The demand for housing units in the kingdom is expected to surge at a CAGR of around 3.1% during 2013-2017, says RNCOS.
Noida, UP -- (SBWIRE) -- 02/07/2014 -- The housing industry in Saudi Arabia has seen a remarkable growth over the past years due to high population growth and reduced family sizes. Moreover, the continued migration to the Kingdom, mainly to three main regions i.e. Makkah, Riyadh and Eastern Province, has also spruced up demand for new houses in the country. According to a new report by RNCOS, “Saudi Arabia Housing Sector Outlook to 2017”, the kingdom’s increasing GDP, rising personal income and rising urbanization, which all have a direct impact on the housing market, are set to increase the demand for the housing units in the coming years.
Moreover, several government agencies have announced a number of projects to address the housing issue. For instance, Saudi Arabia's Housing Minister has signed 8 new contracts worth US$ 1.06 Billion (SR 4 Billion) to develop 26 square kilometers of land in the Kingdom. In addition, the emergence of number of real estate developers has also contributed to the growth of Kingdom’s housing market. Thus, the housing sector is set to witness growth in the coming years.
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.