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The Dammam Metropolitan Area (DMA) lies on the East Coast of Saudi and comprises a major gateway to the other Gulf Cooperation Council (GCC) countries. The DMA comprises of Dammam, Dhahran and Al Khobar. Although these were originally three quite separate cities, they have expanded over the years and merged to what is now commonly referred to as the DMA.
The DMA is the commercial centre of the Eastern Province, accounting for around 50% of the Kingdom’s total oil and gas reserves. The economic diversification of the national economy will inevitably reduce the DMA’s traditional dependence on the hydrocarbon sector over time and will increase the importance of its other distinctive characteristic, its close connectivity to the surrounding GCC nations.
Having experienced a growth in demand and performance over the past few years, most sectors of the DMA real estate market are now positioned close to the peak of their cycle. 2016 is expected to see conditions remain relatively stable in most sectors, although performance may decline in some sectors of the market.
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01 June 2016