Saudi Arabia Real Estate Market, By Type (Real Estate Rental, Real Estate Agency, Brokerage), By Mode (Online, Offline), By Property Type (Fully Furnished, Semi Furnished, Unfurnished), By Region, Competition, Forecast & Opportunities, 2020-2030F
Market Overview
The Saudi Arabia Real Estate Market was valued at USD 68.52 billion in 2024 and is projected to reach USD 111.77 billion by 2030, growing at a CAGR of 8.86% during the forecast period. The sector encompasses residential, commercial, industrial, and agricultural properties, each serving distinct purposes—from living spaces like apartments and homes to business infrastructure such as offices and warehouses. Real estate transactions, including buying, selling, and leasing, are influenced by economic trends, government policies, and interest rates. As the country diversifies its economy, the real estate sector presents promising opportunities for long-term gains, attracting both local and international investors.
Key Market Drivers
Economic Diversification and Vision 2030
Saudi Arabia’s Vision 2030 initiative is a central force driving the evolution of the real estate sector. The plan aims to reduce the country’s dependence on oil by promoting non-oil industries, including real estate, tourism, and infrastructure. This has led to substantial investments in transformative projects like NEOM, the Red Sea Project, and Qiddiya. These mega-developments are creating new demand for both residential and commercial properties by catering to an increasing population and the growing presence of foreign businesses. With the population expected to surpass 40 million by 2030, demand is further amplified by workforce reforms and infrastructure enhancements in cities such as Riyadh and Jeddah. The modernization of sectors such as transport, healthcare, and education supports the establishment of new economic zones, fostering additional real estate opportunities across the kingdom.
Key Market Challenges
Overdependence on Oil Revenue and Market Volatility
A major challenge for Saudi Arabia’s real estate sector is its significant reliance on oil revenue, making it susceptible to global oil price fluctuations. Though efforts to diversify are underway, the market’s stability is still tied to oil performance. Economic growth and investment typically surge when oil prices are high, boosting property demand. Conversely, a drop in prices can lead to reduced government spending and investment, slowing the real estate market—as seen after the 2014 oil crash. Additionally, the global shift toward renewable energy further pressures oil-dependent economies. While measures such as encouraging foreign investment and promoting non-oil sectors are in place, maintaining real estate market resilience amid oil price volatility remains a considerable concern.
Key Market Trends
Growth of Affordable Housing Projects
A growing trend in Saudi Arabia’s real estate sector is the heightened emphasis on affordable housing. Driven by rapid urban population growth and a youthful demographic, the government has prioritized initiatives like the Sakani housing program under Vision 2030. These efforts focus on enabling Saudi nationals, particularly first-time buyers, to own homes. Developers are shifting from luxury projects to cost-efficient housing solutions that incorporate modular and prefabricated construction techniques. This trend is especially prevalent in urban hubs like Riyadh, Jeddah, and Dammam, where housing demand is highest. The Ministry of Municipal and Rural Affairs and Housing reports over 11,000 development projects across more than 300 municipalities, emphasizing urban expansion and enhanced livability.
Key Market Players
Report Scope:
In this report, the Saudi Arabia Real Estate Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Saudi Arabia Real Estate Market, By Type:
Saudi Arabia Real Estate Market, By Mode:
Saudi Arabia Real Estate Market, By Property Type:
Saudi Arabia Real Estate Market, By Region:
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Saudi Arabia Real Estate Market.
Available Customizations:
Saudi Arabia Real Estate Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
The Saudi Arabia Real Estate Market was valued at USD 68.52 billion in 2024 and is projected to reach USD 111.77 billion by 2030, growing at a CAGR of 8.86% during the forecast period. The sector encompasses residential, commercial, industrial, and agricultural properties, each serving distinct purposes—from living spaces like apartments and homes to business infrastructure such as offices and warehouses. Real estate transactions, including buying, selling, and leasing, are influenced by economic trends, government policies, and interest rates. As the country diversifies its economy, the real estate sector presents promising opportunities for long-term gains, attracting both local and international investors.
Key Market Drivers
Economic Diversification and Vision 2030
Saudi Arabia’s Vision 2030 initiative is a central force driving the evolution of the real estate sector. The plan aims to reduce the country’s dependence on oil by promoting non-oil industries, including real estate, tourism, and infrastructure. This has led to substantial investments in transformative projects like NEOM, the Red Sea Project, and Qiddiya. These mega-developments are creating new demand for both residential and commercial properties by catering to an increasing population and the growing presence of foreign businesses. With the population expected to surpass 40 million by 2030, demand is further amplified by workforce reforms and infrastructure enhancements in cities such as Riyadh and Jeddah. The modernization of sectors such as transport, healthcare, and education supports the establishment of new economic zones, fostering additional real estate opportunities across the kingdom.
Key Market Challenges
Overdependence on Oil Revenue and Market Volatility
A major challenge for Saudi Arabia’s real estate sector is its significant reliance on oil revenue, making it susceptible to global oil price fluctuations. Though efforts to diversify are underway, the market’s stability is still tied to oil performance. Economic growth and investment typically surge when oil prices are high, boosting property demand. Conversely, a drop in prices can lead to reduced government spending and investment, slowing the real estate market—as seen after the 2014 oil crash. Additionally, the global shift toward renewable energy further pressures oil-dependent economies. While measures such as encouraging foreign investment and promoting non-oil sectors are in place, maintaining real estate market resilience amid oil price volatility remains a considerable concern.
Key Market Trends
Growth of Affordable Housing Projects
A growing trend in Saudi Arabia’s real estate sector is the heightened emphasis on affordable housing. Driven by rapid urban population growth and a youthful demographic, the government has prioritized initiatives like the Sakani housing program under Vision 2030. These efforts focus on enabling Saudi nationals, particularly first-time buyers, to own homes. Developers are shifting from luxury projects to cost-efficient housing solutions that incorporate modular and prefabricated construction techniques. This trend is especially prevalent in urban hubs like Riyadh, Jeddah, and Dammam, where housing demand is highest. The Ministry of Municipal and Rural Affairs and Housing reports over 11,000 development projects across more than 300 municipalities, emphasizing urban expansion and enhanced livability.
Key Market Players
- CBRE Group
- Jones Lang Lasalle Incorporated
- Simon Media Properties, LLC
- DLF Limited
- Prologis, Inc.
- Cushman & Wakefield Debenham Tie Leung Limited
- Boston Hub Real Estate Inc.
- Colliers International Property Consultants, Inc.
Report Scope:
In this report, the Saudi Arabia Real Estate Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Saudi Arabia Real Estate Market, By Type:
- Real Estate Rental
- Real Estate Agency
- Brokerage
Saudi Arabia Real Estate Market, By Mode:
- Online
- Offline
Saudi Arabia Real Estate Market, By Property Type:
- Fully Furnished
- Semi Furnished
- Unfurnished
Saudi Arabia Real Estate Market, By Region:
- Riyadh
- Makkah
- Madinah
- Eastern Province
- Dammam
- Rest of Saudi Arabia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Saudi Arabia Real Estate Market.
Available Customizations:
Saudi Arabia Real Estate Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. PRODUCT OVERVIEW
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.3. Key Market Segmentations
2. RESEARCH METHODOLOGY
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Formulation of the Scope
2.4. Assumptions and Limitations
2.5. Sources of Research
2.5.1. Secondary Research
2.5.2. Primary Research
2.6. Approach for the Market Study
2.6.1. The Bottom-Up Approach
2.6.2. The Top-Down Approach
2.7. Methodology Followed for Calculation of Market Size & Market Shares
2.8. Forecasting Methodology
2.8.1. Data Triangulation & Validation
3. EXECUTIVE SUMMARY
4. VOICE OF CUSTOMER
5. SAUDI ARABIA REAL ESTATE MARKET OUTLOOK
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Type (Real Estate Rental, Real Estate Agency, Brokerage)
5.2.2. By Mode (Online, Offline)
5.2.3. By Property Type (Fully Furnished, Semi Furnished, Unfurnished)
5.2.4. By Region (Riyadh, Makkah, Madinah, Eastern Province, Dammam, Rest of Saudi Arabia)
5.2.5. By Company (2024)
5.3. Market Map
6. RIYADH REAL ESTATE MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By Mode
6.2.3. By Property Type
7. MAKKAH REAL ESTATE MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Mode
7.2.3. By Property Type
8. MADINAH REAL ESTATE MARKET OUTLOOK
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By Mode
8.2.3. By Property Type
9. EASTERN PROVINCE REAL ESTATE MARKET OUTLOOK
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Type
9.2.2. By Mode
9.2.3. By Property Type
10. DAMMAM REAL ESTATE MARKET OUTLOOK
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Type
10.2.2. By Mode
10.2.3. By Property Type
11. MARKET DYNAMICS
11.1. Drivers
11.2. Challenges
12. MARKET TRENDS & DEVELOPMENTS
13. COMPANY PROFILES
13.1. CBRE Group
13.1.1. Business Overview
13.1.2. Key Revenue and Financials
13.1.3. Recent Developments
13.1.4. Key Personnel/Key Contact Person
13.1.5. Key Product/Services Offered
13.2. Jones Lang Lasalle Incorporated
13.2.1. Business Overview
13.2.2. Key Revenue and Financials
13.2.3. Recent Developments
13.2.4. Key Personnel/Key Contact Person
13.2.5. Key Product/Services Offered
13.3. Simon Media Properties, LLC
13.3.1. Business Overview
13.3.2. Key Revenue and Financials
13.3.3. Recent Developments
13.3.4. Key Personnel/Key Contact Person
13.3.5. Key Product/Services Offered
13.4. DLF Limited
13.4.1. Business Overview
13.4.2. Key Revenue and Financials
13.4.3. Recent Developments
13.4.4. Key Personnel/Key Contact Person
13.4.5. Key Product/Services Offered
13.5. Prologis, Inc.
13.5.1. Business Overview
13.5.2. Key Revenue and Financials
13.5.3. Recent Developments
13.5.4. Key Personnel/Key Contact Person
13.5.5. Key Product/Services Offered
13.6. Cushman & Wakefield Debenham Tie Leung Limited
13.6.1. Business Overview
13.6.2. Key Revenue and Financials
13.6.3. Recent Developments
13.6.4. Key Personnel/Key Contact Person
13.6.5. Key Product/Services Offered
13.7. Boston Hub Real Estate Inc.
13.7.1. Business Overview
13.7.2. Key Revenue and Financials
13.7.3. Recent Developments
13.7.4. Key Personnel/Key Contact Person
13.7.5. Key Product/Services Offered
13.8. Colliers International Property Consultants, Inc.
13.8.1. Business Overview
13.8.2. Key Revenue and Financials
13.8.3. Recent Developments
13.8.4. Key Personnel/Key Contact Person
13.8.5. Key Product/Services Offered
14. STRATEGIC RECOMMENDATIONS
15 ABOUT US & DISCLAIMER
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.3. Key Market Segmentations
2. RESEARCH METHODOLOGY
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Formulation of the Scope
2.4. Assumptions and Limitations
2.5. Sources of Research
2.5.1. Secondary Research
2.5.2. Primary Research
2.6. Approach for the Market Study
2.6.1. The Bottom-Up Approach
2.6.2. The Top-Down Approach
2.7. Methodology Followed for Calculation of Market Size & Market Shares
2.8. Forecasting Methodology
2.8.1. Data Triangulation & Validation
3. EXECUTIVE SUMMARY
4. VOICE OF CUSTOMER
5. SAUDI ARABIA REAL ESTATE MARKET OUTLOOK
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Type (Real Estate Rental, Real Estate Agency, Brokerage)
5.2.2. By Mode (Online, Offline)
5.2.3. By Property Type (Fully Furnished, Semi Furnished, Unfurnished)
5.2.4. By Region (Riyadh, Makkah, Madinah, Eastern Province, Dammam, Rest of Saudi Arabia)
5.2.5. By Company (2024)
5.3. Market Map
6. RIYADH REAL ESTATE MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By Mode
6.2.3. By Property Type
7. MAKKAH REAL ESTATE MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Mode
7.2.3. By Property Type
8. MADINAH REAL ESTATE MARKET OUTLOOK
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By Mode
8.2.3. By Property Type
9. EASTERN PROVINCE REAL ESTATE MARKET OUTLOOK
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Type
9.2.2. By Mode
9.2.3. By Property Type
10. DAMMAM REAL ESTATE MARKET OUTLOOK
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Type
10.2.2. By Mode
10.2.3. By Property Type
11. MARKET DYNAMICS
11.1. Drivers
11.2. Challenges
12. MARKET TRENDS & DEVELOPMENTS
13. COMPANY PROFILES
13.1. CBRE Group
13.1.1. Business Overview
13.1.2. Key Revenue and Financials
13.1.3. Recent Developments
13.1.4. Key Personnel/Key Contact Person
13.1.5. Key Product/Services Offered
13.2. Jones Lang Lasalle Incorporated
13.2.1. Business Overview
13.2.2. Key Revenue and Financials
13.2.3. Recent Developments
13.2.4. Key Personnel/Key Contact Person
13.2.5. Key Product/Services Offered
13.3. Simon Media Properties, LLC
13.3.1. Business Overview
13.3.2. Key Revenue and Financials
13.3.3. Recent Developments
13.3.4. Key Personnel/Key Contact Person
13.3.5. Key Product/Services Offered
13.4. DLF Limited
13.4.1. Business Overview
13.4.2. Key Revenue and Financials
13.4.3. Recent Developments
13.4.4. Key Personnel/Key Contact Person
13.4.5. Key Product/Services Offered
13.5. Prologis, Inc.
13.5.1. Business Overview
13.5.2. Key Revenue and Financials
13.5.3. Recent Developments
13.5.4. Key Personnel/Key Contact Person
13.5.5. Key Product/Services Offered
13.6. Cushman & Wakefield Debenham Tie Leung Limited
13.6.1. Business Overview
13.6.2. Key Revenue and Financials
13.6.3. Recent Developments
13.6.4. Key Personnel/Key Contact Person
13.6.5. Key Product/Services Offered
13.7. Boston Hub Real Estate Inc.
13.7.1. Business Overview
13.7.2. Key Revenue and Financials
13.7.3. Recent Developments
13.7.4. Key Personnel/Key Contact Person
13.7.5. Key Product/Services Offered
13.8. Colliers International Property Consultants, Inc.
13.8.1. Business Overview
13.8.2. Key Revenue and Financials
13.8.3. Recent Developments
13.8.4. Key Personnel/Key Contact Person
13.8.5. Key Product/Services Offered
14. STRATEGIC RECOMMENDATIONS
15 ABOUT US & DISCLAIMER
