KPMG: Riyadh real estate sectors show positive growth trends in the first half of 2022

KPMG: Riyadh real estate sectors show positive growth trends in the first half of 2022

RIYADH — KPMG released its first ever interactive and advanced “Riyadh Real Estate Market Overview” highlighting the indicative investment opportunities, market trends, and market performance for the first half of 2022, covering four core real estate sectors: residential, retail, office, and hospitality.

The overview comes in an insightful, easy to navigate, interactive dashboard, which allows sorting in three dimensions by selecting sectors, sub-sectors, and zones of the capital city. Users can select multiple sub-sectors and zones to witness a customized result in terms of market performance and indicative investment opportunities. Furthermore, the dashboard illustrates indicative locations that can be considered for future developments in the respective sector and sub-sector.

Residential

KPMG found that demand for housing units, particularly in the affordable segment, is continuously increasing despite the recent slowdown – mainly driven by a large and growing population, coupled with growing urbanization, declining household size, and government measures. In line with Vision 2030, the government is continuously working on the provision of affordable housing units for Saudi nationals to increase home ownership, which stands at just above 62%, as per the latest published statistics.

“The residential market remained resilient during the pandemic which can be attributed to strong demand fundamentals and has witnessed a