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
UAE. Dubai sits in first place among the Middle East, followed by Abu Dhabi and Doha; Jeddah and Riyadh lead the way on environmental sustainability in the region;
Doha performs stronger on Profit factors than People and Planet
UAE. Saudi has the highest market penetration which indicates that market opportunity now lies in the trading up of goods; Increased optimism among the lowest earners in society; India tops the ranking.
SAUDI ARABIA. Saudi Arabia's new King Salman further cemented his hold on power, with a sweeping shakeup that saw two sons of the late King Abdullah fired and the heads of intelligence and other key agencies replaced alongside a cabinet shuffle.
SAUDI ARABIA. King Salman has named his half-brother Muqrin as his crown prince and heir, rapidly moving to forestall any fears of a succession crisis at a moment when Saudi Arabia faces unprecedented turmoil on its borders.
UAE. Strong growth momentum in GCC countries continues, economic recovery in oil importers is on track; Oil exporters diversified their economies, but still heavily dependent on hydrocarbon sector in terms of budget and export revenues; Oil importers face higher risks of geopolitical tensions.