GCC Real Estate Market

GCC Real Estate Market Size:

The GCC real estate market size reached USD 131.9 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 252.8 Billion by 2033, exhibiting a growth rate (CAGR) of 7.1% during 2025-2033. The market is experiencing steady growth driven by the accelerating government initiatives focused on economic diversification, infrastructure development, and smart cities, the rising tourism and hospitality sector across the GCC, and the development of smart cities.

GCC Real Estate Market Analysis:

• Major Market Drivers: The GCC real estate market is being majorly driven by government initiatives for the diversification of their economies and infrastructural development. High rates of population growth and urbanization are also increasing the demand for residential and commercial properties.
• Key Market Trends: Sustainable and green building practices are acting as one of the GCC real estate market trends, as concerns about ecological responsibility escalate globally. Besides, smart city technologies help in this direction by enhancing the cause of efficient and highly aesthetic living spaces.
• Competitive Landscape: Key market players operating in the GCC real estate market are dominating the market due to large-scale financial investments and extensive project portfolios. Foreign investment is also significant, where international developers have partnerships on large-scale projects to apply local market knowledge and resources.
• Challenges and Opportunities: According to the GCC real estate market analysis, the market has a high degree of volatility, with repeated changes in the regulations affecting investor sentiment and the timelines of projects. New opportunities include a growing tourism market and rising non-oil sectors that are expected to be important drivers of long-term growth and stability in this real estate market.

GCC Real Estate Market Trends:

Government initiatives and economic diversification

The GCC real estate market report states that the escalating governmental initiatives throughout the GCC to diversify their economies away from being over-reliant on oil is driving the market. Along with this, huge infrastructure projects are being undertaken to create new cities, transport networks, and entertainment places to attract local and foreign investments. Such programs are part of a broader national vision that also involves Saudi Arabia's Vision 2030 and the UAE Vision 2021, in which a diversified economic fabric is sought through the help of non-oil industries. The UAE was ranked fourth in the world for the quality of its infrastructure in the Global Competitive Report 2023 which was released by the World Economic Forum. A total of 258 projects were undertaken by the Ministry of Energy and Infrastructure over the last decade at an investment of AED 13 billion. In addition, free zones and business-friendly regulations further increase the growth of commercial real estate, inviting more multinational corporations to set up GCC headquarters. According to the GCC real estate market forecast, such encouraging government policies set up a favorable environment for real estate development and, hence, market growth as demand for residential, commercial, and mixed-use properties will increase.

Population growth and urbanization

The growing population growth and urbanization are key drivers that are positively influencing the GCC real estate market size. High fertility rates and a large number of expatriates constantly immigrating in search of employment are increasing the demand for houses in the GCC. Cities are growing with this new influx, as new residential areas are being set up and old urban facilities are being renovated. Modern, high-quality living spaces and amenities are in demand by the high population of young and high-income individuals. Such urban expansion also flows into the development of retail areas, educational and health facilities, and entertainment zones. The salient features of unbridled urban sprawl and increasing living standards, therefore, provide the real estate sector with reasons for high growth. The ongoing expansion of urban areas is prompting the construction of diverse property types, from luxury apartments to functional commercial spaces, further broadening the scope of the real estate market. As a result, these factors are significantly increasing the GCC real estate market share.

Tourism and hospitality sector growth

The growing tourism and hospitality are impacting the GCC real estate market. Additionally, the escalating investments into the infrastructure in countries such as the UAE and Saudi Arabia host a global audience in terms of hotels, resorts, and other leisure facilities is significantly increasing real estate demand in GCC. Along with this, the accelerating number of high-profile events in Dubai and the ongoing buzz around Saudi Arabian tourism projects which are attracting global attention and investment is also favoring the market. The hospitality growth is providing supportive real estate in the form of retail, food and beverage, and leisure facilities. Dubai's Department of Economy and Tourism (DET) has launched the 'Dubai Sustainable Tourism Stamp' certification in a move that will assist and empower the tourism sector in supporting the country's sustainability goals, among which is the UAE's NetZero 2050 initiative. The aim is to position Dubai as one of the most prominent global destinations for sustainable tourism, ideally, the best city to visit, live, and work in. An increasing number of short-term accommodations, in turn, bring interest to make long-term residential investments, especially in tourist-driven areas. Thus, the growth in tourism helps the overall GCC real estate market growth and diversification of the market.

GCC Real Estate Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the regional and country levels for 2025-2033. Our report has categorized the market based on property, business, and mode.

Breakup by Property:

• Residential
• Commercial
• Industrial
• Land
   

The report has provided a detailed breakup and analysis of the market based on the property. This includes residential, commercial, industrial, and land.

Breakup by Business:

• Sales
• Rental 
   

A detailed breakup and analysis of the market based on the business has also been provided in the report. This includes sales and rental.

Breakup by Mode:

• Online
• Offline
   

The report has provided a detailed breakup and analysis of the market based on the mode. This includes online and offline.

Breakup by Country:

• Saudi Arabia
• UAE
• Qatar
• Bahrain
• Kuwait
• Oman
   

The report has also provided a comprehensive analysis of all the major GCC markets, which include Saudi Arabia, the UAE, Qatar, Bahrain, Kuwait, and Oman.

Competitive Landscape:

• The report has also provided a comprehensive analysis of the competitive landscape in the GCC real estate market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
• Key GCC real estate companies within the market continue to enhance their portfolios while strategically using technological advancements to take their operations a step further. They are engaging in integrated development that harmonizes the creation of residential, commercial, and hospitality projects in a pulsating community. Additionally, they are solidifying their project pipeline by banking on investments that inculcate green and smart construction technologies in tandem with international trends. Along with this, the advent of more innovative, waterfront, and of large-scale developments to attract more local and foreign investors is positively influencing the market. Key players are also investing in the area of public-private partnerships in line with government initiatives to expand infrastructure and urban development. Furthermore, the diversification of the area of affordable housing as well as property management services to create multiple streams of revenue is creating a positive market GCC real estate market outlook.

GCC Real Estate Market Report Scope:

Key Questions Answered in This Report:

• How has the GCC real estate market performed so far, and how will it perform in the coming years?
• What has been the impact of COVID-19 on the GCC real estate market?
• What is the breakup of the GCC real estate market on the basis of property?
• What is the breakup of the GCC real estate market on the basis of business?
• What is the breakup of the GCC real estate market on the basis of mode?
• What are the various stages in the value chain of the GCC real estate market?
• What are the key driving factors and challenges in the GCC real estate market?
• What is the structure of the GCC real estate market, and who are the key players?
• What is the degree of competition in the GCC real estate market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the GCC real estate market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the GCC real estate market.
• The study maps the leading, as well as the fastest-growing, markets. It further enables stakeholders to identify the key country-level markets within the region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the GCC real estate industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.