Real estate professionals reaffirmed their positive outlook on the real estate market and its ability to adapt to economic changes. Speakers at a specialized seminar recently organized by the Housing Committee of the Jeddah Chamber of Commerce and Industry, titled “The Future Outlook for the Real Estate Market in 2018,” that the increased activities of the Public Investment Fund are driving economic diversification through investments totaling 840 billion riyals, which will lead to a massive boom in the near future for the real estate development market, particularly in the residential, tourism, and entertainment sectors.
For his part, Engineer Khalid Bashweir, Chairman of the Chamber’s Housing Committee, explained that there is a new influx of residential products into the market as a result of significant support from local banks and finance companies, which are offering consumers a variety of financing programs with ease and convenience.
