Real estate sector contributes 12.8% to Saudi non-oil GDP in Q1: REGA

30/07/2023 Argaam

Real estate sector contributes 12.8% to Saudi non-oil GDP in Q1: REGA

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The real estate sector's contribution to the Saudi non-oil GDP reached 12.8% in the first quarter of 2023, according to the Real Estate General Authority (REGA).

 

The Kingdom's real estate sector witnessed an exceptional period last year as the legislation system began to be completed with the issuance of the real estate registration law, which came into force in Riyadh last May, as well as the real estate brokerage and real estate contributions laws, CNBC Arabia reported, citing REGA Spokesperson, Tayseer Al-Mufarrej.

 

He confirmed that the real estate sector drives investments in the Kingdom thanks to its impact on about 120 industries.

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