Which Gulf country is best for real estate?

74 0 Updated: 04/11/2023 11:48:44 Listed: 06/05/2023 Report WEB ID: 2933

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UAE was regarded as the best country to attract real-estate investments from others Gulf estates, with Saudi Arabia ranking fourth.

Dubai real estate market:

In addition, Dubai in particular is leading the charge, with an abundance of property deals carrying over momentum from 2022. In the last week alone, the emirate registered 3,903 real estate transactions worth approximately $2.8 billion, according to data by the Dubai Land Department (DLD).

Competition among Gulf states to attract real-estate investments ;

10 Best Middle East Cities To Do Business: Dubai, United Arab Emirates · Doha, Qatar · Abu Dhabi, United Arab Emirates · Cairo, Egypt · Amman, Jordan · Beirut, Lebanon · Riyadh, Saudi Arabia.

Which Arab country is cheapest to buy property?

Saudi Arabia Most Affordable Country in the World to Buy a Home - WORLD PROPERTY JOURNAL Global News Center.

 

Top GCC real estate trends to track in 2023

Real estate sale transactions in the GCC between January and October 2022 totaled $143.1 billion. Dubai and Abu Dhabi contributed to over 48 percent of the aggregate value transacted, Kamco Invest said in December 2022.

  • Middle East Real Estate Market 2023

The economies of GCC countries are expected to continue to record strong rates of growth in 2023. Both the hydrocarbon and non-hydrocarbon sectors are expected to continue to provide material contributions to headline growth rates. The average GDP growth across GCC countries in 2023 is set to reach 2.7%.

  1. Real Estate Projects

    Total value of real estate projects planned or underway in the GCC currently stands at $1.36 trillion. Saudi Arabia accounted for 64.5% of this total, equating to around $877 billion worth of projects. This is followed by the UAE, where its $293 billion worth of projects account for 21.6% of the total.
  2. Residential

    Residential markets in the region will likely see somewhat fragmented performance in 2023, supply gluts in certain markets will drive down performance, whereas lack of supply in key business hubs such as Dubai and Riyadh is likely to mean these markets outperform.
  3. Hotels

    We expect that this will be the first full year which does not have pandemic related restrictions and as a result, in most parts, we forecast that KPIs will continue to improve and will by year-end almost uniformly surpass 2019 levels.

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