Land for sale in Jeddah

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The future of land for sale in Jeddah

Jeddah has long been referred to as the commercial city of the Kingdom, which makes it one of the leading playmakers in achieving the ambitious vision set for 2030. Considered as one of the top cities for the expatriate community, The city’s rental market had always been in high demand, until the year 2016 reshuffled the overall status of expatriates within the country. The government’s budget cuts pushed many companies to downsize, forcing people to go back to their home countries. The Kingdom also plans to impose additional fees on dependents of expatriate employees, and this foresees further reduction of the expat population in the country. Many villas and apartments for rent in Jeddah are suddenly available on the market, and rental prices are going down in an impatient attempt to fill up the properties quickly.

These factors indicate how top decisions lead to ripple effects that need to be considedered in the pre-planning process of the development of empty land for sale in Jeddah. The Saudi real estate industry is the biggest in the region, and its implications on the financial standpoint of the country is massive.

There is no doubt that the years 2016 and 2017 will be transitional for Saudi Arabia, setting the stage for the future of property development in terms of closing the supply and demand gap in an efficient and effective manner. It is important that the top Government decisions are clearly followed through and monitored to guarantee that they have positive outcomes for both the people and the private sector.

 land for sale in Jeddah
 land in Jeddah

Taxation on white land in Jeddah

It is predicted that there will be an influx of land for sale in Jeddah due to the recent tax incurred on empty grounds within the city. Landowners will seek to either sell or develop their vacant estates to avoid the annual fees. Some will coordinate with real estate developers to establish residential projects, such as complexes for apartments or villas for sale.

Some of the urban plots within the center of major cities such as Riyadh are being transformed into hotels. This is in line with the Government’s vision to expand the country’s hospitality strategy and attract business people from across the world. There are also many malls and commercial plazas popping up here and there.

Additionally, many landowners are considering transorming the their plots into recreational facilities, providing the community with sporting opportuntiies such as football fields, basketball and tennis courts. This is a great way to give back, as most sporting facilities are within gated compounds, accessible only by compound residents.

It is very important to be able to understand the country’s needs and demands in terms of property search, entertainment and lifestyle. Proper research and coordination is key when it comes to planning and developing the empty plots. Previous years have shown that there is little regulation when it comes to big developments, as it was not uncommon to see two big supermarkets across the street from one another. The future cannot afford such competitiveness, especially as demand is at an all time high, and this is why urban planning is of utmost important at this stage.