Many real estate marketing companies have started to lay off their employees due to the uncertainty that controls the future of the market as a result of some of the changes that have occurred in the global and local economic map, especially the decisions related to the real estate aspect.

Informed sources in the real estate market attributed the move to reduce expenditures in order to keep pace with the general recession that is gripping the market in the sale and purchase movements, despite the expertise enjoyed by the real estate sector employees, while many real estate professionals expected the flight of real estate capital to the stock market, which began to revive in conjunction with allowing foreign companies to enter it.

In the same vein, many real estate professionals predicted the flight of real estate capital to the stock market, which began to revive in conjunction with allowing foreign companies to enter it.

In the same direction, economic analyst Dr. Mohammed Abu Fahd Al-Omran predicted the deterioration of the future of the real estate market, especially real estate (non-income-generating), which is expected to be built with losses of at least 20-30% of its market value before the end of this year, “Perhaps before that while there will be no liquidity in these markets and will witness a recession that has not been experienced for many years.”

Omran said. It is worth noting that more than 70% of the residential projects offered for sale now were built at a high total cost as a result of the increase in the prices of building materials and old specifications that do not suit the tastes of consumers now looking for smart housing with modern design, while the commercial real estate market will face strong price pressures with the expected increase in supply in major cities, which will cause the decline of residential real estate.

More than 70% of the residential projects offered for sale now were built at a high total cost as a result of the increase in prices of building materials and old specifications that do not match the tastes of consumers now who are looking for smart housing with modern design.