Property professionals should think about moving to Jeddah
Q3 2011 sees Jeddah’s real estate market enjoy the effects of additional government funds for housing as prices increase in retail and residential space; office space expected to drop, though.
November 16, 2011 3:31 by Precious de Leon
…Hajj will provide a further boost to the sector over the remainder of 2011.
The first three quarters of 2011 showed a marked improvement in hotel occupancies with rates increasing 5 percent year-on-year. Growth in business travel is expected to fuel hotel demand in the city. A strong Ramadan Umrah season over the summer reinforced Jeddah’s hospitality sector performance and the city looks well positioned to benefit from increasing domestic tourism over the long term.
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