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Construction activity continues to bolster the market success in 2016

Saudi Arabia - January 19, 2016
Construction in GCC

The weekly report of Mazaya Holding Company cleared that the continuation of construction activity in GCC states reflects the demand strength in real estate market these days.

The report cleared also that successful projects must depend on needed studies, feasibility studies, and setting predictions for the project before execution.

It added also that the qualitative decisions taken last year bolstered the real estate sector last year and will have extended impact in the coming years. On the top of these decisions is imposing fines on undeveloped lands.

Real estate markets suffered last year from supply surplus in addition to the lack of other products. For example, the supply of medium-range and good units declined while on contrary luxurious apartments and office spaces supply were on the rise according to Mazaya report.

As for UAE, the report mentioned that the renting and sales activity in the market contributed in flourishing the whole sector which is considered a key factor in boosting demand on real estate, commercial, investment, and industrial units. This makes the UAE market responsible for retaining the stability and current successes by being agile to sudden changes and supply surplus which could stall the market.

As for Qatar, the report underscored the increase in infrastructure budget as well as schools and hospitals establishment which offers a positive investment environment able to attract money.

 

 

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