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In the first quarter of
2016 Jeddah witnessed a general slowdown across its real estate sectors due to
demand-supply mismatch and the country’s overall macroeconomic scenario. In the
residential segment, sales prices continued to decrease marginally while rents
started slowing down after continuous growth in 2015. The office market
witnessed a further slowdown in the growth of lease rates while retail market
lease rates showed signs of stabilisation. The hotel sector is
impacted by the general economic slowdown as a result of lower oil revenues
affecting various demand drivers.
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03 May 2016