Government spending and progress on mega-projects are expected to provide a catalyst for future investment opportunities in Saudi Arabia, outlines JLL's 2018 Year in Review report.
“The government's continued focus on strengthening the business environment and
attracting foreign investment should have a positive impact on the real estate
sector in the long run,” said Dana Salbak, Associate, JLL MENA.
JLL maintains that 2019 is expected to witness ongoing activity on the back of the Kingdom's largest ever expansionary budget (SAR 1 trillion in spending), and commitment to driving economic growth in line with Vision 2030's objectives.
“With conditions remaining soft across most sectors of the market in 2018, the hospitality and entertainment industries witnessed several major development announcements. These included the launch of Al Qiddiya in Riyadh and Amaala, the luxury wellness destination forming part of a giga-projects investment portfolio
launched by The Public Investment Fund (PIF),” reads the JLL press release.