Real estate industry accounts for 13% of GDP: Al-Falih

Saudi Investment Minister Khalid Al-Falih speaks during a session at the Future of Real Estate Forum

Saudi Arabia’s real estate industry accounts for 13% of gross domestic product (GDP), and contributes 23% to gross fixed capital formation, said Minister of Investment Khalid Al-Falih.

The industry is witnessing growth across its share of GDP, gross fixed capital formation, and the number of companies that have launched their projects, said Al-Falih during a session at the Future of Real Estate Forum.

Real estate represents a cornerstone of Saudi Arabia’s economic growth and serves as a foundation for other sectors, while also delivering healthy returns for investors.

With the industry reforms and maturity, it has begun to attract global capital, as foreign direct investment inflows have recorded successive growth in recent years.