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Code Brew Labs：2023年中东房地产行业报告（英文版）（21页）.pdf

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Code Brew Labs：2023年中东房地产行业报告（英文版）（21页）.pdf

1、THE MIDDLE EASTREAL ESTATE INDUSTRYReport 20232023IntroductionWith oil prices elevating and resolute economic growth taking ground in the Middle East,things look favorable with regard to real estate growth in the region.Moreover,under ambitious plans unveiled by Crown Prince Mohammed bin Salman at t

2、he Future Investment Initiative summit held in the Saudi capital last year,Riyadh aims to increase its residents from 7.5 million at present to between15 million to 20 million in 2030.Thirdly,as the MEAs liberal trade policies are attracting foreign investors,the real estate niche is further set for

3、 exponential growth.Already,the trend is visible as there are strong levels of occupier and investment activity in the area.And at this pace,real estate activity will see an unprecedented boom,one that has possibly never happened before.Currently,the total value of real estate projects planned or un

4、derway in the GCC stands at$1.36 trillion.Saudi Arabia accounts for 64.5%of this total,with around$877 billion worth of projects.This is followed by the UAE,where its$293 billion worth of projects account for 21.6%of the total.An OverviewCurrent MEA Statistics64.5%21.6%13.9%$1.36 trillion$877 billio

5、n$293 billion UAEOTHERSSAUDI ARABIABetween Q3 2021 and Q3 2022,the average sales prices for residential property and average rents have increased by approximately 10%and 21%in Dubai respectively.Thats because post-pandemic,there was a sudden spike in demand for residential/rental accommodations with

6、 people moving out from their homes to work in various cities.Source:CBRE Saudi ArabiaIn the UAE,Abu Dhabis office market will see a demand surge with constrained levels of new supply.This will underpin further rental growth that will take place at a slow rate.Office MarketThe MEA Real Estate Estima

7、tes00500600700Dubai,Grade B14.0%Khobar,Grade A6.2%Dubai,Grade A12.1%Dammam,Grade B0.0%Dubai,Prime25.2%Dammam,Grade A7.9%Abu Dhabi,Grade B13.2%Jeddah,Grade B0.0%Riyadh,Grade A5.8%Abu Dhabi,Grade AJeddah,Grade A7.4%Bahrain,Grade A0.0%Abu Dhabi,Prime11.8%Riyadh,Grade B1.5%Bahrain,Prime0.0%8.

8、8%Currently,in Dubais office market,the occupancy rate stands at 88.0%;up from 78.8%a year back.YoY%US$Per Square metreIn 2023,rents in Dubai will keep increasing uniformly.Residential Marketa.VillasIn the villa segment in Abu Dhabi,the rate of growth is likely to remain positive,though in the low s

9、ingle digits.b.ApartmentsHere,positive rental growth will return over the year.However,the growth rates wont be material.c.HotelsReligious tourism will keep driving occupancy in the Holy Cities and Jeddah.And as more luxury and ultra-luxury developments come into existence,therell also be an uptick

10、in Average Daily Rates(ADRs).Meanwhile,in Riyadh and Dammam,the return of corporate tourism which forms a material part of demand in these marketswill lift occupancy rates.0ApartmentsVillasBahrainAbu DhabiDubai2550755200225250US$Per Square metreYoY%1.3%27.1%24.9%0.5%N/AN/AFinally,in the U

11、AE,although the occupancy rates will keep increasing,the ADRs will soften over the year.This,in turn,will put pressure on Revenue Per Available Rooms(RevPARs).The beachfront luxury segment will keep registering outperformance,both in terms of occupancy and ADRs.In Bahrain,in the second half of 2022,

12、occupancy levels have started increasing.Meanwhile,the UAEs retail market has been operating at varying performance levels over the last year;rental rates in Abu Dhabi and Dubai are increasing by 5.6%and 51.5%respectively.Retail MarketThough the sector has garnered a considerable level of occupier a

13、nd investor interest over recent years,it has been the most undersupplied in terms of suitable stock.This,in turn,has held back occupier and investment activity.As such,the average rents have increased in most MEA markets.Industrial and Logistics InfrastructureReal Estate Apps Running the Show in th

14、e MEADubai RESTDubaiNowProperty FinderMakaniPF ExpertFactors Leading to the Real Estate Industrys Rise in the MEAThe Dubai Government has enforced liberalized rules due to which many restrictions have been relaxed.As a result,there is a greater movement of people.LiberalizationThere is a greater dem

15、and for corporate buildings as firms have either either opened new offices or adopted a hybrid setup instead of a full-time remote one.The occupancy rates for Grade A buildings are now nearly full.Post Pandemic RushRetail centers are reporting high levels of footfall,especially malls and shopping ce

16、nters.More Demandfor Retail Shops The Saudi real estate industrys momentum towards decarbonization is increasing,bringing in green innovation and transparency in real estate.The country has emerged as one of the worlds top 50 most transparent real estate markets.SustainabilityInitiativesTrends in Re

17、al Estate in the MEAReal estate financing in the region was earlier limited to basic structures and sourcesmainly traditional corporate and project-level debt and equity funding.Now real estate players are expanding their financing models by using alternative models like private RE funds,club deals,

18、and RE investment trusts(REITs).These provide access to cash,diversify risk,and generate other revenue streams while helping the players afford control of projects.Financing via FundsAs the landscape and capabilities mature,and markets become more efficient,the regions developers are increasingly se

19、eking new ways to win against the competition and differentiate their products.They are evolving their traditional“product-based”business to an“experience-based”one by offering innovative and commercially viable digital products.They are enhancing the end-to-end tenant/customer experience,from marke

20、ting and sales down to daily operations.Selling Experiences,Not ProductsWhile the young peoplewho comprise the populations majoritydemand for affordable housing,living in large single units/villas is still difficult at affordable rates.There is a dire need for newer and smarter community planningsma

21、ller units need to be built in a way that residents can share common amenities,facilities,and social infrastructure.Affordable Communities for YoungstersPartner with Code Brew Labs Today!The Time Is Right to Invest in a Real Estate App.Launch a Robust Tech Solution Backed With a Comprehensive Tech Suite.+1 408 217 1185businesscode-www.code-

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Code Brew Labs：2023年中东房地产行业报告（英文版）（21页）.pdf

Code Brew Labs：2023年中东房地产行业报告（英文版）（21页）.pdf

Code Brew Labs：2023年中东房地产行业报告（英文版）（21页）.pdf