Saudi Arabia's economic activity is expected to rebound in 2021 and 2022 primarily on the back of increasing oil prices and higher production. Government spending on infrastructure projects as a part of the Vision 2030 program is expected to boost non-oil economic activity as well. The fiscal balance, which was severely dented due to Covid-19, is expected to improve in 2021 & beyond. Investments are expected to pick up as the Kingdom of Saudi Arabia initiates major projects like NEOM City. Steady growth in the native population, government subsidies and change in mortgage laws enabling banks to increase the number of mortgage loans extended to customers are expected to increase demand for the Saudi Arabian residential real estate. Real estate prices, which have been on a decline since 2015 are expected to stabilize due to this increased demand. Saudization policies are expected to increase job creation which are another positive for the real estate sector. The reopening of offices and tourism is expected to boost the office and commercial real estate sector in Saudi Arabia.
Who prepared this report?
Experienced and qualified team of Marmore Mena Intelligence has prepared this report. Since its inception, Marmore has published over 1000 research reports and covered more than 25 varied industries and policy segments; all focused primarily on the GCC economies.
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The report spans 28 pages
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No. This is a one off report.
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