Housing demand in Saudi to grow to 5.6 million units by 2014
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Housing demand in Saudi to grow to 5.6 million units by 2014

Housing demand in Saudi to grow to 5.6 million units by 2014

A study by Saudi-based Jiwar Real Estate Management & Marketing has showed that the kingdom will need around 1 million new homes over the next five years to keep up with an estimated 3.3% compound annual growth rate in demand. The residential sector has grown substantially to account for 70% of Saudi Arabia's real estate market, with the remaining 30% being distributed among offices, retail outlets, hospitality and industrial sectors, the report said.

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    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

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