Real estate investors estimate that the Gulf countries will witness billions of dollars in real estate projects over the next few years to keep pace with population growth and the increasing tourism sector. These projections come amidst the growing construction and commercial activity in the Gulf region, driven by a population increase that has continued at an annual rate of 2.5%.<\/p>\n
A special report issued by the research firm Alpen Capital predicted that this rate would continue until 2018, reaching 57 million people. The report noted that "strong population growth is contributing to increased demand for residential and commercial real estate, shopping facilities, hospitality, healthcare, entertainment, and infrastructure in the Gulf countries.".<\/p>\n
Real estate investors are optimistic about unprecedented economic growth in the coming years. Real estate investor Moataz Al-Khayat said, \u201cRecent studies on the state of the construction sector in the Gulf countries are encouraging, and a major boom in the UAE construction market is expected in the next few years, resulting from the economic recovery, the liberal investment climate, the application of advanced real estate regulations, and the flourishing of planned infrastructure projects within the framework of the country\u2019s strategic vision for 2021.\u201d.<\/p>\n
A study by real estate management firm Tregranate predicts that the Gulf region will see a surge in real estate construction activity of up to 60 % over the next seven years. Philip Evans, the company's CEO, stated that Dubai will experience an increase in real estate projects exceeding 25 % as the World Expo approaches. A separate study by real estate consultancy firm Vidar forecasts the completion of 60,000 new residential units in Dubai within the next five years.<\/p>\n
It is worth mentioning that the Gulf Arab states are investing billions of dollars in developing airports, public transport networks, and the retail, hotel and entertainment sectors to accommodate the increasing tourist traffic as well as to absorb the expatriate workforce.<\/p>\n
<\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> < 1<\/span> Minute<\/span><\/span>Real estate investors have 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 growing population, which has been rising at an annual rate of 2.5 %. A special report issued by the research firm ... 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