Despite the availability of commercial loans to encourage the Saudi private sector to invest in the construction industry some real estate agents and builders claim that the construction market in Jeddah was affected recently during the municipal election period.
Mohammed Al-Zaidy, real estate selling specialist in Ewa’a Al-Dirah Company for real estate development, was quoted as saying that the public media turning its attention from the constructional business to follow the election had a big influence on the real estate market.
Another real estate agent said that the real estate market didn’t record any positive or negative influence indicating that the trading movement frequently experienced periods of stagnation.
