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Saudi’s property market valued at over $500bln

Posted on 05 March 2013

The level of investments in real estate projects in Saudi Arabia has been valued at around $533bn (SR: 2tn), according to the chairman of Taifah Al-Aqar. Khaled Al-Ghamdi said that housing is one of the major problems facing the Kingdom, with the city of Jeddah alone requiring one million new units by 2020 as the population rises, according to Arab News.
“The Kingdom’s housing need in 2020 is estimated at 4.5m units at an estimated cost of SR: 117bn ($31.2bn) annually,” said Al-Ghamdi………………………………………..Full Article: Source


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