MENA Real Estate Market - Overview September 2012 www.ventures-me.com www.cityscapeglobal.com MENA Real Estate Market - Overview September 2012 Table of Contents MENA Real Estate Market - Overview September 2012 ................................................................................... 1 Chapter1. Overview of GCC and MENA Real Estate Markets ............................................................................ 6 Investment Profile of MENA Countries –Established and Emerging Markets- Investment Attractiveness Index ................................................................................................................................................................... 7 Emerging Markets .............................................................................................................................................. 8 Jordan ........................................................................................................................................................... 10 Political Stability ....................................................................................................................................... 10 Economic Policy and growth .................................................................................................................... 11 Real Estate ................................................................................................................................................ 12 Egypt ................................................................................................................................................................. 12 Political Stability ....................................................................................................................................... 12 Economic Policy and Growth ................................................................................................................... 12 Real Estate ................................................................................................................................................ 13 Lebanon ............................................................................................................................................................ 13 Political Stability ........................................................................................................................................... 13 Economic Policy and growth ........................................................................................................................ 13 Real Estate .................................................................................................................................................... 14 Kuwait............................................................................................................................................................... 15 Political Stability ....................................................................................................................................... 15 Economic Policy and Growth ................................................................................................................... 15 Bahrain ............................................................................................................................................................. 15 Political Stability ........................................................................................................................................... 15 Economic Policy and growth ........................................................................................................................ 16 Oman ................................................................................................................................................................ 16 Political Stability ........................................................................................................................................... 16 www.ventures-me.com P a g e : 2 www.cityscapeglobal.com MENA Real Estate Market - Overview September 2012 Economic Policy and Growth ....................................................................................................................... 17 Real Estate .................................................................................................................................................... 17 Established Markets ..................................................................................................................................... 17 Saudi Arabia ............................................................................................................................................. 18 Qatar ........................................................................................................................................................ 19 United Arab Emirates (UAE) ..................................................................................................................... 20 Chapter 2.Overview of Real Estate Markets in the GCC .................................................................................. 23 Introduction ..................................................................................................................................................... 23 Market Size –Budget Totals for the Building Construction Industry ............................................................... 23 GCC Projects by Stage of Construction ............................................................................................................ 26 Regulatory and Legal Framework of the GCC Real Estate Markets ................................................................. 28 UAE ............................................................................................................................................................... 29 Kingdom of Saudi Arabia .............................................................................................................................. 30 Qatar ............................................................................................................................................................ 30 Bahrain ......................................................................................................................................................... 31 Kuwait........................................................................................................................................................... 31 Oman ............................................................................................................................................................ 31 Real Estate Demand and Supply in GCC Markets – Analysis and Forecasts .................................................... 32 Saudi Arabia Real Estate Demand Supply Analysis .......................................................................................... 32 Saudi Arabia Residential Sector ................................................................................................................... 33 Saudi Arabia Commercial (Office) Sector ..................................................................................................... 34 Saudi Arabia Retail Sector ............................................................................................................................ 35 UAE Real Estate Demand Supply Analysis........................................................................................................ 36 UAE Residential Sector ................................................................................................................................. 38 UAE Commercial (Office) Sector .................................................................................................................. 39 UAE Retail (Office) Sector ............................................................................................................................ 40 www.ventures-me.com P a g e : 3 www.cityscapeglobal.com MENA Real Estate Market - Overview September 2012 Qatar Real Estate Demand Supply Analysis ..................................................................................................... 42 Qatar Residential Sector .............................................................................................................................. 43 Qatar Commercial (Office) Sector ................................................................................................................ 44 Qatar Retail Sector ....................................................................................................................................... 45 Kuwait Real Estate Demand Supply Analysis ................................................................................................... 45 Kuwait Residential Sector ............................................................................................................................ 46 Kuwait Commercial (Office) Sector .............................................................................................................. 47 Kuwait Retail Sector ..................................................................................................................................... 47 Bahrain Real Estate Demand Supply Analysis .................................................................................................