Government Development Plan to Support booming Saudi Housing Demand
A recent US$ 385 Billion construction development plan will somewhat satisfy Kingdom's housing demand which is poised to grow at 13% CAGR by 2013, says RNCOS.
- (1888PressRelease) September 04, 2010 - KSA has been witnessing a gradual trend towards the nuclear family units like the Western World. This can be seen as one of the by-products of urban migration. The average household size in Saudi Arabia was estimated to be 5.6 in 2004, which is anticipated to fall significantly by 2015.
As per our analyst who has recently done a research on the KSA Housing sector, "The government approval of US$ 385 Billion plan will infuse the construction industry growth pace in the Kingdom." According to the plan, nearly one million housing units will be built along with hundreds of schools and hospitals. We anticipate this move to somewhat satisfy the rapidly growing housing demand in the country, which is expected to face a housing shortage of around 2 Million Units by 2012.
Previously in 2009, the housing industry in the Kingdom had emerged as the most dynamic segment of the real estate industry. With the entry of a number of real estate developers as well as increasing demand for real estate finance and residential property, housing industry has witnessed a tremendous growth. The fast increasing population along with affluence, demands for housing units are anticipated to grow at 13% CAGR during 2011-2013.
It has been also identified that affordable housing segment will remain the center of development in near future amid fast growing middle class population and various other supporting factors discussed and analyzed thoroughly in the report.
"Saudi Arabia Housing Sector Outlook", is an outcome of extensive research and thorough analysis on the growing housing industry in Saudi Arabia. The report also discusses the market structure, current and past market performance along with the forecasts which are critical to the success of the concerned industry in the Kingdom. We have also identified all the key players in the Competitor Analysis section of the report. The section talks about the business profile and strategic moves of the leading players operating in the sector.
For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM213.htm
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About RNCOS:
RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.
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