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Noida, Uttar Pradesh, India, 2012/04/12 - Increasing government support and domestic market growth will drive the housing industry in Saudi Arabia in the coming years, RNCOS acknowledges - RNCOS.com.
In Saudi Arabia, the housing industry has witnessed tremendous growth during the recent years. The government’s commitment to pushing the industry along with favorable policy framework has encouraged developers to invest in the Kingdom’s housing sector. According to a new research report by RNCOS, majority of the developers in Saudi Arabia are focusing more on the affordable housing segment for lower and middle-income classes than on luxury villas and higher-end housing schemes. The housing demand in the country is projected to reach around 0.33 Million units by the end of 2014.
The report,“Saudi Arabia Housing Sector Outlook”, identifies that the Kingdom of Saudi Arabia is thriving with new mega project developments. Small-sized players, who are developing standalone properties of average value under US$ 50 Billon, rule the supply of residential properties, while large-scale residential projects are dominated by mega cities. Viewing the long-term property demand in the country, innovative residential development projects are now ongoing in North Riyadh and Jeddah. These projects are mostly divided into commercial, industrial and residential units, tourism spots and shopping malls, with the majority part occupied by residential development plans resulting into an immense growth in the sector.
The research study provides detailed analysis of the housing sector in Saudi Arabia. It presents a thorough insight into various housing segments by province, ownership, and investments. Most importantly, the report provides the sector’s future outlook taking into consideration the effect of the global economic crisis on it. Factors, opportunities, and future residential projects, which will drive the Kingdom’s housing industry, have also been discussed in detail in the comprehensive research report. It not only sheds light on the emerging trends, but also defines the market structure and elaborates the Saudi Arabia housing industry’s current and past performance.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.