Saudi Arabia Real Estate Market Introduction and Overview
According to SPER Market Research, the Saudi Arabia Real Estate Market is estimated to reach USD 139.28 Billion by 2033 with a CAGR of 8.2%.
The report includes an in-depth analysis of the Saudi Arabia Real Estate Market, including market size and trends, product mix, applications, and supplier analysis. Purchasing and selling land and structures, including any long-term man-made additions like homes and other buildings, is known as real estate. Land, buildings, and natural resources are examples of physical assets that are considered real estate. These assets are frequently purchased or invested in for usage in residential, commercial, or industrial settings.
- May 2023- The assets of ABANA Enterprises Group Company related to the transportation of cash and expensive commodities are being acquired by the National Security Services Company (SAFE), which is spearheading the restructuring of the local security services industry. In the Kingdom, ABANA Enterprises Group Company is at the forefront of offering these services. By acquiring the assets of ABANA Enterprises Group Company related to the transportation of money and valuables, SAFE will be able to fulfil its main objective of offering clients the most cutting-edge security products and services.
- July 2022- The board of SEDCO Capital REIT Fund has approved the purchase of two income-producing real estate assets in Riyadh and Jeddah for SR700 million (USD 187 million). According to a bourse filing, this transaction will be financed by new units and by using banking facilities in compliance with the terms and circumstances of the Fund. As it strives to increase the value of both its portfolio and its unitholders, the Fund anticipates that this transaction will have a favourable effect on its overall performance.
Market Opportunities and Challenges
The Saudi Arabian real estate industry is beset with a number of obstacles as well as multiple driving forces. The nation's massive Vision 2030 effort, which seeks to diversify the economy away from oil dependency and promote growth in the real estate industry through large-scale infrastructure development projects, is one of the main motivators. In addition, there is a need for residential, commercial, and mixed-use real estate due to the expanding population and fast urbanisation. Reforms pertaining to foreign direct investment (FDI) and measures to facilitate corporate transactions draw in foreign investors as well, hence accelerating market expansion.
On the other hand, the market faces difficulties such economic instability brought on by volatile oil prices, which can affect project finance and investor confidence. Administrative expenses might rise and project approval times can be slowed down by bureaucratic and regulatory obstacles. Furthermore, because of the economic uncertainty caused by the COVID-19 epidemic, development activities have been hampered and real estate demand has decreased. Furthermore, some population segments continue to express concerns about affordability, particularly in the housing sector where high prices relative to income levels prevent access to homeownership. Sustaining expansion in the Saudi Arabian real estate sector will require addressing these obstacles and leveraging key drivers.
Market Competitive Landscape
In Saudi Arabia, the real estate industry is extremely competitive, and more than 95% of regional developers still use antiquated techniques. There is a need for premium office space, as evidenced by the government's mandate that international companies move their headquarters to Saudi Arabia. It is anticipated that this dynamic would lead to fierce competition, forcing businesses to embrace worldwide standards in order to stay competitive. The major key players in the Saudi Arabia Real Estate Market are: Abdul Latif Jameel, Al Saedan Real Estate, Dar Al Arkan, Emaar, Ewaan Co. Ltd, Jabal Omar, Jenan Real Estate Company, Kingdom Holding Company, Sedco Development, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Property Type
|
| Regions covered | Eastern Region, Northern and Central Region, Southern Region, Western Region
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| Companies Covered | Abdul Latif Jameel, Al Saedan Real Estate, Dar Al Arkan, Emaar, Ewaan Co. Ltd, Jabal Omar, Jenan Real Estate Company, Kingdom Holding Company, Sedco Development, Others |
COVID-19 Impact on Saudi Arabia Real Estate Market
The COVID-19 pandemic has caused significant disruptions in construction activity, project schedules, and transaction volumes in the Saudi Arabian real estate industry. Property sales and leasing activities were hindered by lockdown measures and economic uncertainty. Travel restrictions also made it more difficult for foreign investors to enter the sector. Nonetheless, the recession hastened the industry's digitalization, as evidenced by the rise in internet transactions and virtual property viewings. In summary, the pandemic brought about difficulties but also accelerated technological development in the Saudi real estate industry.
Key Target Audience
- Homebuyers
- Investors
- Real Estate Agents
- Financial Institutions
- Commercial Tenants
- Property Management Companies
- Architects and Designers
- Real Estate Technology Companies
- Others
Our in-depth analysis of the Saudi Arabia Real Estate Market includes the following segments:
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By Property Type:
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Commercial Real Estate
- Hospitality
- Offices
- Retail
- Others
Residential Real Estate
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By Region:
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Eastern Region
Northern and Central Region
Southern Region
Western Region
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Key Topics Covered in the Report
- Saudi Arabia Real Estate Market Size (FY’2024-FY’2033)
- Overview of Saudi Arabia Real Estate Market
- Segmentation of Saudi Arabia Real Estate Market By Property Type (Commercial Real Estate, Residential Real Estate)
- Statistical Snap of Saudi Arabia Real Estate Market
- Expansion Analysis of Saudi Arabia Real Estate Market
- Problems and Obstacles in Saudi Arabia Real Estate Market
- Competitive Landscape in the Saudi Arabia Real Estate Market
- Impact of COVID-19 and Demonetization on Saudi Arabia Real Estate Market
- Details on Current Investment in Saudi Arabia Real Estate Market
- Competitive Analysis of Saudi Arabia Real Estate Market
- Prominent Players in the Saudi Arabia Real Estate Market
- SWOT Analysis of Saudi Arabia Real Estate Market
- Saudi Arabia Real Estate Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Saudi Arabia Real Estate Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Saudi Arabia Real Estate Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Saudi Arabia Real Estate Market
7. Saudi Arabia Real Estate Market, By Property Type (USD Million)
7.1. Saudi Arabia Real Estate Market Value Share and Forecast, By Property Type, 2024-2033
7.2. Commercial Real Estate
7.2.1. Hospitality
7.2.2. Offices
7.2.3. Retail
7.2.4. Others
7.3. Residential Real Estate
7.3.1. Apartments
7.3.2. Villas
7.3.3. Others
8. Saudi Arabia Real Estate Market Forecast, 2020-2033 (USD Million)
8.1. Saudi Arabia Real Estate Market Size and Market Share
9. Saudi Arabia Real Estate Market, By Property Type, 2020-2033 (USD Million)
9.1. Saudi Arabia Real Estate Market Size and Market Share By Property Type (2020-2026)
9.2. Saudi Arabia Real Estate Market Size and Market Share By Property Type (2027-2033)
10. Saudi Arabia Real Estate Market, By Region, 2020-2033 (USD Million)
10.1. Saudi Arabia Real Estate Market Size and Market Share By Region (2020-2026)
10.2. Saudi Arabia Real Estate Market Size and Market Share By Region (2027-2033)
10.3. Eastern Region
10.4. Northern and Central Region
10.5. Southern Region
10.6. Western Region
11. Company Profile
11.1. Abdul Latif Jameel
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. Al Saedan Real Estate
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. Dar Al Arkan
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. Emaar
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. Ewaan Co. Ltd
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. Jabal Omar
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. Jenan Real Estate Company
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. Kingdom Holding Company
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. Sedco Development
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. Others
12. List of Abbreviations
13. Reference Links
14. Conclusion
15. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
