Saudi Arabia Residential Real Estate Market Expected to Rise at 6.9% CAGR During 2025-2033

Saudi Arabia Residential Real Estate Market Overview

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

The Saudi Arabia Residential Real Estate Market is experiencing significant growth driven by Vision 2030 initiatives, urbanization, and increasing housing demand. According to the latest report by IMARC Group, Saudi Arabia residential real estate market size reached USD 71.8 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 130.8 Billion by 2033, exhibiting a growth rate (CAGR) of 6.9% during 2025-2033.

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Saudi Arabia Residential Real Estate Industry Trends and Drivers:

The Saudi Arabian residential real estate market has witnessed significant growth in recent years, driven by government initiatives like Vision 2030 and the increasing demand for housing. The market is characterized by a surge in affordable housing projects, particularly in major cities such as Riyadh, Jeddah, and Dammam, catering to the needs of a young and growing population. Developers are focusing on integrated communities with modern amenities, aligning with the Kingdom's goal of improving quality of life. Additionally, the introduction of mortgage reforms and easier access to financing has empowered more Saudis to own homes, boosting demand. However, challenges such as fluctuating construction costs and regulatory hurdles persist. Despite these, the market remains attractive to investors, with foreign ownership laws easing and public-private partnerships gaining traction. The trend toward urbanization and the rise of smart cities, like NEOM, further underscore the sector's potential for long-term growth.

On the other hand, regional disparities in the Saudi residential real estate market are becoming more pronounced. While urban centers experience rapid development, smaller cities and rural areas lag behind, creating an imbalance in housing supply and demand. The rental market remains strong, particularly in expat-heavy regions, but oversupply in certain segments has led to price corrections. Sustainability is emerging as a key focus, with green building practices and energy-efficient designs gaining popularity among developers and buyers alike. The government's push for digital transformation, including online property platforms, is also streamlining transactions and enhancing transparency. Looking ahead, the market is expected to stabilize as policies mature and infrastructure projects near completion. For investors and homebuyers, understanding these trends is crucial to navigating opportunities and risks in a market poised for evolution.

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Saudi Arabia Residential Real Estate Industry Segmentation:

The report has segmented the market into the following categories:

Breakup by Type:

●Condominiums and Apartments
●Villas and Landed Houses

Breakup by Region:

●Northern and Central Region
●Western Region
●Eastern Region
●Southern Region

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major have been provided.
The Saudi Arabia residential real estate market is highly competitive, with both local and international developers actively participating. Major Saudi Arabia residential real estate market companies include Saudi Real Estate Company (Al Akaria), Dar Al Arkan, and Jabal Omar Development Company, focusing on various segments from affordable to luxury housing. New entrants are attracted by government initiatives and economic reforms promoting real estate development. Additionally, international firms like Emaar Properties have entered the market, bringing expertise in large-scale, mixed-use developments. For instance, in April 2024, ROSHN Group, Saudi Arabia signed a partnership agreement with developer, Dar Al Arkan for the development of residential villas in Phase 1A, SEDRA Community. The value of the agreement is SAR 215 million. The deal comes as part of the group's efforts to further strengthen its leadership in the Kingdom's real estate market by expanding its strategic partnerships with best-in-class entities.

Key highlights of the Report:

●Market Performance (2019-2024)
●Market Outlook (2025-2033)
●COVID-19 Impact on the Market
●Porter's Five Forces Analysis
●Strategic Recommendations
●Historical, Current and Future Market Trends
●Market Drivers and Success Factors
●SWOT Analysis
●Structure of the Market
●Value Chain Analysis
●Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.