Volume of Saudi real estate sector estimated

According to Al-Bayan newspaper, addressing a real estate investment symposium in Sharjah (UAE), Mr. Solaiman Al-Majed, Chairman of the leading Saudi Arabia based real-estate and investment group, Tanmiyat Group, said that the real estate sector in the region is currently witnessing a tremendous growth level, which is the second highest in the world, after Shanghai.

The Saudi specialist estimates the current volume of the Saudi real estate sector at Dh 20 billion (1$=3.67 Dirhams). He also said that the rising oil prices is the main cause of the booming real estate sector in the Arabian Gulf region.