KSA Real Estate Service Market Outlook to 2026F

The report titled “KSA Real Estate Service Market Outlook to 2026F – Driven by Development towards Vision 2030 and Sustainable Smart City Developments” provides a comprehensive analysis on the real estate services market in KSA. The report covers various aspects such as KSA real estate services such as Market Introduction, Ecosystem, and Market Sizing, market Segmentation basis region, segmentation by services and by Industry. We have covered Industry analysis in detail specifically SWOT, Growth Drivers, Tech Innovation, Key Trends, Government Innovations, Issues and Challenges and others. Competitive landscape for Industry is covered in detail along with deep dive on understanding COVID impact analysis. The research focuses on covering future outlook and projections along with future projections for the next five years The report also includes major macroeconomic indicators.

This report helps reader to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years.

KSA Real Estate Services Market

Due to COVID-19, the KSA economy was negatively impacted in many ways, including low global oil prices and crude production, which depressed oil exports and government fiscal receipts. Emergency health spending and government support programs also added to the fiscal pressures. The government is offering incentives to foreign companies planning to work in the KSA market and contribute to the growth of the sector and the overall economy. It has put in place regulations and controls for the foreign investor to ensure that the desired goals are achieved, and investors' rights are preserved.

The pandemic led to a slowdown in the demand for Real Estate services in the short term, which is evident by drop in 2020 by 4.5% compared to pre pandemic level. However, Post pandemic, KSA Real estate Market recovered and is growing at a faster rate than pre- pandemic level. KSA Real Estate Services Market is expected to grow at a much faster pace; primary reason being the adoption of such services in order to expedite the KSA Vision 2030, a strategic framework to reduce KSA's dependence on oil, diversify its economy, and develop public service sectors such as health, education, infrastructure, recreation, and tourism 

Market Segmentation

By Type of Projects: Owing to the establishment of numerous international corporations in the Riyadh and Jeddah regions, the office or workspace solutions have gained traction among commercial real estate services solutions followed by Industrial and logistics. 

By Region: Riyadh is the highest contributor by region, at 30% followed by Jeddah, DMA, Makkah & Medina and others. Although the hospitality sector is driven by Makkah which contributes around 50-60% of the revenue in the same, being the holiest of Muslim cities and the presence of Islamic pilgrimage.

By Services: Riyadh being the being the commercial and corporate hub of the country contributes to the highest share in the revenue, primary reason being the adoption of such services in order to expedite the KSA Vision 2030, a strategic framework to reduce KSA's dependence on oil, diversify its economy, and develop public service sectors such as health, education, infrastructure, recreation, and tourism. 

By Industry: Developments in the residential industry has been maximum in the year 2021, followed by hospitality sector which boomed after the COVID-19 due to high tourist footfall in the Makkah & medina regions (Haj pilgrimage)

Trends & Developments

The KSA government is creating smart and sustainable cities to protect the environment while maintaining a perfect balance between economic and social development. With the help of automation and modern data-driven technology, Real Estate services are able to benefit from sustainable smart city projects. KSA intends to transform its cities into smart cities by including sustainability and technological integration into the buildings, which will boost the KSA Real Estate Service market throughout the forecast period.

Future Potential

Adoption of various projects in order to expedite the KSA vision 2030 to reduce KSA’s dependence on oil, diversify its economy, and develop public service sectors. Investments referred to by the Board as "giga-projects" are multifaceted, unique in scope and ambition, and designed to stimulate overall economic growth and add significant value to the economy and its sectors. KSA’s giga-projects, designed to create new ecosystems and unlock new sectors, are heavily facilitated and promoted by technology and knowledge. Due to their sheer size, giga-projects help to diversify the economy away from oil by stimulating the economy and expanding beyond the real estate and infrastructure sectors. There are currently four giga-projects in the Kingdom.

Key Topics Covered in the Report

• KSA Real Estate Services Market Overview
• KSA Real Estate Services Market Size
• KSA Real Estate Services Market Ecosystem
• Market Ecosystem
• Value chain Analysis
• Decision Making Parameters for Customers
• Market Size for KSA Real Estate Services
• Market Segmentation for KSA Real Estate Service
• SWOT Analysis
• Issues and Challenges
• Key Trends in KSA Real Estate Services Market
• Issues and Challenges in KSA Real Estate Services Market
• Competition Framework
• COVID-19 Impact
• Future Outlook and Projections