Dubai, UAE — (ARAB NEWSWIRE) — As the landmark 20th edition of the International Property Show (IPS) 2024 draws near, global investors are turning their attention to the thriving real estate market in Saudi Arabia. With key indicators pointing towards a promising landscape, IPS 2024 serves as the ultimate platform for exploring and capitalizing on investment options in the Saudi real estate sector.
Investors worldwide are turning their attention towards the Kingdom of Saudi Arabia, given the qualitative leap in real estate initiated by the Kingdom. This is based on economic diversification, especially in light of positive indicators in the real estate sector. This makes it one of the prominent sectors that will drive economic growth, alongside startups and small to medium-sized projects, aligning with the Saudi Vision 2030.
According to CBRE’s ‘Saudi Arabia Real Estate Market Review Q3 2023’, the Kingdom’s GDP will see a rise in 2023, which stands as a testament to the country’s economic stability. With headline inflation declining to 1.7% in September 2023 and a notable decrease in the unemployment rate to 4.9% in Q2 2023, the Saudi market exhibits a robust foundation for investment.
Riyadh, the capital city, witnessed a remarkable 12.9% rise in Grade A rents, reaching SAR 1,900 per square meter, while Jeddah’s Grade A offices surged by 17.9% to an average rent of SAR 1,356 per square meter in Q3 2023.
Riyadh, Dammam, and Khobar marked improvements in average villa prices, showcasing growth of 1.2%, 1.8%, and 3.2% respectively. Apartment prices in these cities also exhibited positive growth in the 12 months leading to Q3 2023.
The industrial sector, particularly in Riyadh, Khobar, and Dammam, witnessed impressive growth, with average industrial rents rising by 30.3%, 16.4%, and 19.8% in Q3 2023.
Hence, IPS 2024 presents a perfect opportunity for exhibitors to showcase their real estate projects to more than 10,000 expected at the show. Meanwhile, visitors can meet and greet with leading builders and developers from the Kingdom to explore investment avenues in country’s real estate market.
IPS will contribute to enhancing opportunities for knowledge and experience sharing among exhibitors, key players of the real estate market, government officials and agencies, and visitors. The event will also serve as a platform for forging new agreements and partnerships, to strengthen the connections between the real estate market stakeholders from different countries of the world.
IPS 2024, scheduled from February 27-29, at the Dubai World Trade Centre serves as a strategic platform to delve into the thriving Saudi market and initiate partnerships for lucrative ventures in the region’s evolving real estate sector.
To be held in partnership with the Dubai Land Department, IPS 2024 attracts exhibitors from over 140 countries around the world, including India, United Kingdom, Turkey, Pakistan, Saudi Arabia, Qatar, Oman, and Egypt, in addition to the United Arab Emirates. For its 20th anniversary run, IPS will also feature a diverse range of events that fall under its 11 main pillars, namely IPS Exhibition, IPS Conference, IPS Oscars, IPS Future Cities, IPS Connect, IPS Finance, IPS Women, IPS Youth, IPS Studio, IPS PropTech, and IPS Design, which are set to be organized not just once but throughout the whole year.
Media Contact
Ms. Poornima Tyagi
Media Specialist
Strategic Exhibitions & Conferences
poornima.tyagi@strategic.ae
+971 525579808
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