GCC's growing population promises unprecedented real estate and tourism booms

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<Real estate investors estimated that the volume of real estate projects that will be witnessed in the Gulf countries over the next few years will amount to billions of dollars to keep pace with the increase in population and the growing rise in tourism. These expectations came in light of the growing urban and commercial movement in the Gulf region as a result of the population increase, which has been rising at an annual rate of 2.5 %. <A special report issued by research firm Alpen Capital predicted that this rate will continue until 2018, reaching 57 million people. “Strong population growth is driving demand for residential and commercial real estate, retail, hospitality, healthcare, entertainment, and infrastructure in the Gulf countries.”

Real estate investors are optimistic about unprecedented economic growth in the coming years. ”Recent studies on the conditions of the construction sector in the Gulf countries are optimistic, and expect a major boom in the construction market in the UAE over the next few years as a result of the economic recovery, the liberal investment climate, the application of advanced real estate regulation laws, and the prosperity of infrastructure projects planned under the country's strategic vision for 2021.“

Real estate investor Moataz Al Khayat said that ”recent studies on the conditions of the construction and construction sector in the Gulf countries inspire optimism, and expect a major boom in the construction market in the UAE over the next few years. A study conducted by real estate management company Trigranet predicted that the Gulf region will see a rise in real estate construction by up to 60 % over the next seven years. Philip Evans, CEO of the company, said that Dubai will see an increase in the volume of real estate projects by more than 25 % as the World Expo approaches. Vidar Real Estate Consultants conducted a research study that predicted the completion of 60,000 new housing units in Dubai over the next five years.

Gulf Arab states are investing billions of dollars in developing airports, public transportation networks, retail, hotel and entertainment sectors to accommodate growing tourist traffic as well as expatriate labor.“

Gulf Arab states are investing billions of dollars in developing airports, public transportation networks, retail, hotel and entertainment sectors to accommodate growing tourist traffic as well as expatriate labor.