Saudi Arabia Real Estate Market
Saudi Arabia Real Estate Market, By Property Type (Residential, Commercial, Others); By Service (Property Management, Valuation Services, Others (Advisory Services, Leasing), Trend Analysis, Competitive Landscape & Forecast, 2019–2030
- Published Date: June 2024
- Report ID: BWC24432
- Available Format: PDF
- Page: 200
Report Overview
The Saudi Government’s heightened focus on economic diversification efforts and large-scale infrastructure projects, streamlined regulations, and improved transparency is expected to boost the growth of Saudi Arabia Real Estate Market during the forecast period between 2024 and 2030.Saudi Arabia Real Estate Market - Industry Trends & Forecast Report, 2030
The Saudi Arabia Real Estate Market size was estimated to be worth USD 169.23 billion in 2023. During the forecast period between 2024 and 2030, the Saudi Arabia Real Estate Market size is projected to grow at a CAGR of 5.56%, reaching a value of USD 247.18 billion by 2030. Major growth factors for the Saudi Arabia Real Estate Market include increasing housing demands and rising construction of residential spaces in the Kingdom. The Saudi Government aims towards economic diversification, because of which the demand for commercial and industrial spaces is also rising, driving the overall Saudi Arabia Real Estate Market.
Real Estate – Overview
Real estate is the land plus any improvements, whether natural or human-made, that are permanently affixed to the property, such as homes. It is suitable for commercial, industrial, and domestic applications. The five primary categories of real estate are raw land, commercial, industrial, residential, and special use. Real estate professionals, such as realtors or real estate agents, frequently assist in the purchasing, selling, and leasing of properties within the real estate market. These experts guide people and organizations through the intricacies of the real estate transaction process.
Saudi Arabia Real Estate Market
Growth Drivers
Rising Integration of Emerging Technologies in Real Estate Sector
The real estate companies in Saudi Arabia are increasingly adoption advanced technologies, such as Artificial Intelligence (AI) and machine learning (ML) to improve their services and advance customer satisfaction. Devices connected to the Internet of Things (IoT) provide useful information on building performance, occupancy trends, and maintenance requirements. Another technology which is gaining significant traction in the sector is augmented reality which allow property owners to see furnishings in their houses or witness improvements before they are completed. Such tools allow potential buyers to access crucial and detailed information before making the decision, which is anticipated to provide lucrative growth opportunities to the Saudi Arabia Real Estate Market over the forecast period.
Challenges
High Volatility in Real Estate Sector
Economic downturns and volatilities may cause a decline in the demand for real estate, a stagnation of property values, and a rise in rivalry among real estate companies. In addition, rapidly changing laws, regulations, and rules governing real estate transactions also negatively impact the sector. It may be difficult to navigate complicated zoning rules, property rights, and environmental restrictions; this is one of the main things holding back the growth of the Saudi Arabia Real Estate Market.
Saudi Arabia Real Estate Market
Segmental Coverage
Saudi Arabia Real Estate Market – By Property Type
Based on property type, the Saudi Arabia Real Estate Market is segmented into Residential, Commercial, and others. The residential segment is further divided into apartments, condominiums, villas, and landed houses. The commercial segment is further divided into office spaces, retail outlets, and industrial real estate. The other property types include industrial, hospitality, and others. The residential segment holds the largest share in the Saudi Arabia Real Estate Market owing to the rising population and migration to major cities.
Saudi Arabia Real Estate Market – By Service
Based on service, the Saudi Arabia Real Estate Market is segmented into Property Management, Valuation Services, and others (including Advisory Services and Leasing). The property management segment dominates the Saudi Arabia Real Estate Market, as it acts as a link between the landlord and the renter and overlook various responsibilities, such as financial management, legal compliance, property maintenance, screening tenants, and handling taxes. The increasing demand for housing elevates the need for property management to handle these operations, which drives the segment’s market growth.
Competitive Landscape
Major players operating in the Saudi Arabia Real Estate Market include Jenan Real Estate Company, Sedco Development, Jabal Omar, Kingdom Holding Company, Abdul Latif Jameel, Dar Ar Alkan, JLL Riyadh, Century21 Saudi Arabia, and Saudi Real Estate Company.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Recent Developments
- In May 2024 – Mohammad Al-Nahdi Real Estate, a real estate agency based in KSA, and Alinma Investment, an investment company, launched USD 365 million in funds to boost real estate development in the Eastern Province of Saudi Arabia.
Scope of the Report
Attributes |
Details |
Years Considered |
Historical Data – 2019–2023 |
Base Year – 2023 |
|
Estimated Year – 2024 |
|
Forecast Period – 2024–2030 |
|
Facts Covered |
Revenue in USD Billion |
Product/ Service Segmentation |
Property Type, Service |
Key Players |
Jenan Real Estate Company, Sedco Development, Jabal Omar, Kingdom Holding Company, Abdul Latif Jameel, Dar Ar Alkan, JLL Riyadh, Century21 Saudi Arabia, Saudi Real Estate Company |
By Property Type
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Residential
-
Apartments
-
Condominiums
-
Villas
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Landed Houses
-
Commercial
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Office Spaces
-
Retail Outlets
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Industrial Real Estate
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Others
-
Industrial
-
Hospitality
-
Others
By Service
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Property Management
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Valuation Services
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Others (Advisory Services, Leasing)
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- Saudi Arabia Real Estate Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Economic Diversification Efforts and Large-Scale Infrastructure Projects
- A Young and Growing Population
- Government Initiatives
- Streamlined Regulations and Improved Transparency
- Restraints
- Complex Regulations and Frequent Changes in Laws
- Market Oversupply, Especially in the Residential Sector
- High Costs of Financing and Challenging Mortgage Approval Processes
- Opportunities
- Diversification of Investments across Sectors and Regions
- Adoption of Modern Technologies like Smart Buildings and Data Analytics
- Changing Consumer Preferences for Amenity-Rich, Sustainable Properties
- Challenges
- Lack of Market Transparency and Limited Data Availability
- Adapting to Rapidly Evolving Consumer Preferences
- Deficits in Modern Infrastructure like Smart Home Features and High-Tech Facilities need to be Addressed
- Growth Drivers
- Technological Advancements/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Saudi Arabia Real Estate Market: Marketing Strategies
- Saudi Arabia Real Estate Market Overview
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share and Forecast
- By Property Type
- Residential
- Apartments
- Condominiums
- Villas
- Landed Houses
- Commercial
- Office Spaces
- Retail Outlets
- Industrial Real Estate
- Others
- Industrial
- Hospitality
- Others
- Residential
- By Service
- Property Management
- Valuation Services
- Others (Advisory Services, Leasing)
- By Property Type
- Market Size & Forecast, 2019–2030
- Competitive Landscape
- List of Key Players and Their Offerings
- Saudi Arabia Real Estate Market Share Analysis, 2023
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- Impact of Escalating Geopolitical Tension on Saudi Arabia Real Estate Market
- Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- Jenan Real Estate Company
- Sedco Development
- Jabal Omar
- Kingdom Holding Company
- Abdul Latif Jameel
- Dar Ar Alkan
- JLL Riyadh
- Century21 Saudi Arabia
- Saudi Real Estate Company
- Other Prominent Players
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents
- Assumptions & Limitations
- Qualitative Research
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
List of Figures
Figure 1 Saudi Arabia Real Estate Segmentation
Figure 2 Saudi Arabia Real Estate Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2023
Figure 4 Saudi Arabia Real Estate Market Size, By Value (USD Billion), 2019–2030
Figure 5 Saudi Arabia Real Estate Market Share, By Property Type, By Value, 2019–2030
Figure 6 Saudi Arabia Real Estate Market Share, By Service, By Value, 2019–2030
List of Tables
Table 1 Saudi Arabia Real Estate Market Size, By Value (USD Billion), 2019–2030
Table 2 Saudi Arabia Real Estate Market Share, By Property Type, By Value, 2019–2030
Table 3 Saudi Arabia Real Estate Market Share, By Service, By Value, 2019–2030
Table 4 Jenan Real Estate Company: Company Overview
Table 5 Jenan Real Estate Company Financial Overview
Table 6 Sedco Development Company Overview
Table 7 Sedco Development Financial Overview
Table 8 Jabal Omar Company Overview
Table 9 Jabal Omar Financial Overview
Table 10 Kingdom Holding Company: Company Overview
Table 11 Kingdom Holding Company Financial Overview
Table 12 Abdul Latif Jameel Company Overview
Table 13 Abdul Latif Jameel Financial Overview
Table 14 Dar Ar Alkan Company Overview
Table 15 Dar Ar Alkan Financial Overview
Table 16 JLL Riyadh Company Overview
Table 17 JLL Riyadh Financial Overview
Table 18 Century21 Saudi Arabia Company Overview
Table 19 Century21 Saudi Arabia Financial Overview
Table 20 Saudi Real Estate Company: Company Overview
Table 21 Saudi Real Estate Company Financial Overview
Market Segmentation
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