Recently prepared studies by the Saudi Chambers of Commerce show that the Saudi real estate market volume is likely to exceed SR 1 trillion. The same source added that the size of the unlicensed real estate joint stock enterprises exceeds by three folds the size of the licensed real estate joint stock enterprises, which was earlier estimated at SR 11 billion.
Thus, the unlicensed real estate joint stock enterprises volume stands at SR 33 billion. The Saudi population, who grows by 3.5% annually, is estimated at 40 million in the next twenty years. Thus, the average demand for real estate is estimated at 160,000 units annually in the next twenty years.
