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
QATAR. Global spending on energy subsidies totaled US$492 billion in 2011. Middle East and North Africa countries alone accounted for nearly half of that amount, making the burden of subsidies on public resources quite substantial.
UAE. Commercial aerospace may be reaching its peak as the "war on costs" continues in defence and new players and technologies enter the industry; Sector driven by continued expansion of Middle East-based carriers which are increasing their scale and scope through massive fleet orders.
UAE. The ripple effects of the North American energy boom from major importer to soon-to-be exporter are being felt across the Middle East, Russia and China. This trend will reshape the global geopolitical landscape according to a Deloitte report.
INTERNATIONAL. The U.S. will remain the world's biggest oil producer this year after overtaking Saudi Arabia and Russia as extraction of energy from shale rock spurs the nation's economic recovery, Bank of America said.
UAE. Overall market reached 1.9 million sales in 2013 with Saudi Arabia, UAE and Egypt accounting for 58% of the market; Sales now equal about 11% of Europe's volume, and growing faster than many other markets; The Challenge is how to grow profitably.
INTERNATIONAL. The surprise declaration of a "caliphate" by jihadists accused of committing atrocities in Syria and Iraq has provoked an outcry even among Islamists who dream of a state under Sharia law.
INTERNATIONAL. The world is well aware of the concerns around terrorism and Nigeria's ongoing struggle with poverty. However the report finds that Nigeria has the potential to expand its economy by roughly 7.1% per year through 2030.