KSA Real Estate Predictions 2024

Kingdom of Saudi Arabia (KSA) market overview

Deloitte’s 10th annual Real Estate Predictions report focuses on the performance of Saudi Arabia’s real estate market in 2023, forecasting the changes in the hospitality, residential, office, retail, industrial and logistics sectors in 2024.

Saudi Arabia’s gross domestic product (GDP) reached SAR 10.1 trillion (USD 2.6 trillion) in 2023 and is expected to grow to SAR 11.6 trillion (USD 3 trillion) by 2030, with 1.6% annual growth according to data from Oxford Economics. In the post-COVID real estate landscape, key trends include sustainability and technological integration.

The demand for flexible workspace is rising, leading developers to innovate office designs tailored for hybrid work models. Residential preferences are shifting towards homes that accommodate remotework by incorporating wellness-centric features. Simultaneously, the retail and hospitality sectors are adapting to changing consumer behaviours, with a focus on e-commerce and experiential spaces.

Real Estate Predictions 2024 - KSA Market Review

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