Noida, UP -- (SBWIRE) -- 03/06/2014 -- Majority of population in Saudi Arabia reside in rented accommodation as high land prices make it difficult for the developers to meet the price requirements of mid to low-end sectors of the society. According to a new report by RNCOS, “Saudi Arabia Housing Sector Outlook to 2017”, the above is creating a pricing difference between what the market is producing and what most purchasers can bear to pay for their housing. This had led to a huge demand for affordable housing in the kingdom.
According to our report, in order to address the issue of lack of affordable houses, several affordable housing projects have started developing in the country. For instance, in Jeddah there are 3-4 projects specifically addressing the affordable housing market segment, and there are a number of projects in the kingdom underway, that will bring-to-market housing in the SR 1 Million – SR 1.5 Million bracket for the middle classes. Further, to bridge the demand and supply gap, the state is not only embarking on its own construction program, but is also encouraging private sector participation in the affordable housing drive.
The report, “Saudi Arabia Housing Sector Outlook to 2017”, by RNCOS provides an in-depth research and rational analysis of the housing market in Saudi Arabia. It provides forecast of new housing units demand potential in the kingdom till 2017. Further, the report provides a detailed overview of the housing scenario and also presents insight on housing units in the kingdom on the basis of tenure, administrative area, construction material, and type. In addition, existing & future residential projects in Riyadh and Jeddah and industry trends & developments are also discussed in the report.
Besides, we have also analyzed several industry verticals such as IDC and Fit-outs, furniture, cement and steel and provided forecast till 2017 on these verticals. Furthermore, the report provides profiling of the major players describing their business overview and recent developments, if any.
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.