Al-Marsad newspaper: Real estate specialist Saud Al-Harthy explained that the Kingdom will not witness a real estate collapse, as some say, adding that Riyadh and Jeddah will witness a demand for real estate.
He said during a clip he posted on his account on the Tik Tok application: “Today they are talking about the descent of the property, and that there is a coming wave in which the property will collapse.
And he added, according to expectations, real estate in Saudi Arabia could go through a phase of stagnation or a fall of 10 percent, and not a major collapse, as some claim.
He added, Riyadh and Jeddah will be outside the flock, and real estate will be on the rise and in increased demand.
And he continued, in Riyadh, it is difficult for there to be a drop in prices in Riyadh, which has a population of 7 million people, and it will be an economic front and among the top 10 economies in the world, and the population will double in the coming years.
He pointed out that Jeddah is the second city in which it will be difficult for real estate to land, as the city is on the verge of an urban renaissance and new tourism projects, in addition to the fact that the removal of popular neighborhoods and the process of developing them led to an increase in prices and an increase in demand in buying and selling.
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