A real estate company in KSA has initiated a new marketing promotion for real estate products by granting a car award on purchasing any property in Saudi Arabia of its own.
Some specialists attributed creating this procedure to compensating the losses made by the company due to transactions rate decline while others saw it as an ordinary promotional offer no more or less.
It’s worth mentioning that the real estate market is a bit sluggish currently in KSA. SAMA decision of defining the first installment value by 30% of the property value led to the current faltering market performance as large proportion of real estate companies in Saudi Arabia depend on bank finances in their sales.
Saudi real estate market is considered one of the biggest in the Middle East, it needs about 160 thousand residential units every year and pumping 484 billion dollars during the coming years.