Realizing its importance in shaping their nascent economies and its action as a catalyst for growth and diversifying the economy through reduced dependence on oil, many local governments have set up large national real estate development champions and pushed to establish ambitious mega-cities and urban developments.
Real estate has long been a core economic sector and investment of choice in the Middle East region, buoyed by strong demand fundamentals from solid population and GDP growth, as well as excess liquidity from oil.
