Middle East Real Estate Market Outlook to 2013 - Surging Tenants' Bargaining Power

09-Apr-2012 | News-Press Release

The report titled “Middle East Real Estate Market Outlook to 2013- Surging Tenant’s Bargaining Power” discusses in details various aspects of Middle East’s real estate market with a focus on the reduced household budget allocation of the tenants along with the rising domestic population, government initiatives to attract foreign investors and the changing tastes and preference of the tenants and the investors. The report covers the comprehensive analysis on the market size of the real estate sector in the Middle East with a focus on seven countries such as Saudi Arabia, Egypt, UAE (including Northern Emirates, Dubai and Abu Dhabi), Jordan, Oman Kuwait and Qatar on the basis of supply and revenue, market segmentation, competitive landscape and company profiles of major developers operating in these seven countries. The report also entails the SWOT analysis of the real estate sector. The future projections and outlook provide an insight on the future growth drivers and challenges in the real estate sector of Saudi Arabia, Egypt, UAE (including Northern Emirates, Dubai and Abu Dhabi), Jordan, Oman, Kuwait and Qatar. http://www.bharatbook.com/market-research-reports/infrastructure-market-research-report/middle-east-real-estate-market-outlook-to-2013-surging-tenants-bargaining-power.html
 The real estate market in the Middle East has entered a correction phase in the year 2010 with a major portion of demand inflow from the residential segment. The demand is primarily generated by the low and medium income segment of the population and therefore the developers were focusing towards building affordable and economic housing properties to cater to their requirement. The future of the Middle East real estate market is expected to be favorable with stable growth in the long run due to mounting domestic demand for affordable residential properties, friendly government laws and surging government investments and inclining inbound travelers in the region. Market Report
 The real estate market in Saudi Arabia has showcased a remarkable growth in 2010, primarily due to an increasing domestic demand for real estate properties. In addition, the arrival of religious and leisure tourists and travelers to the country has driven the market in the recent past and has resulted into lower vacancy rates of the retail shopping malls and hotel rooms. On account of these prevalent market conditions, the value of the real estate market has increased by ~% to USD ~ million in 2010.
 The Egypt real estate market in the midst of global economic unrest has showcased a sustainable performance as compared to the other countries in the Middle East, who have been trying to overcome the prevailing market and economic conditions. A consistent increase in the demand for housing units has been recorded over the years, which has surpassed the supply due to the growing need for housing facilities to accommodate an increasing population. In addition, the traditional approach of the Egyptians to hold their properties rather than selling it during odd economic conditions along with the conservative mortgage market have restricted the country’s real estate market’s exposure to the global economic slowdown.
 The real estate market in Egypt is dominated by few major players who contribute around ~% of the total revenue of the market in 2010. Of these, Talaat Mostafa Group Holdings (TMG) with contribution of ~% leads the share due to the company’s successful project execution track and a strong brand name.
 Jordan’s real estate market supply had increased at a CAGR of 3% from 2005-2010. In 2010, the market recorded a cumulative supply of ~ thousand square meter of GLA as compared to ~ thousand square meters in 2005. This increase in the supply was influenced by the growing demand for affordable and middle end residential buildings and demand for better and quality office buildings in Amman as a result of increased business activities in the country. Moreover, an increasing population is one of the major drivers of the real estate market on which the supply of residential units majorly depends.
 In the recent years, it has been observed that the Iraqi government has announced several schemes and incentives to attract the Iraqis who have migrated to Jordan because of the instability and unsafe political and economic conditions in Iraq. If these schemes prove to be attractive to the Iraqis then they may return back to their land which will in turn increase the vacancy rates of the residential spaces in Jordan.
 The real estate market in UAE has been significantly dominated by the Northern Emirates with a market share of ~% in 2010. This share has been contributed majorly by the real estate developments in the cities such as Sharjah, Ajman, Umm Al Quwain and Ras Al Khaimah (RAK).
 The Dubai real estate market follows the Northern Emirates, with a share contribution of ~% in 2010 and with several real estate development projects in the pipeline. Moreover, an increasing demand for affordable housing units and the reviving economy has resulted in the marginal growth of the real estate market in Dubai.
 For more information kindly visit :
Middle East Real Estate Market Outlook to 2013 - Surging Tenants' Bargaining Power
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