The long-term development plan Saudi Vision 2030 seeks to transform the economy from powerful but hydrocarbons-dependent to diversified, dynamic and knowledge intensive, with a high standard of living for all citizens. One of the most ambitious policy documents published by any country, it is already having an extensive impact on the...
How will economic diversification impact the growth of real estate projects within and beyond the Kingdom’s main urban centres?
To what extent can better use of building technologies improve the Kingdom’s housing projects?
Perhaps the most significant regulatory enactment for the Kingdom’s construction and real estate players in years, the white land tax is expected to have a wide-ranging impact on the market. Instituted to encourage sales of land to more active developers, the government began issuing its first bills for taxable land in late March 2017.
After a period of stabilisation in which the government implemented a number of reforms, the real estate and construction sectors are preparing for the introduction of a range of projects under the Saudi Vision 2030 initiative. Lower oil prices and the resulting fiscal consolidation of the state cooled demand in 2016 and early 2017; however, public and private investment is set to pick up...
2017 proved a momentous year for the Kingdom of Saudi Arabia as the various strategies related to the country’s Vision 2030 and National Transformation Plan 2020 started to take shape.
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