Saudi  Real Estate Slowdown Continues
World Economy

Saudi Real Estate Slowdown Continues

The real estate markets in the Saudi cities of Riyadh and Jeddah continue to maintain an overall slowdown in performance, according to a JLL report, TradeArabia reported. JLL, a leading global real estate investment and advisory firm, released its Q2 2016 Riyadh and Jeddah real estate report on Wednesday assessing the latest trends in the office, residential, retail and hotel sectors. Jamil Ghaznawi, country head of JLL Saudi Arabia, said: “We have witnessed a general softening of the residential market this quarter, with a marginal decline in rentals in Riyadh and sale prices in Jeddah. Further delays have been experienced in the completion of projects in Jeddah, despite increased efforts being made to address the shortage of affordable housing.” Riyadh is braced for an increase of housing supply, bringing the total stock of residential units to over one million; whereas in Jeddah, supply remains stagnant in comparison to last quarter’s findings, Ghaznawi said.

Short URL : http://goo.gl/Y6GV9j
  1. http://goo.gl/sZ6ZdB
  • http://goo.gl/ogHkti
  • http://goo.gl/C1YF62
  • http://goo.gl/IqqOBR
  • http://goo.gl/tr5gzO

You can also read ...

Shifting transactions from cash to digital payments holds great promise for  individuals, businesses and governments.
More than 23% of the world's economy operates out of sight of...
India Launches 888 Anti-Dumping Probes
The Indian government has initiated as many as 214 anti-...
Federal Reserve Board Chairman Jerome Powell speaks during a hearing before the Senate Banking, Housing and Urban Affairs Committee.
US Federal Reserve Chairman Jerome Powell said protectionism...
Fitch Retains Philippine  Debt Rating
Global debt watcher Fitch Ratings kept the Philippines’...
The warnings come amid a period of financial uncertainty for the world.
US officials who helped the country survive the 2008 financial...
EU to Fine Google $5 Billion
Google will be fined about €4.3 billion ($5 billion) by the...
UN to Help Rebuild Gaza Economy, Create Jobs
Against the backdrop of rapidly rising tension, violence,...
Africa Next Frontier for Crypto
Cryptocurrency is not bound by geography because it is...