SAUDI ARABIA. CB Richard Ellis released today the latest MarketView for the Kingdom of Saudi Arabia.
OVERVIEWKing Abdullah’s recent pledge to spend 30% of the Kingdom’s annual economic output (approximately US$130 billion) on mass housing, job creation and training, unemployment benefits and a raft of other social and economic measures has been welcomed with great enthusiasm.
However, as the supply and demand gap continues to widen in the housing sector, affordability remains the key deterrent for home ownership amongst Saudi nationals. Saudi Arabia has the largest re
SAUDI ARABIA. Over 50 traders attended events hosted by regional analyst, Noureldeen Al Hammoury, who offered his thoughts and advice on the latest investment strategies for a range of assets from oil through to the Renminbi.
UAE. "The company's plan (is) to continue expansion in attractive markets, mainly the Gulf region; in particular the Saudi market, and to study the expansion opportunities in other markets, taking into account the importance of the Egyptian market."
UAE. Middle East family businesses remain dynamic and resilient, with 79% recording growth in sales last year and 40% looking to achieve aggressive growth in the next five years; Succession is more hazardous than ever, with only 14% claiming to have a robust succession process, below the global average of 16%.
UAE. Concerns remain about the fuel for continued innovation and competitiveness according to Oliver Wyman / Zogby Research survey; the needs for investment, talent, research, and infrastructure are stubborn obstacles to innovation within Saudi Arabia, Qatar, and Kuwait, and especially in the UAE.
QATAR. Notwithstanding the weak start for the global economy, Asian economies are expected to continue to grow rapidly in 2015. We expect economic growth to average 5.7% in 2015, the same rate as in 2014.
UAE. Consumption of luxury goods up 11% in the GCC, according to Bain & Company; China luxury market shows a shift in consumer preferences and ties to the GCC; In the UAE, Chinese represent about 2.5% of overall tourists, but account for 7% of the mall footfall and even bigger part of the spend.