Over the years, property investments have proven to be stable, and are one of the best income-generating methods compared to the rest. Rental yields have always been promising owing to the continuous demand for quality houses. This is what makes Real Estate a viable investment option over the rest and with the right location the value of your property investments appreciate with time.
The Kingdom of Saudi Arabia is prime for property investments, especially now. The heavily oil dependent economy is paving its way trying to generate income from other resources, which also includes the ease of doing business in Saudi Arabia; the goals of the ambitious Saudi Vision 2030 that is taking shape under the leadership of the visionary Crown Prince and the Chairman of the Council of Economic and Development Affairs Mohammad bin Salman bin Abdulaziz Al-Saud.
The Post-Oil Era
Keeping it crisp, let’s say Saudi Arabia is headed for a thorough revamp on all fronts, a post-oil era as some call it, to revive the economy that took a fall when the oil prices plummeted. Now, Real Estate gets the best share in the Saudi Vision 2030 ushering in a victorious era. Under the aegis of the National Transformation Program, SR 59 Billion has been set aside for housing. http://www.tamimi.com/law-update-articles/saudi-vision-2030-what-does-it-mean-for-your-industry/
YouGov the digital news experts did a survey that concluded “….Saudi Arabia to be an attractive market among GCC investors with the Saudi Vision 2030 well recognized to be a catalyst for exciting future developments” especially for real estate. https://mena.yougov.com/en/news/2017/09/19/vision-2030-sets-great-expectations-real-estate-in/
To add to the aforementioned points, know that the Saudi Housing Ministry will increase the rate of property ownership by 52% for Saudi citizens, a move that falls in line with the initiatives of the Saudi Vision 2030. http://www.arabnews.com/node/1166301/saudi-arabia
What distinguishes Saudi Arabia from other countries?
Youth. More than half of Saudi Arabia’s population do not exceed 25 years of age, says studies posited by https://www.newsecuritybeat.org/2012/02/saudi-arabias-youth-and-the-kingdoms-future/. A country with a lead of young population is a lucrative business ground; one of the prime reasons that encouraged many real estate developers to buy lands and build houses or apartment units foreseeing the rise in housing-demands.
Today, real estate development is an important sector in Saudi Arabia, because of the vital role it plays in enhancing economic growth by creating more jobs in many industries associated with it.
Real Estate – The Industry that provides in Saudi Arabia
In Saudi Arabia, more than 92 industries are dependent on real estate sector such as construction, consulting, engineering offices, various marketing companies, operation and maintenance companies. With the promised incentives and advantages that are to come with Saudi Vision 2030, a plan that heralds prosperity, Saudi Arabia certainly holds a significant place on the real estate investment map.
Being Saudi Arabia’s largest company, Dar Al Arkan is a major partner in realizing the goals of Saudi Vision 2030 for the real estate sector. Over the course of 23 years, Dar Al Arkan has brought various mega real estate projects to successful fruition, positioning the company at the forefront of real estate in Saudi Arabia. The company has devoted tireless energy to developing effective real estate solutions for the regional market.
Did you know?
- Dar Al Arkan has so far handed over approximately 15,000 residential units across Saudi Arabia
- Our commercial space spans over 500,000 square meters