Saudi Arabia has the lion’s share of GCC’s real estate projects, which is a total of 64.5% and the equivalent of to around $877 billion projects, according to leading real estate expert CBRE.
The economies of GCC countries are also expected to continue to record strong rates of growth in 2023.
CBRE pointed out that the price performance in the GCC’s residential sector was fragmented last year.
“Price growth in Dubai and Riyadh have significantly outpaced the regional average,” the report said.
In Saudi Arabia, price performance in both the apartment and villa segment of the market is likely to become more polarised over the coming year.
