Colliers International, the global real estate consultancy, has launched comprehensive Saudi Arabia Real Estate Overview that provides comparative key performance indicators across 4 areas - Riyadh, Jeddah, Mecca and the Eastern Province. According to the report, the demand-supply dynamic remains very positive with robust economic growth patterns set to continue underpinned by high oil prices and rapid industrial expansion promoted by accession to the World Trade Organization (WTO).
Imad Damrah, Country Director Saudi Arabia, Colliers International, said, "Saudi Arabia is an interesting market to watch because it has one of the most inwardly serving property sectors in the MENA region. The kingdom remains a prime opportunity for investors and developers offering the largest market in the GCC and a population set to grow from 25 million to 33 million by 2020."
While Dubai and Abu Dhabi remain the region's largest property centers, Saudi Arabia is emerging as the real estate market to watch. Although perception of the country is mixed about accessibility for investors, the kingdom's continuing efforts at refining its investment environment earned it the top regional ranking in the World Bank's 2009 Doing Business Report. According to Colliers, Saudi Arabia offers growth potential across all industry sectors and an encouraging outlook for the future.
