Saudi Arabia is proposing to build what it claims will be the world’s first truly “smart city”. Called Neom, the developers envisage a 10,230 square mile city and economic zone located in Saudi Arabia’s Tabuk region,
Tough Times Ahead for the Gulf States
December 11, 2015 by
In future the Gulf States will be forced to learn how to save, to be more economical. The citizens of these Arab states will also have to make adjustments to upcoming changes. The main reason for this is the slump in the oil prices. This and other factors will have a significant impact on the growth of these countries, and in turn, investments and profit or loss as well. The situation in the Middle East is a cautionary tale of a gold rush struggling not to go bust.
Saudi Real Estate Co. Eyeballing $1.3 Billion in Development
March 13, 2013 by
The CEO of Saudi Real Estate Co. (SRECO) told Bloomberg recently his firm is intent on building a housing development in Riyadh estimated to be worth $1.3 billion. According to reports from news outlets and the company, Saudi Real Estate is refocusing on middle-income buyers who can leverage a home shortage there.
MENA Region Faces Shortage of Affordable Homes
September 27, 2011 by
The MENA region of the Middle East and North Africa is estimated to be facing a shortage of around 3.6 million affordable homes over the next five years, and the governments and property developers in these countries need to combine their efforts to solve this problem. The most populated country in this region is Egypt, […]
