Written by Imarc » Updated on: March 17th, 2025
Saudi Arabia Real Estate Market Overview
Base Year: 2024
Historical Years: 2019–2024
Forecast Years: 2025–2033
Market Growth Rate: 7.30% (2025–2033
The Saudi Arabia real estate market is driven by government initiatives like Vision 2030, rapid urbanization, and increasing investments in residential, commercial, and tourism infrastructure. According to the latest report by IMARC Group, Saudi Arabia real estate market size reached US$ 67.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach US$ 126.8 Billion by 2033, exhibiting a growth rate (CAGR) of 7.30% during 2025-2033.
Saudi Arabia Real Estate Industry Trends and Drivers:
The Saudi Arabian real estate market is undergoing a transformative phase, driven by the Kingdom’s Vision 2030 initiative, which aims to diversify the economy and reduce dependence on oil revenues. This ambitious plan has spurred significant investments in infrastructure, tourism, and urban development, leading to a surge in demand for both residential and commercial properties. Mega-projects like NEOM, the Red Sea Project, and Qiddiya are reshaping the landscape, attracting foreign investors and creating new opportunities in the real estate sector. In major cities such as Riyadh, Jeddah, and Dammam, there is a growing demand for modern housing, office spaces, and retail hubs, fueled by a young and rapidly urbanizing population. Additionally, regulatory reforms, such as allowing foreign ownership of property and introducing long-term visas, have made the market more attractive to international buyers. However, challenges such as fluctuating oil prices, affordability issues, and the need for more transparent market practices remain hurdles to sustained growth.
Looking ahead, the Saudi real estate market is set to benefit from emerging trends such as smart cities, green building practices, and the rise of proptech (property technology). The development of smart cities, which leverage technology to enhance urban living, is a key focus area under Vision 2030, with projects like NEOM leading the way in integrating AI, IoT, and renewable energy into urban planning. Sustainability is also becoming a priority, with developers increasingly adopting eco-friendly designs and materials to meet global environmental standards and cater to the preferences of environmentally conscious buyers. The adoption of proptech is revolutionizing the industry, with tools like blockchain for secure transactions, virtual reality for property tours, and AI-driven analytics for market insights gaining traction.
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Saudi Arabia Real Estate Industry Segmentation:
The report has segmented the market into the following categories:
Breakup by Property Type:
Breakup by Region:
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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
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Email: [email protected]
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