Pilgrimage forms one of the five pillars of the Islamic faith, and performing the Hajj at least once is mandatory for all Muslims who are physically and financially able to do so. The Hajj, however, can only be performed once a year over a specific five-day period. With an estimated 1.6bn Muslims in the world, catering for this requirement...
In common with other cities in the Kingdom, Makkah’s growing population and location have placed a strain on the management of its water resources. The city’s rapid urban development, not to mention the regeneration of existing urban areas, is also necessitating a substantial programme of investment to expand and upgrade wastewater and...
Given the constricted land environment, development costs and affordability issues in Saudi Arabia, some real estate firms are beginning to rethink the building model in the Kingdom. Indeed, from developing with greater height and density to rolling out fully serviced and planned communities, the built environment across the country is...
The basic outline of the Saudi Arabian property market provides a tempting picture of a land of opportunity. The most populous country in the GCC region, the Kingdom has seen disposable income grow strongly. Furthermore, it has a youthful population and a culture that emphasises family formation, as well as the prospect of purchasing a first...
The opportunities for investors to place capital and for developers to access funding are expanding as Saudi Arabia’s real estate market grows and matures. Indeed, there is an increasing realisation that real estate in the Kingdom is a sound asset class and, consequently, more funds are beginning to eye the market as a means of generating...
A young and growing population coupled with rising disposable income signals an optimistic future for the Saudi Arabian real estate sector and its developers. While the market, which has grown at a steady rate in recent years, seems poised for an uptick, a number of impediments related to land, financing and affordability remain, meaning that...
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