The CBRE Riyadh Market Snapshot 2018 highlights a number of key economic and social initiatives driving the growth in the real estate sector.
Key findings include:
- Office: Greater demand for office space catering to SMEs and start-ups in Riyadh, in line with initiatives to stimulate private sector growth
- Hospitality: Hotel occupancy up 3% year on year in Riyadh, with 5,760 keys to be delivered by 2022
- Residential: Existing supply in Riyadh stood at 1,252,000 residential units in 2018 with an expected delivery of a further 130,000 units by 2022
- Retail: Oversupply is a challenge, but the growing entertainment sector presents promising opportunities for diversification of retail portfolios across the Capital