Nowfal Al Salamah’s Post

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Visionary & Strategic Advisor | CBOP & CORP | Chairman | Entrepreneur | Housing Program | Transformation | Brokerage & Finance | Investments & Market Analytics | Program Management & Administration | Risk Mitigation

It is exciting to see how Saudi Arabia's real estate market grew strongly in the first half of 2024, with the residential and hospitality sectors leading this expansion. This trend aligns with Vision 2030’s goals of economic diversification and urban infrastructure development. Population growth and infrastructure investments have driven residential demand, particularly in Riyadh and Jeddah. These efforts aim to drive homeownership and enhance urban living standards. The hospitality sector is thriving due to increased tourism and corporate events. Makkah and Medina saw higher hotel revenue per available room, with Medina up 15%, while Riyadh's Average Daily Rates rose 25%. Office space, especially Grade A properties, is in high demand. Riyadh added 52,000 square meters of office space, with rents rising 19%. Retail is also transforming, focusing on experiential offerings like cinemas and entertainment. Jeddah's Souq 7 also saw significant expansion. These trends are expected to continue through 2024, supported by government initiatives and upcoming events like Expo 2030. #realestateinvesting #realestatedevelopment #propertymanagement #sustainabledevelopment #marketanalysis #investmentstrategies #financialmodeling #riskassessment #commercialrealestate #urbanplanning 

Saudi Arabia’s real estate market continues its upward trajectory in H1 2024, driven by the residential and hospitality sectors: JLL

Saudi Arabia’s real estate market continues its upward trajectory in H1 2024, driven by the residential and hospitality sectors: JLL

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