Saudi Arabia: Challenge facing Saudi real estate sector
According to Al-Watan newspaper, Abdulrahman Rashed Al Rashed, Chairman of the Committee of the Eastern Province Chamber of Commerce and Industry, said that the high population growth is the main challenge facing the Saudi real estate sector.
He added that the population growth rate rises as high as 8% in some Saudi cities and provinces, which is one of the highest ratios in the world. This puts heavy national responsibilities on real estate investors, who have to assure adequate housing supply for this population. In addition, the real estate sector encounters numerous local, regional and international challenges, the official said.