Saudi’s real estate projects estimated at $586 billion
The value of ongoing and planned property projects…
November 8, 2009 3:26 by kippreport
The value of ongoing and planned property projects in Saudi is estimated to be worth $586 billion, according to a report by marketresearch.com. The amount represented around 128 percent of the kingdom’s GDP, the report said.
“While office rental prices have held up in Riyadh, several supply issues have placed pressure on prices in Jeddah. However, there is a consensus that these prices will recover later this year or early next year,” the report added.