Saudi Real Estate Company has signed an agreement with Alinma Investment, a unit of Alinma Bank, to jointly buy 1.8 billion riyals ($480 million) of land in Riyadh, it said in a statement on Monday.
The company did not name the se
A total of 85 real estate funds with total assets valued at SR25.5 billion ($6.8 billion) were operating in Saudi Arabia by the end of 2013, a report said.
All public real estate funds achieved a positive performance during the ye
Rental rates in Riyadh’s office sector could drop by 3 per cent due to extreme oversupply, a report said, adding that rates are likely to remain static in the retail and industrial sector in 2014.
Meanwhile, rental rates in
Top oil exporter Saudi Arabia will weather a tough real estate market in 2009 thanks to demand for residential property, outperforming a downward trend in the rest of the Gulf, Moody's Investors Service said on Wednesday.
Demand on Saudi Arabia's real estate market will not falter as high oil prices help shield the world's top-oil exporter from the global liquidity squeeze, Emaar's Saudi unit chief executive said.
'Saudi Arabia is more immun
Investments in excess of SR680 billion ($180 billion) will be required to meet the growing demand for residential units in Saudi Arabia, which is expected to top 1.3 million units over the next seven years, according to a report.