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'Real estate markets in the holy cities remains buoyant'
02 Jan 2009
According to real estate consultancy Alpha1Estates International, the two holy cities have an inelastic Muslim market place supported by significant public and private sector investment in infrastructure.
The company said that real estate investment in the two cities accounts for 40 per cent of the total investment in property within Saudi Arabia, a figure which is supported by prices being between $70,000 and $110,000 per square metre.
Talal Mahmood Malik al-Alawi, chief executive officer of Alpha1Estates International, said: "But even in this most cherished of spiritual investments, there are sound financial reasons to invest in future living in Makkah al-Mukarramah and al-Madinah al-Munawwarah, particularly during the global financial crisis."
Meanwhile, the work on real estate in the King Abdullah Economic City in Saudi Arabia is due to be completed during the first quarter of 2009.
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Jabal Ajyad Residential Development in Makkah - Saudi Arabia
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Fanar City - Phase Two - Saudi Arabia
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Connecting Al Bahah Area with Riyadh Reen Biechah Road - Saudi Arabia
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Connecting Aqaba Al Bahah - Al Mekhwat Al Madheelf Road - Saudi
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Jabal Upper Shada and Low Shada Road Expansion - Saudi Arabia
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Jarab - Kara Road Expansion - Saudi Arabia
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13 New Tunnels and Bridges in Jeddah - Master plan - Saudi Arabia
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Village Housing Development - Second Phase - Al Daihma Village in Sametah in Jazan - Saudi Arabia
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Village Housing Development - Thol Village in Jeddah - Saudi Arabia
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Village Housing Development - Al Ras Village in Al Reeth in Jazan - Saudi Arabia
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King Khaled and King Abdullah Road Expansion in Glawa - Saudi Arabia
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Jabal Ajyad Residential Development in Makkah - Saudi Arabia
-
Fanar City - Phase Two - Saudi Arabia
-
Connecting Al Bahah Area with Riyadh Reen Biechah Road - Saudi Arabia
-
Connecting Aqaba Al Bahah - Al Mekhwat Al Madheelf Road - Saudi
-
Jabal Upper Shada and Low Shada Road Expansion - Saudi Arabia
-
Jarab - Kara Road Expansion - Saudi Arabia
-
13 New Tunnels and Bridges in Jeddah - Master plan - Saudi Arabia
-
Village Housing Development - Second Phase - Al Daihma Village in Sametah in Jazan - Saudi Arabia
-
Village Housing Development - Thol Village in Jeddah - Saudi Arabia
-
Village Housing Development - Al Ras Village in Al Reeth in Jazan - Saudi Arabia
-
King Khaled and King Abdullah Road Expansion in Glawa - Saudi Arabia
-
Jabal Ajyad Residential Development in Makkah - Saudi Arabia
-
Fanar City - Phase Two - Saudi Arabia
-
Connecting Al Bahah Area with Riyadh Reen Biechah Road - Saudi Arabia
-
Connecting Aqaba Al Bahah - Al Mekhwat Al Madheelf Road - Saudi
-
Jabal Upper Shada and Low Shada Road Expansion - Saudi Arabia
-
Jarab - Kara Road Expansion - Saudi Arabia
-
13 New Tunnels and Bridges in Jeddah - Master plan - Saudi Arabia
-
Village Housing Development - Second Phase - Al Daihma Village in Sametah in Jazan - Saudi Arabia
-
Village Housing Development - Thol Village in Jeddah - Saudi Arabia
-
Village Housing Development - Al Ras Village in Al Reeth in Jazan - Saudi Arabia
-
King Khaled and King Abdullah Road Expansion in Glawa - Saudi Arabia
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