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FinancialNews
15-01-17
Saudi's real estate sector to recover this year
(MENAFN) Despite a drop in Saudi Arabia's GDP growth from 3.5 percent in 2015 to 1.6 percent in 2017, liquidity in the market was supported by the increase of SR39.7bn global bond sale.
Accordingly, the more positive outlook for the sector started with the resulting government release of payments reaching USD10.6bn to contractors.
In addition, the kingdom's market has followed in the wake of macro-economic effects brought almost by fluctuating oil prices.
Meanwhile, the Capital Market Authority introduced new rules in 2016 in order to spread the economy and open the real estate market to smaller investors.
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