GCC real estate ‘eyeing company mergers’ as COVID-19 crisis bites

GCC real estate ‘eyeing company mergers’ as COVID-19 crisis bites

The impact of the Covid-19 pandemic is being felt in major industries in the region, including the real estate market, where developers are eyeing a reduction in unit prices by as much as 25 per cent and also company mergers to minimize business risks and significantly increase the ease of doing business, according to Maximiliano Development Management Services (MDMS). A Saudi-based development management service company, MDMS provides interior and architectural designs including engineering services. As uncertainty continues, real estate developers are deploying a range of measures and policies to mitigate the ongoing challenges and boosting their position and deepening their relationships with their employees, investors, end-users and other stakeholders. MDMS Managing Director Engineer Marwa A. Murad said: "One of the major risks facing the real estate market is the inability of buyers to