potential in the requirement for the retail segment in Riyadh region. The
Central economy was witnesses as the maximum eye catching field for the
establishment of retail projects due to the quality infrastructure, high
populace, financial districts and good quality connections with other
economies. Some of the several other foremost aspects determining the Riyadh retail market involve growth in
retail spending, acceptance of VAT, tourism, populace and demographics,
increasing disposable income, emerging supermarkets and hypermarkets, inflow of
international brands, relaxation of investment regulation, tenant mix and
climate circumstances.
Over the recent past years, the background of the Riyadh’s retail sector has malformed
from the unadventurous market place encompassing unorganized independent stores
and workshops to organized large-scale shopping malls and hypermarkets that
house the principal global brands. The retail sector in Riyadh is now exceedingly
competitive. in addition, the provided the disjointed nature of Riyadh’s retail
sector and increasing the popularity of organized retail, amalgamation is
likely with superior players rising the inorganically to apprehension the market
share. These players keep modernizing on strategies like product distinction,
price-related suggestions along with engaging the mall characteristically in
the minds of patrons through the numerous entertainment packages like enjoyment
parks and food courts.
Sideways, after observing a growth for the last four
years, the requirement for the retail
space in Riyadh observed a reduce in the recent past year due to the
principally introduction of VAT united with the several other factors such as
increasing e-commerce retail. Among the different mall groupings, super-regional
malls have the uppermost occupancy rate in 2018, followed by the regional malls
and community centers. Average rentals rates have also decreased over the last
years shimmering the decrease in requirement. With the fresh improvements
kicking in, the retail market will observe an increase in the coming years. Therefore,
in the coming years, it is estimated that the retail market in Riyadh will
increase more positively over the coming years.
Key
Segments Covered:-
Type
of Malls
Super-Regional Malls
Regional Malls
Community Center Malls
Key Target
Audience:-
Retail Project Developers
Third Party Real Estate Companies
Independent Architects
Government Associations
Government Agencies
Independent Investors
Retail Real Estate Consulting Companies
Time Period
Captured in the Report:-
Historical Period – 2013-2018
Forecast Period – 2019-2023
Riyadh
Retail Malls Case Studies Covered:-
Pure Mall
Al Oruba Square
Canary Center
Localizer Mall
Granada Center
Centria Mall
Keywords:-
Riyadh Retail Industry
Retail Market In Riyadh
Riyadh Retail Market Growth
Riyadh Retail Market Future Outlook
Riyadh Retail Market Revenue
Riyadh Retail Real Estate Market
Market Retailers in Riyadh
Retail Development in Riyadh
Retail Rental Market Prices Riyadh
Number of Bakalas in Riyadh
Retail Overview in GCC
Riyadh Retail Restaurants Rental Prices
Restaurant Spaces in Malls Riyadh
Number of Restaurants in Riyadh
Store Based Retailing in Riyadh
For more
information on the research report, refer to below link:-
Related
Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249