Saudi Arabia’s commercial real estate sector is witnessing an upturn as the Kingdom’s plan to diversify its economy continues to drive demand within the overall property market, according to a new report from the Royal Institution of Chartered Surveyors.
This comes as solid market conditions in the Middle East and Africa region continue to defy the broader global macro narrative, according to the firm’s Global Commercial Property Monitor.
The RICS report said that occupier and investor demand is reportedly rising across all sectors, with expectations for rental and capital value growth remain firmly positive, led by particularly upbeat feedback in Saudi Arabia, the UAE and Nigeria.
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