The latest report by IMARC Group, titled “GCC Commercial Real Estate Market Report by Type (Brokerage, Management), Solution (Sales, Leasing, and Others), Application (Offices, Industrial, Retail, Multifamily, and Others), and Country 2024-2032” The study provides a detailed analysis of the industry, including the GCC commercial real estate market trends, size, share, growth, price and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Factors Affecting the Growth of GCC Commercial Real Estate Industry:

• Economic Growth and Diversification:

The GCC (Gulf Cooperation Council) countries have experienced robust economic growth in recent years, driven by factors such as oil revenues, government investments, and economic diversification initiatives. This economic prosperity has had a direct impact on the commercial real estate market in the region. With diversified economies, the GCC nations are attracting foreign investments across various sectors. This influx of capital has led to increased demand for commercial real estate, as businesses look to establish their presence in these growing markets. Major cities, such as Dubai, Abu Dhabi, and Riyadh have witnessed a rise in demand for office spaces, retail outlets, and industrial properties. Furthermore, the strategic location of GCC as a global hub for trade and commerce has boosted the logistics and warehousing sector, creating a need for modern industrial facilities. This economic growth is expected to continue driving the GCC commercial real estate market in the coming years.

• Rapid Infrastructure Development:

The GCC region has been heavily investing in infrastructure development projects, including airports, seaports, transportation networks, and smart cities. These projects are enhancing connectivity and also reshaping the landscape of commercial real estate. The development of world-class infrastructure has spurred demand for commercial properties near these key transportation hubs. Businesses are seeking locations that offer easy accessibility and connectivity to consumers and suppliers. As a result, areas around major infrastructure projects have become prime real estate hotspots. Moreover, the construction of smart cities with integrated technology solutions is attracting businesses looking for innovative and sustainable office spaces. These developments are increasing the quantity of commercial real estate and also raising the quality standards, making the GCC region an attractive destination for investors and businesses alike.

• Rapidly Growing Tourism and Hospitality Industry:

Tourism has been a significant driver of the GCC commercial real estate market. The region has emerged as a popular tourist destination, with attractions ranging from luxury resorts and shopping malls to cultural and historical sites. The influx of tourists has led to a rise in demand for hotel and hospitality properties. Investors have been keen to capitalize on this trend by developing world-class hotels and resorts. Additionally, the growth of the tourism sector has boosted the demand for retail spaces, especially in areas frequented by tourists.

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GCC Commercial Real Estate Market Report Segmentation:   

By Type:

• Brokerage
• Management

Based on the type, the market has been divided into brokerage and management.

By Solution:

• Sales
• Leasing
• Others

On the basis of the solution, the market has been segmented into sales, leasing, and others.

By Application:

• Offices
• Industrial
• Retail
• Multifamily
• Others

Based on the application, the market has been segregated into offices, industrial, retail, multifamily, and others.

Country Insights:

• Saudi Arabia
• United Arab Emirates
• Qatar
• Kuwait
• Oman
• Bahrain

Country-wise, the market has been classified into Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman, and Bahrain.

GCC Commercial Real Estate Market Trends:

Foreign direct investment has played a pivotal role in propelling the GCC commercial real estate market forward. The region has been actively promoting itself as an attractive destination for foreign investors. Favorable regulatory frameworks, tax incentives, and business-friendly policies have made it easier for international companies to establish a presence in the GCC. As a result, there is a continuous influx of foreign businesses setting up offices and operations in the GCC countries. These organizations often seek commercial real estate options, including office spaces and industrial facilities. The rise in FDI has diversified the tenant base and also contributed to the growth of the real estate market, as developers cater to the specific needs of these businesses. Additionally, urbanization and population growth are driving forces behind the commercial real estate sector of GCC. The region has experienced significant urban expansion, with a growing number of individuals moving from rural areas to cities in search of better opportunities and a higher quality of life. This urbanization trend has led to increased demand for residential, retail, and office spaces within city centers. As the population continues to grow, developers are focusing on creating mixed-use developments that offer a blend of residential, commercial, and recreational facilities. Such developments cater to the evolving needs of urban residents, contributing to the vitality of the commercial real estate market.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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