Saudi Arabia Commercial Real Estate Market Booming to Surpass Value of USD 37.2 Billion by 2030

Published | 27 September 2024

Saudi Arabia Commercial Real Estate Market is flourishing due to the government support, an increasing number of infrastructure development projects, and ongoing economic diversification.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Saudi Arabia Commercial Real Estate Market size by value at USD 21.05 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Saudi Arabia Commercial Rel Estate Market size to expand at a CAGR of 8.48% reaching a value of USD 37.21 billion by 2030. The Commercial Real Estate Market in Saudi Arabia is propelled by the government's ongoing investments in mega projects and the expansion of the entertainment sector are fueling demand for commercial real estate. Vision 2030 initiatives, such as international tourist e-visas, are enhancing the country's competitiveness, positively impacting real estate growth. The hospitality sector is leading the way in development, while the office market is expected to rebound as business conditions improve, bolstered by major projects like Riyadh's metro and King Salman Energy Park. Moreover, the expansion of King Abdulaziz International Airport is expected to stimulate real estate growth, particularly in Riyadh.

Sample Request @ https://www.blueweaveconsulting.com/report/saudi-arabia-commercial-real-estate-market/report-sample

Retail Spaces Segment Holds Largest Market Share in Saudi Arabia

The retail spaces segment accounts for the largest share of Saudi Arabia Commercial Real Estate Market by type. Saudi Arabia's retail real estate market is booming, fueled by a surge in technology-driven innovation. Riyadh, in particular, has witnessed a remarkable transformation, with a diverse array of retail outlets catering to every taste. The relaxation of government restrictions on dining and entertainment has further boosted foot traffic in shopping destinations. As e-commerce continues gaining momentum, brick-and-mortar retailers respond by elevating customer experiences with enhanced amenities and offerings. Riyadh's retail Gross Leasable Area (GLA) reached a staggering 3.3 million square meters in Q3 2022, with developments like Lumiere Centre setting the pace. High-quality retail centers are driving growth and attracting a wide range of consumers. The other major segments in Saudi Arabia Commercial Real Estate Market by type include office spaces, industrial and logistics, hospitality, hospitals, clinics, and educational institutions.

Impact of Escalating Geopolitical Tensions on Saudi Arabia Commercial Real Estate Market

Saudi Arabia Commercial Real Estate Market may face significant challenges from intensifying geopolitical tensions across the world. Political instability and conflicts can significantly disrupt the commercial real estate sector. Investor confidence may erode, international partnerships may be delayed, and materials and construction costs may increase. Sanctions or trade restrictions can exacerbate these challenges by limiting access to essential resources and foreign capital. Additionally, heightened regional tensions may divert government focus and spending away from real estate projects toward defense or crisis management. Such uncertainties can hinder ongoing developments and create a volatile environment, ultimately hampering the overall growth of the Commercial Real Estate Market in Saudi Arabia.

Competitive Landscape

Saudi Arabia Commercial Real Estate Market is fragmented, with numerous players serving the market. The key players dominating Saudi Arabia Commercial Real Estate Market include Dar Al Arkan Real Estate, Jenan Real Estate Company, SEDCO Development, Jabal Omar Development, Abdul Latif Jameel, JLL Riyadh, Century 21 Saudi Arabia, and Emaar Properties. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.

Don’t miss the business opportunity of Saudi Arabia Commercial Real Estate Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The report's in-depth analysis provides information about growth potential, upcoming trends, and Saudi Arabia Commercial Real Estate Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Saudi Arabia Commercial Real Estate Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

Scope of the Report

About Us

BlueWeave Consulting provides all-inclusive Market Intelligence (MI) Solutions to businesses regarding various products and services online & offline. We offer comprehensive market research reports by analyzing qualitative and quantitative data to boost your business solution's performance. BlueWeave has built its reputation by delivering quality inputs and nourishing long-lasting relationships with its clients. We are a promising digital MI solutions company providing agile assistance to make your business endeavors successful.

Contact Us:

BlueWeave Consulting & Research Pvt Ltd

+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662

info@blueweaveconsulting.com