The importance of real estate statistics
The past period witnessed an active and intensive movement in the real estate sector, with the organization of a number of forums and exhibitions (you can find coverage of them inside the issue), in addition to Census and Census Report 2022, where news and reports have filtered out very important information that could have an impact on the map of .Net.sa/31016/">real estate wealth and its distribution in the Kingdom, as well as participating in the investment of opportunities.
The real estate statistics and data published through these events need urgent workshops from investors and businessmen to develop a roadmap that suits the implementation of the size of the proposed projects valued at more than one trillion riyals, in addition to small and medium projects that have not been announced, and what encourages the importance of these workshops is the presence of 3000 contractors in the Future Projects Forum; as institutions of various sizes and capabilities must benefit from this economic movement that other sectors that have weight and value are descending from it.
Real estate professionals need, for their own sake, to develop a roadmap that suits the implementation of the size of the projects put forward.
Real estate professionals need urgent workshops in which they develop an analytical study of the census results that concern real estate professionals, most notably that the average age of Saudis is 25 years, and 63% of Saudis are less than 30 years old (the age at which a citizen thinks about settling in his own home); especially If the forecasts indicate that we need 3 million housing units in 2040, this estimate must be consistent with the actual distribution of the population, which was monitored by the report of the General Authority for Statistics on about 68% of the population distributed in the regions of Riyadh, Makkah, and the Eastern Province, while the number of housing amounted to 8.2 million dwellings, half of which are apartments. These figures and data from real estate statistics and other information of interest to the development, finance and contracting sectors reinforce what these events went to, which classified the sector as the second largest non-oil sector, which confirms its alignment with the Kingdom's Vision 2030 program, and is the executive arm of it, as the sector absorbs 2.5 million jobs.
We hope that the organizers of the event will continue to support the real estate sector. We hope that those in charge of moving the real estate sector will intensify meetings in various forms and turn brainstorming into work mechanisms that help sustain the investment environment in it, in cooperation and participation between all competent authorities; so that our future projects are free of cases of stumbling and stopping.
