MENA Region's Real Estate Market Flourishes Amidst Regional Competition

The global real estate market is estimated to be worth a staggering USD 613 trillion, and the MENA region is experiencing its boom within this vast sector. This article delves into the regional competition within the MENA real estate market, highlighting the sales performance of some key countries in 2022.

Egypt emerges as the second-largest market after Dubai, showcasing its potential. It's important to note that Egypt's figures only reflect the gated community market, emphasizing the specific segment driving its growth.

Here's a breakdown of the 2022 regional real estate sales value comparison:

• Egypt: Gated Communities Sales - 475 billion EGP (approximately USD 25 billion)
• KSA (Kingdom of Saudi Arabia): Sales - 90 billion SAR (approximately USD 24 billion)
• Dubai: Sales - 215 billion AED (approximately USD 58.5 billion)
• Qatar: Sales - 21 billion QAR (approximately USD 5.8 billion)
• Bahrain: Sales - 1.08 billion BHD (approximately USD 2.86 billion)

These figures showcase the diversity and dynamism of the MENA region's real estate market. While Dubai remains the dominant player, other countries like Egypt and KSA are demonstrating significant growth potential.