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Saudi real estate is “the Gulf’s powerhouse,” states Jones Lang LaSalle

Saudi real estate is “the Gulf’s powerhouse,” states Jones Lang LaSalle

Plus, Kuwaiti Cabinet ministers resigned on Tuesday, Arabtec shares soar almost 15 percent, Turkey wants to up trade with Saudi, Italian party offers $1,900 to name babies after Mussolini

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November 26, 2008 12:00 by





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2 Comments

  1. abu faruqi on November 26, 2008 10:09 am

    saudi real estate as “gulf powerhouse”? I really agreed with this remark or finding by Jones. Saudi should learn from other countries mistake by letting speculators to control the property market especially on the residential sectors because this will unnecessarily inflate the residential prices. The expected total residential demand between 500k – 1mill over the 5 year period would leave many business potential to many stakeholders especilly the cement, steel etc as well as financial services sector. Again let control the speculator from setting the real estate price to avoid the same mistake made by the sub-prime crisis and property over hang situation in your neighbouring countries. yalla………

     
  2. Nauman on November 26, 2008 10:59 am

    Its a tricky situation for the Saudi market to emerge as a realty powerhouse next. Speculators early on drive the interest until maturity and stability or worse a downturn as we are experiencing comes in

    so its a double edged sword that has to be managed at a macro level by the authorities and also controlling the sub-mortaging element to set in early. Demand should be realistic with an adequate supply built to meet end user needs first. Investors will benefit from its mid to long term returns offered

     

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