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Oman will strengthen its hospitality sector with 700 new keys by December, which will boost its total inventory to 40,800 keys in 2026. Following a slow period in H1, when 400 rooms were delivered – all in Q1 and Q2 recording no deliveries – Oman’s Khareef and winter travel seasons will be key drivers in the sector’s performance for the rest of the year, a report by Cavendish Maxwell, a real estate advisory and hospitality property consultancy, said.
Saudi Arabia saw a 50 percent annual uptick in residential transactions, recording US$31.45 billion in 2024 across Riyadh, Jeddah, and Dammam Metropolitan Area (DMA), Deloitte revealed in its latest real estate market review. The market is set to experience robust growth through 2025, fuelled by the Kingdom's Vision 2030 reform agenda and commitment to economic diversification. Key developments, including major events like Expo 2030 and the FIFA World Cup 2034, alongside giga-projects such as NEOM, the Red Sea, and Qiddiya, will further drive economic boon.
Jeddah’s real estate sector is booming thanks to a robust pipeline of 1,000 branded residential units and over 30,000 new hotel keys targeting completion by 2030 as part of Saudi’s ambitious Vision 2030. The market evolution was highlighted at the annual roundtable meeting hosted by Jones Lang LaSalle’s (JLL), a leading global commercial real estate and investment management company. At the meeting, industry leaders discussed Jeddah’s macroeconomic backdrop and key trends shaping its office, residential, retail, and hospitality sectors.
