Foreign Investment in Saudi Real Estate
Imad Al-Abdulrahman
The Saudi market is characterized by Markets attracting investment whether local or foreign, and with the rapid growth witnessed by the sector, we began to witness a number of Arab and international real estate companies entering the market after being preceded by Gulf companies that are still targeting Saudi investors to invest in sister countries or own real estate projects in the Kingdom and market them locally.
<What is new in our local real estate market is the entry of Arab real estate investment to be the first non-Saudi and non-Gulf real estate investor to enter the market, and here we pause for a moment to contemplate what effects this will have on the sector, its investors, and the final beneficiary of real estate products? The entry of foreign capital into the real estate market will lead to a number of objectives, including:
Diversification in the real estate product offered; we have seen this as the entry of the foreign real estate investor resulted in the establishment of residential projects in the style of private sector residential cities with new architectural and engineering thought and a unique and unprecedented housing pattern in Saudi society.
This step will stimulate the real estate market. <This step will stimulate Saudi real estate professionals who closely monitor the new patterns, whether in the real estate product or the relationship between the two parties to the real estate process, work methods, communication with customers, services provided and other aspects that may not have the space to list them. The entry of foreign real estate investment will strengthen the position of the Saudi real estate market on the global real estate map and stimulate more investments from abroad in this field, which will enhance competition among all investors and benefit the market and the end user, which achieves the goals of Saudi Vision 2030, as the Saudi market has turned from an internal market closed to itself to a market that attracts foreign capital and stimulates investment and thus provides multiple options in terms of products, prices, features and choice, which expands the scope of competition with an abundance of supply and appropriate price.
We believe that the Saudi market has become an attractive market for foreign capital and an incentive to invest and thus provides multiple options in terms of products, prices, features and choice, which expands the scope of competition. <I believe that the Saudi market will witness during the next five years in terms of foreign investment a major qualitative leap to achieve the goals of the vision, in terms of diversifying sources of income and increasing GDP.
Economic journalist
