Top 10 Real Estate Developments in the Middle East

6 Jan 2023

The Middle East has a population exceeding 130 million. A young population with a median age of 28. With pockets of extreme wealth, especially in the Gulf Cooperating Countries (GCC), most of the region’s real estate development is concentrated here. With its 2030 vision, Saudi Arabia is investing billions into the real estate market to diversify its economy from relying on hydrocarbon exports.

More than 100 projects with a combined value of $100 billion should break ground in 2023. The Top 10 real estate developments that will break ground in 2023 are the following:

1 Rua Al Madinah $20.0 billion Saudi Arabia
2 Al Rafeel City Phase 1 $15.0 billion Iraq
3 ROSHN Asir $ 9.7 billion Saudi Arabia
4 ROSHN Makkah $ 9.7 billion Saudi Arabia
5 Sulaibikhat Coast Development $ 4.9 billion Kuwait
6 Mall of Saudi $ 4.3 billion Saudi Arabia
7 AIDA $ 4.0 billion Oman
8 South Sabah Al Ahmad City $ 3.5 billion Kuwait
9 Rio Downtown $ 1.9 billion Saudi Arabia
10 Al Mukaimen Community $ 1.6 billion Saudi Arabia

The Top 5 developers associated with these 100 developments are:

  1. Diriyah Gate Development Authority
  2. Public Investment Fund
  3. Aldar Properties PJSC
  4. NEOM
  5. National Housing Company

At ABiQ, we focus on supporting the development of the African and Middle Eastern markets. We identify investment opportunities and help businesses make the right choice when it comes to their role in investment, economic development and socioeconomic improvement. ABiQ provides validated data and trusted business intelligence. Our unique forecasting and project tracking tool provide data and analysis to support your business growth strategy across the Middle East and Africa. Contact us for a free demo.

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