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Published: 28-03-2018
Over the years, the GCC real estate sector has played a vital role in the region’s economic growth. As the GCC economies witnessed a slowdown over the past two years and with the recovery in oil prices, experts believe that the real estate sector will fare well in 2018. The UAE (Dubai, Abu Dhabi) and KSA are likely to emerge as attractive real estate markets in the GCC region. There is also likely to be a significant shift towards the mid-market and more affordable residential units, which is becoming a key growth driver for new residential projects in KSA and the UAE. According to industry experts, 5% VAT introduced in KSA and the UAE on January 1st, 2018 is expected to have an impact on the purchasing power of local and international investors.
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