Arab Today, arab today saudi real estate among world elite in 2012
Last Updated : GMT 19:48:55
Arab Today, arab today
Arab Today, arab today

Saudi real estate among world elite in 2012

Arab Today, arab today

Arab Today, arab today Saudi real estate among world elite in 2012

Riyadh - Arabstoday

Saudi Arabia is forecast to become one of the best performing real estate markets in the world in 2012, according to Dubai developer Damac Properties. With investment bank Rasmala predicting five percent growth in house prices over the next two consecutive years, Saudi Arabia\'s property sector is poised to become one of the world\'s leading property markets, Damac said. Ziad El Chaar, managing director of Damac, said: \"The European debt crisis is likely to constrain real estate prices across the Eurozone, the US market is still flat and with China and Hong Kong property prices tumbling, the Middle East is where investors are most likely to see growth in the New Year. \"We predict that Saudi Arabia, in particular, could easily edge into the world\'s top-ten list next year,\" he added. Saudi Arabia\'s economic growth is projected to be 6.4 percent in 2011, while corporate profits in the kingdom rose nearly 25 percent in the first nine months of the year, according to a report by Global Investment House. El Chaar added: \"There is very strong positive sentiment about the outlook for Saudi\'s economy, and that is fuelling demand for high quality properties within the kingdom. \"We are seeing strong demand from both end users and investors seeking a market with high yields and plenty of scope for capital growth.\" El Chaar said; \"The investment world is so preoccupied with growth from the BRIC countries and emerging markets that they are overlooking a major powerhouse economy right here in the Middle East. \"Saudi Arabia is undergoing a once in a generational transformation, and property is an excellent vehicle to gain exposure to the Kingdom\'s economic expansion.\" King Abdullah\'s commitment to spend 30 percent of the kingdom\'s annual GDP on public projects aimed addressing unemployment and the country\'s housing shortage is already stimulating the housing and construction sectors, El Chaar said. Damac is currently constructing Al Jawharah Tower on the Jeddah Corniche, which will be one of the tallest towers in the city, and among the tallest developments in the country. Damac said it will this month unveil its Versace show apartment at Al Jawharah. \"While there has been a lot of commentary about affordable housing, it\'s not only the lower end of the market where we are seeing demand. As a luxury developer, we cater to the high end of the market, and we are seeing very strong demand in the luxury market segment\" El Chaar added. Damac Properties has completed 36 buildings to date with 7,374 units and has a further 50 buildings (9,849 units) at various stages of progress across the Middle East and North Africa region.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today saudi real estate among world elite in 2012 Arab Today, arab today saudi real estate among world elite in 2012

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Egyptian tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Egyptian tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models
View News in Arabic - Business: عقارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday