Launch apps instantly. Claim $200 credits on DigitalOcean for free!
Written by Rahul Singh » Updated on: December 11th, 2024
Real Estate Market in GCC 2024:
How Big is the GCC Real Estate Industry?
The GCC real estate market size is projected to exhibit a growth rate (CAGR) of 5.13% during 2024-2032. The market is growing, driven by infrastructure projects, economic diversification, government initiatives, and increasing demand for quality properties.
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 5.13% (2024-2032)
GCC Real Estate Market Trends and Drivers:
A combination of factors such as economic diversification, population expansion, as well as large-scale infrastructure developments across the region are responsible for the growth of the GCC real estate market. Additionally, initiatives by government authorities like Saudi Vision 2030 and the UAE Centennial 2071 are fueling investments in residential, commercial, and mixed-use projects, transforming the urban landscape. The increasing influx of expatriates and international businesses has amplified the demand for housing, office spaces, and retail outlets, further bolstering the market. Moreover, rising disposable incomes and changing lifestyle preferences are also driving the need for luxury properties, integrated communities, and smart home technologies.
The adoption of digital technologies and a growing emphasis on sustainability is augmenting the GCC real estate market. In addition to this, developers are leveraging advanced tools like virtual reality, AI-driven analytics, and blockchain to enhance property management, sales, and transparency. Smart city initiatives are gaining traction, incorporating IoT-enabled infrastructure to offer modern, tech-friendly living, and working environments. Sustainability has become a cornerstone of development strategies, with an increasing focus on green building certifications, energy-efficient designs, and renewable energy integration. The shift toward affordable housing projects to cater to middle-income residents is another notable trend, addressing diverse market needs. Furthermore, the rise of real estate investment trusts (REITs) is providing investors with opportunities to diversify their portfolios, boosting market liquidity. The ongoing reforms to improve transparency and foreign investment opportunities are expected to drive sustained growth in the GCC real estate market in the coming years, making it a cornerstone of the economic evolution.
GCC Real Estate Industry Segmentation:
The report has segmented the market into the following categories:
Breakup by Property:
Breakup by Business:
Breakup by Mode:
Breakup by Country:
Competitive Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
Key highlights of the Report:
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: [email protected]
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
We do not claim ownership of any content, links or images featured on this post unless explicitly stated. If you believe any content or images infringes on your copyright, please contact us immediately for removal ([email protected]). Please note that content published under our account may be sponsored or contributed by guest authors. We assume no responsibility for the accuracy or originality of such content. We hold no responsibilty of content and images published as ours is a publishers platform. Mail us for any query and we will remove that content/image immediately.
Copyright © 2024 IndiBlogHub.com. Hosted on Digital Ocean