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Middle East Real Estate Market Outlook to 2019 - Demand for Destination Retail and Affordable Housing to Shape Future

  • April 2015
  • -
  • Ken Research Private Limited
  • -
  • 351 pages

Summary

Table of Contents

EXECUTIVE SUMMARY

The market research report titled “Middle East Real Estate Market Outlook to 2019 - Demand for Destination Retail and Affordable Housing to Shape Future” provides an in-depth analysis of the Middle East real estate market. The report covers specific insights on the market size in terms of value, segmentation by geography & sector wise segmentation by major countries, drivers and restraints, recent trends and developments, government regulations and future outlook of the real estate market at the Middle East level and countries. The report also entails a detailed description of the prominent and emerging geographic markets of the region including UAE, Saudi Arabia, Oman, Kuwait, Bahrain, Qatar, Jordan and Egypt.

The Middle East real estate industry is one of the fastest growing sectors across the world. Foreign real estate developers have infused billions of dollars into places such as Oman, Qatar, Dubai, Saudi Arabia and other countries in Middle East region, which has pushed the growth of this market. Middle East real estate market revenues have augmented at a CAGR of ~% during 2009-2014, with revenues being registered at USD ~ million during 2014.

In the year 2014, UAE real estate market the surge in real estate investments from domestic as well as overseas investors have quadrupled the market to USD ~ million, with a moderate growth rate of ~% during the year. The real estate market in UAE has been significantly dominated by the Dubai with a market share of ~% in 2014. Northern Emirates has been the second largest segment of UAE real estate market, with a share contribution of ~% in 2014. During 2014, residential sector of UAE has contributed ~% of the overall real estate supply. UAE real estate market is highly fragmented and competitive with about 2,206 brokers in Dubai alone currently listed by Real Estate Regulatory Authority (RERA). Dubai Holdings is the largest real estate developer in the UAE with a market share of ~% in 2014. UAE real estate market is poised to grow at a noticeable CAGR of 6.4% during the period 2015-2019, with revenues expected to reach USD ~ million by 2019.

The real estate market in Saudi Arabia has grown at a steady CAGR of ~% during the period 2009-2014 with revenues being marked at USD ~ million during 2009. Residential segment of the market contributed the largest share in the year 2014. The residential market has contributed ~% to the overall supply of GLA in square meters during 2014.The region is estimated to be the domain for 15,000 registered and unregistered real estate offices of which approximately 37% are based in the Central region, 34% in the Western and 29% in the Eastern region. , the real estate market of Saudi Arabia is likely to augment at a tremendous CAGR of ~%, with revenues being valued at USD ~ million by 2019.

Qatar real Estate market has deteriorated at a CAGR of 2.2% during the period 2009-2014, with revenues being registered at USD ~ million during 2014. The residential segment is the largest contributor of the real estate sector in Qatar, which has contributed ~% of the total real estate market of the region. The real estate sector in Qatar is fragmented amongst many large-scale and small-scale developers. The future for the real estate market in Qatar is certainly promising on account of the booming domestic economy due to the inclining oil revenues and the bid win of the FIFA world Cup 2022.

The value of the real estate activities in Egypt has witnessed consistent surge throughout the years 2009-2014, whereby the revenues have augmented at a rapid CAGR of ~% during the period 2009-2014. The real estate market in Egypt is dominated by few major players who contribute around ~% of the total revenue of the market in 2014. The real estate market in Egypt is certainly expected to continue its regime as one of the most attractive real estate destination in the Middle East in terms of long term investment opportunities as a result of better economic conditions.

The Kuwait real estate market based on contribution to GDP fell from USD ~ million in the year 2009 to USD ~ million in the year 2014. The residential segment contribution to the total supply of gross leasable area by the real estate sector has fallen from ~% in the year 2010 to ~% in the year 2014. The real estate market in Kuwait is highly saturated amongst 50 public listed companies of which 14 are Sariah compliant and several other small and private developers. The market in the future is projected to incline at a positive CAGR of ~% for the period 2015-2019, with revenues expected to stand at USD ~ million by 2019.

Oman’s real estate market value has prospered at a sizeable CAGR of ~% for the period 2009-2014. The real estate market of Oman has been dominated by the residential segment of the market with a percentage contribution of ~% in 2014. The well planned long term government initiatives, buoyant financial policies as well as upsurge in demand has given a push to the real estate of Oman, which is anticipated to continue during the review period 2015-2019

The real estate market in Jordan has showcased a positive momentum during the years, which was largely exhibited due to the growth in demand. Jordan’s real estate market is primarily dominated by the residential segment, with an increasing demand from the domestic as well as the foreign buyers. The real estate market in Jordan is characterized by intense level of competition between several registered and unregistered companies. The market in the future is likely to flourish in the approaching years, and thus the revenues are likely to register at USD ~ million during 2019, projecting to grow at a CAGR of ~% during the period 2015-2019.

Bahrain real estate market has prospered at a CAGR of ~%, with revenues being valued at USD ~ million during 2014. The residential real estate market in Bahrain has contributed majority of the share which was around ~% of the total real estate market supply in 2014. In the review period 2015-2019, boost in investors’ confidence, owing to surge in economic growth is expected to augment the confidence levels among investors and developers.


Key Topics Covered in the Report:

- The market size of Middle East Real Estate market in terms of revenue.
- Middle East market segmentation by geographies covering UAE, Saudi Arabia, Oman, Kuwait, Bahrain, Qatar, Jordan and Egypt.
- Market Segmentation of Residential, retail, commercial and hotel sector on the basis of supply in UAE, Saudi Arabia, Oman, Kuwait, Bahrain, Qatar, Jordan and Egypt
- Real estate agents market size and snapshot in UAE, Saudi Arabia, Oman, Kuwait, Bahrain, Qatar, Jordan and Egypt
- Online Real Estate Market size, Snapshot and competition in UAE, Saudi Arabia, Oman, Kuwait, Bahrain, Qatar, Jordan and Egypt
- Recent trends and development, SWOT Analysis and market share of major companies in UAE, Saudi Arabia, Oman, Kuwait, Bahrain, Qatar, Jordan and Egypt real estate market.
- Future outlook and projections of real estate market in Middle East region along with UAE, Saudi Arabia, Oman, Kuwait, Bahrain, Qatar, Jordan and Egypt

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