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Al-Haqil: Real estate market shifting away from speculation
The Minister of Municipal and Rural Affairs and Housing in the Kingdom, Majed Al-Helail, stated that the real estate market is currently shifting from speculation towards sustainable real estate development, with a decline in price exaggerations and an achievement of price equilibrium, especially in peripheral areas and interior cities. He emphasized that the goal is to support long-term investment and increase the supply of real estate, noting that more than 27 million square meters of development permits have been issued, thereby boosting the availability of diverse housing units and contributing to market stability. He also underlined the importance of standardizing Gulf real estate regulations to support investments, reduce reliance on speculation, and stimulate economic development and foreign investment.
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