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Saudi real estate market poised for boom

Posted on 05 August 2011

The Saudi property market is set to boom thanks to a boost in government spending. Reflecting this stimulus, the International Monetary Fund (IMF) recently announced economic growth forecasts of around 6.5 per cent in 2011 up from 4.1 per cent in 2010.
In March, King Abdullah pledged to spend 30 per cent of the Saudi Arabia’s annual economic output (approximately $130 billion (Dh477.5 billion) on mass housing, job creation and a number of other social and economic measures……………………………………….Full Article: Source


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