SR 2 tr investments spur KSA real estate business

Total investments in real estates across Saudi Arabia have reached more than SR 2 trillion, making the country one of the top real estate markets in the world.

"The Kingdom's housing need in 2020 is estimated at 4.5 million units at an estimated cost of SR 117 billion annually and it would need 110 million square meters of housing plots," said Khaled Al-Ghamdi, chairman of Taifah Al-Aqar in Jeddah.

Housing is one of the major problems facing the Kingdom.

Al-Ghamdi put the housing needs of Jeddah at 1 million units by 2020. "There is demand for 100,000 residential units in the city every year," he said.

Read more: http://www.zawya.com/story/SAR2trn_investments_spur_KSA_real_estate_business-ZAWYA20130302034407/