Complex Made Simple

Saudi real estate supply-demand gap narrowing

Real estate consultancy Jones Lang LaSalle has said the gap between housing demand and supply in Saudi Arabia is narrowing, as banks start to lend and government support boosts sector development, Reuters has reported. Housing supply in the biggest Arab economy had been restricted over the past three years, with investors and banks reluctant to invest in real estate projects after the global financial crisis, said director of Jones Lang LaSalle in Saudi Arabia, John Harris. "I can't quantify how far we closed the gap but if we had a shortfall by half, maybe it is only a quarter now; the gap is closing," he said.