Real estate market seen to grow to over SAR 353 bln by 2028: REGA

16/10/2023 Argaam
Abdullah Alhammad,CEO of the Real Estate General Authority(REGA)

Abdullah Alhammad, CEO of the Real Estate General Authority (REGA)

Saudi Arabia’s real estate market will likely grow from over SAR 241 billion in 2023 to more than SAR 353 billion by 2028, said Abdullah Alhammad, CEO of the Real Estate General Authority (REGA). 

 

The market will grow at an annual growth rate of 7.89% from 2023 to 2028, Alhammad said in a statement. 

 

The importance of the real estate sector stems from its being a key driver of development and investment, in addition to actively contributing to the growth of the gross domestic product (GDP) and creating extensive job opportunities, the CEO stated. 

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