RealNews

Gulf countries will need 5 million new homes in the next ten years

The GCC countries will need five million new housing units in the next ten years to cater to rising national populations and to accommodate expatriates coming to the region for jobs amid high economic growth. Supplies of new homes are projected to be 2.9 million units during the period, leaving a gap of 2.1 million units. “The biggest gap will be in Saudi Arabia at 67%,” said Blair Hagkull, Middle East and North Africa Managing Director of real estate consultancy Jones Lang LaSalle. Full Story

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