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
Saudi Arabia Real Estate Market Size Set to Build High Rise at Steady CAGR of 5.56% to Touch Stellar Value of USD 247.2 Billion by 2030
Saudi Arabia Real Estate Market is flourishing because of the economic diversification efforts and large-scale infrastructure projects and streamlined regulations and improved transparency.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Saudi Arabia Real Estate Market size at USD 169.23 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Saudi Arabia Real Estate Market size to expand at a CAGR of 5.56% reaching a value of USD 247.18 billion by 2030. Growing housing demand and an increase in residential building construction in the Kingdom are key drivers of the Saudi Arabia Real Estate Market. The Saudi Government's goal of economic diversification is fueling the country's real estate sector overall by increasing demand for commercial and industrial premises.
Opportunity – Government’s support and favorable policies
The Saudi Government’s support and favorable regulations are major driving factors influencing the growth of the Saudi Arabia Real Estate Market. The economic diversification plan of Saudi Arabia, Vision 2030, is shifting the government’s focus from the oil sector to other infrastructural development, such as the construction of residential and commercial facilities. The Saudi Government aims to boost house ownership by Saudi nationals from 63.74% in 2023 to 70% by 2030, as reported by Economy Middle East. Riyadh is also planning to open the purchase of property by foreigners, according to local media, which is anticipated to drive the Saudi Arabia Real Estate Market during the period in analysis.
Saudi Arabia Real Estate Market
Segmental Coverage
Saudi Arabia Real Estate Market – By Service
Based on service, the Saudi Arabia Real Estate Market is segmented into property management, valuation services, and other services (advisory services and leasing). The property management segment dominates the Saudi Arabia Real Estate Market. Property management services act 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 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.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Saudi Arabia Real Estate Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Saudi Arabia Real Estate Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. Saudi Arabia Real Estate Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Economic Diversification Efforts and Large-Scale Infrastructure Projects
- 3.2.1.2. A Young and Growing Population
- 3.2.1.3. Government Initiatives
- 3.2.1.4. Streamlined Regulations and Improved Transparency
- 3.2.2. Restraints
- 3.2.2.1. Complex Regulations and Frequent Changes in Laws
- 3.2.2.2. Market Oversupply, Especially in the Residential Sector
- 3.2.2.3. High Costs of Financing and Challenging Mortgage Approval Processes
- 3.2.3. Opportunities
- 3.2.3.1. Diversification of Investments across Sectors and Regions
- 3.2.3.2. Adoption of Modern Technologies like Smart Buildings and Data Analytics
- 3.2.3.3. Changing Consumer Preferences for Amenity-Rich, Sustainable Properties
- 3.2.4. Challenges
- 3.2.4.1. Lack of Market Transparency and Limited Data Availability
- 3.2.4.2. Adapting to Rapidly Evolving Consumer Preferences
- 3.2.4.3. Deficits in Modern Infrastructure like Smart Home Features and High-Tech Facilities need to be Addressed
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
- 4. Saudi Arabia Real Estate Market: Marketing Strategies
- 5. Saudi Arabia Real Estate Market Overview
- 5.1. Market Size & Forecast, 2019–2030
- 5.1.1. By Value (USD Billion)
- 5.2. Market Share and Forecast
- 5.2.1. By Property Type
- 5.2.1.1. Residential
- 5.2.1.1.1. Apartments
- 5.2.1.1.2. Condominiums
- 5.2.1.1.3. Villas
- 5.2.1.1.4. Landed Houses
- 5.2.1.2. Commercial
- 5.2.1.2.1. Office Spaces
- 5.2.1.2.2. Retail Outlets
- 5.2.1.2.3. Industrial Real Estate
- 5.2.1.3. Others
- 5.2.1.3.1. Industrial
- 5.2.1.3.2. Hospitality
- 5.2.1.3.3. Others
- 5.2.2. By Service
- 5.2.2.1. Property Management
- 5.2.2.2. Valuation Services
- 5.2.2.3. Others (Advisory Services, Leasing)
- 6. Competitive Landscape
- 6.1. List of Key Players and Their Offerings
- 6.2. Saudi Arabia Real Estate Market Share Analysis, 2023
- 6.3. Competitive Benchmarking, By Operating Parameters
- 6.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- 7. Impact of Escalating Geopolitical Tension on Saudi Arabia Real Estate Market
- 8. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- 8.1. Jenan Real Estate Company
- 8.2. Sedco Development
- 8.3. Jabal Omar
- 8.4. Kingdom Holding Company
- 8.5. Abdul Latif Jameel
- 8.6. Dar Ar Alkan
- 8.7. JLL Riyadh
- 8.8. Century21 Saudi Arabia
- 8.9. Saudi Real Estate Company
- 8.10. Other Prominent Players
- 9. Key Strategic Recommendations
- 10. Research Methodology
- 10.1. Qualitative Research
- 10.1.1. Primary & Secondary Research
- 10.2. Quantitative Research
- 10.3. Market Breakdown & Data Triangulation
- 10.3.1. Secondary Research
- 10.3.2. Primary Research
- 10.4. Breakdown of Primary Research Respondents
- 10.5. Assumptions & Limitations
- *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
Research Assistance
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