GCC Real Estate Market

Market Overview:

The GCC real estate market is projected to exhibit a growth rate (CAGR) of 5.70% during 2023-2028. The increasing government investments in non-oil sectors, rapid urbanization and population growth in the region, growing focus on affordable housing, and the advent of PropTech integration represent some of the key factors driving the market.

Real estate is a multi-faceted, expansive industry that primarily deals with property and its related aspects. The term "real estate" refers to the land and any physical property or structures attached to it, such as houses, offices, retail centers, factories, and warehouses. Real estate can be divided into two main categories: residential and commercial. Residential real estate encompasses properties designed for individual or family living, such as single-family homes, apartments, townhouses, and condominiums. On the other hand, commercial real estate refers to properties used for business purposes, including office spaces, shopping malls, hotels, and industrial properties. Real estate represents a key segment of the global economy and plays a vital role in various sectors, including construction, finance, and urban development. Since it serves as a significant avenue for investment and wealth generation, real estate has gained immense popularity among the masses as a relatively safe and tangible asset class across the GCC region.

GCC Real Estate Market Trends:

As a result of rapid population growth and elevating urbanization levels in the GCC region, there has been a rise in demand for residential and commercial properties. This, coupled with the increasing focus on affordable housing solutions in response to changing demographics and to meet the needs of younger, middle-income individuals, is supporting the market growth. Additionally, as the GCC countries endeavor to diversify their economies away from oil, there is a heightened emphasis on stimulating the real estate industry. This involves fostering tourism, entertainment, and various service industries, which in turn demand infrastructure and real estate development, propelling the market growth. Consequently, governments of numerous GCC countries are introducing legislation and initiatives to expand the real estate market, such as easing restrictions on foreign ownership, offering long-term visas, and investing in infrastructure and mega projects. In line with this, the rising trend of sustainable and smart buildings, which aligns with the global interest in environmental consciousness and energy efficiency, is contributing to market growth. Furthermore, the large-scale integration of technology in real estate, also known as PropTech, is reshaping the market by enhancing efficiency, transparency, and accessibility. In line with this, surging public and private investments in infrastructure development to support economic growth, such as transportation, utilities, and public services, are fueling the market growth. Other factors, including the growing popularity of real estate investment trusts (REITs) in the region, favorable loan rates, improved geopolitical stability, and ongoing economic diversification, are also anticipated to drive the market further in the coming years.

GCC Real Estate Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the GCC real estate market report, along with forecasts at the regional and country levels for 2023-2028. Our report has categorized the market based on property, business, and mode.

Property Insights:

• Residential
• Commercial
• Industrial
• Land
   

The report has provided a detailed breakup and analysis of the market based on the property. This includes residential, commercial, industrial, and land.

Business Insights:

• Sales
• Rental 
   

A detailed breakup and analysis of the market based on the business has also been provided in the report. This includes sales and rental.

Mode Insights:

• Online
• Offline
   

The report has provided a detailed breakup and analysis of the market based on the mode. This includes online and offline.

Country Insights:

• Saudi Arabia
• UAE
• Qatar
• Bahrain
• Kuwait
• Oman
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Saudi Arabia, the UAE, Qatar, Bahrain, Kuwait, and Oman.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the GCC real estate market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Report Coverage:

Key Questions Answered in This Report:

• How has the GCC real estate market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the GCC real estate market?
• What is the breakup of the GCC real estate market on the basis of property?
• What is the breakup of the GCC real estate market on the basis of business?
• What is the breakup of the GCC real estate market on the basis of mode?
• What are the various stages in the value chain of the GCC real estate market?
• What are the key driving factors and challenges in the GCC real estate market?
• What is the structure of the GCC real estate market and who are the key players?
• What is the degree of competition in the GCC real estate market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the GCC real estate market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the GCC real estate market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the GCC real estate industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.