Saudi property sector to see a “healthy correction” in 2019: KPMG | ZAWYA MENA Edition:
The Saudi real estate industry is set to witness a “healthy correction” during 2019, following the sharp rise in property prices in the past several years, according to head of advisory at KPMG Al Fozan & Partners in Saudi Arabia Islam Albayaa.
The public and private sectors’ initiatives to enhance this sector are considered the main reason for this notable growth, he added. "This correction is expected to continue over the short-term, but the market will pick up in the medium to long term, given the recent government initiatives to incentivise the sector, particularly the Ministry of Housing initiatives," Albayaa explained.
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