Perspective
23 Dec 2022
Real Estate Predictions 2023
A market overview of Dubai and KSA
Deloitte Middle East’s Real Estate Predictions 2023 reports focus on the performance of Dubai and Saudi Arabia’s real estate market in 2022, covering the hospitality, residential, retail, office and industrial segments and the outlook for 2023.
Real Estate Predictions 2023 | Dubai
Pent-up demand from travellers and increased spending by residents led the post-pandemic recovery of the real estate sector in Dubai. Amidst global economic uncertainty and recessionary fears, Dubai’s status as a safe haven has attracted investors to the market throughout 2022.
Real Estate Predictions 2023 | KSA
Saudi Arabia’s gross domestic product (GDP) grew by 8.6% in Q3 2022 and is expected to grow by 8.3% in Q4 2022, before moderating to 3.7% and 2.3% in 2023 and 2024 respectively, according to the World Bank. The post-COVID recovery of the real estate sector is led by increasing tourist demand and government spending on infrastructure projects such as the Riyadh Airport expansion, among others.
