Saudi Arabia Real Estate Market Overview
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Growth Rate: 7.30% (2025-2033)
Saudi Arabia property sector is growing fast. This growth comes from economic diversification and bold development projects. According to the latest report by IMARC Group, the Saudi Arabia real estate market size reached USD 67.2 billion in 2024. Looking forward, IMARC Group expects the market to reach USD 126.8 Billion by 2033, exhibiting a growth rate (CAGR) of 7.30% during 2025-2033.
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Saudi Arabia Real Estate Trends and Drivers:
Saudi Arabia real estate has changed a lot in recent years. The goal of this plan is to diversify the economy and reduce reliance on oil revenues. Demand for residential units has grown in cities, especially Riyadh, Jeddah, and Dammam. Urbanization and a growing population are driving demand. Government programs like Sakani also play a role. New mortgage laws and financing options are helping citizens buy homes. This also boosts the housing market. Now, new mortgages are available for sale. On the commercial side, big projects like NEOM, the Red Sea Project, and Qiddiya are happening. These projects can attract local and global investment. This can create a domino effect in real estate. These mega-projects will change landscapes and make Saudi Arabia a global hotspot. This shift will boost demand for office spaces, retail outlets, and hotels.
Sustainability and smart city development are major trends in Saudi Arabia's real estate market. These spaces will have high environmental quality and advanced technology. King Salman Park and the Green Riyadh concept show impressive growth. They make a difference. These initiatives will enhance life. They will add green spaces, use renewable energy, and create smart infrastructure. The industrial real estate sector is growing. This is because the government is focused on boosting non-oil manufacturing and logistics. Creating SEZs and industrial cities will attract foreign investment and spark innovations. The retail sector is adjusting to change, like the rise of e-commerce. This shift is making it rethink the traditional design of malls. It is working towards mixed-use between shopping, dining, and entertainment. The Saudi real estate market is changing fast. There are many affordable investment opportunities for both end users and developers. This aligns with the Kingdom's social and economic goals.
IMARCs report provides a deep dive into the Saudi Arabia real estate market analysis, outlining the current trends, underlying market demand, and growth trajectories.
Saudi Arabia Real Estate Industry Segmentation:
The report has segmented the market into the following categories:
Breakup by Property Type:
Breakup by Region: