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Development of the real estate sector in Saudi Arabia is important for the economy
Nov 6, 2023
Development of the real estate sector in Saudi Arabia is important for the economy Riyadh
By   Internet
  • City News
  • Saudi Arabia Real Estate
  • Saudi Arabia Housing Market
  • Housing Market Trends
Abstract: The real estate market plays a crucial role in the Saudi economy, providing not only a stable economic foundation but also driving urban development and infrastructure improvements.

With the reimagination of urban living by the Saudi people and the push for extensive multi-asset class development projects, the value of the real estate market continues to grow, contributing approximately 7% to the annual GDP.


As one of the largest multi-asset class real estate developers in Saudi Arabia, the ROSHN Group aims to contribute to achieving the goals of the Vision 2030 by increasing Saudi Arabia's homeownership rate and enhancing the overall quality of life in the country.


Their project pipeline is unprecedented in scale and scope, covering over 200 million square meters of land reserves across nine provinces in Saudi Arabia, developing high-quality residential, healthcare, education, sports, leisure, and entertainment infrastructure.

Development of the real estate sector in Saudi Arabia is important for the economy

The ROSHN Group's mega real estate projects have had a positive impact on the Saudi economy. Firstly, the growth of the real estate sector has stimulated the development of the domestic supply chain market, industries, businesses, services, and products, providing impetus for achieving the goals of the Vision 2030.


Secondly, the implementation of real estate projects has fostered collaborations with private sector suppliers, sub-developers, factories, infrastructure, and technology providers within the supply chain, driving local economic recovery and an increase in employment opportunities.


Furthermore, the development of the real estate industry has attracted foreign direct investment (FDI) and mature private sector participants to Saudi Arabia, contributing to an increase in FDI's contribution to the GDP. Foreign investment has not only brought in capital but also promoted the stability of the financial market and the overall economy.


The real estate industry in Saudi Arabia also supports economic growth by creating employment opportunities, increasing disposable income, and supporting the development of auxiliary service industries such as retail, hospitality, and transportation.


Simultaneously, the development of the real estate sector has facilitated the construction of modern smart cities, entertainment hubs, and commercial centers, enhancing Saudi Arabia's international competitiveness.

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Development of the real estate sector in Saudi Arabia is important for the economy
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