{"id":15534,"date":"2016-06-05T21:57:19","date_gmt":"2016-06-05T14:57:19","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=15534"},"modified":"2016-06-05T20:09:52","modified_gmt":"2016-06-05T13:09:52","slug":"development-to-slow-in-saudi-arabias-eastern-province-but-pick-up-in-bahrain","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/development-to-slow-in-saudi-arabias-eastern-province-but-pick-up-in-bahrain\/","title":{"rendered":"Development to slow in Saudi Arabia's Eastern Province but pick up in Bahrain"},"content":{"rendered":"


\nDevelopment projects in Saudi Arabia’s Eastern Province look set to slow as the market nears the peak of its current cycle, according to a new study. JLL’s inaugural report on the Damman Metropolitan Area (DMA) says potential project delays and lower completion rates are more likely to happen as Saudi GDP growth is forecast to slow to 1.7 per cent this year, according to National Commercial Bank – its slowest growth rate since 2009.DMA is Saudi Arabia’s fourth-biggest urban area, with a population of 1.7 million spread across the neighbouring cities of Dammam, Al Khobar and Dhahran. It has about 331,000 homes, mainly older villas and low-rise apartments, with a further 26,000 units due within the next three years. Most of these are smaller schemes by local developers, but larger master planned schemes by the likes of Emaar Middle East, Riyadh-based Injaz Development and Kuwait-based Al Argan are also under way. Expats make up about 44 per cent (750,000 people) of the local population, which is driving demand for residential compounds. There are 15,100 homes in compounds and occupancy rates run at close to 100 per cent, although many expats still prefer to base themselves in nearby Bahrain and commute into Saudi Arabia. In the hospitality market, hotel capacity is likely to grow by almost a quarter during the next two years, as 2,000 rooms are added to the current stock of 6,100. New entrants will include the 236-key Four Points by Sheraton Dhahran and the Kempinski Al Othman Al Khobar. “As the Saudi economy changes, we will see competition in key sectors such as retail and hotels start to develop at a greater pace,” said Jamil Ghaznawi, JLL’s country head for Saudi Arabia. Meanwhile, CBRE has said that the residential market in neighbouring Bahrain is showing signs of a pickup in construction activity for the first time since the global financial crisis and the subsequent unrest in the country. Although the number of transactions dropped by 6 per cent quarter-on-quarter to 268.2 million Bahraini dinars (Dh2.8 billion), several new projects were launched, including Abu Dhabi-based Eagle Hills’ US$3bn Marassi Al Bahrain scheme within the Diyar Al Muharraq project, as well as new apartment launches at Dilmunia and Durrat Al Bahrain.Indeed, despite the slowdown in the oil market, the non-oil sector has contributed to sustained economic growth, with Bahrain’s Economic Development Board predicting GDP to remain at 2.9 per cent for this year, CBRE said.”This growth has been dominated by construction, private education, health care and tourism, and while real estate transactions have dropped, development activity and project planning has gained pace,” said James Lynn, a director of research and consultancy at the company. mfahy@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Development to slow in Saudi Arabia’s Eastern Province but pick up in Bahrain<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Development projects in Saudi Arabia’s Eastern Province look set to slow as the market nears...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-15534","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-42y","jetpack-related-posts":[{"id":159464,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/saudi-arabias-eastern-region-attracts-8bn-investments-across-key-sectors\/","url_meta":{"origin":15534,"position":0},"title":"Saudi Arabia\u2019s Eastern Region attracts $8bn investments across key sectors","date":"August 18, 2025","format":false,"excerpt":"\r Saudi investment projects span tourism, entertainment, sustainability, and urban development, generating SAR2bn ($533m) in annual revenues\r \r Source : arabianbusiness.com\r Read more...Saudi Arabia\u2019s Eastern Region attracts bn investments across key sectors","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/08\/Saudi-Eastern-Region-1000x693-1.jpg?fit=1000%2C693&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":168862,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/saudi-arabias-non-oil-private-sector-growth-slows-in-december-pmi-shows\/","url_meta":{"origin":15534,"position":1},"title":"Saudi Arabia\u2019s non-oil private sector growth slows in December, PMI shows","date":"January 5, 2026","format":false,"excerpt":"\r Saudi Arabia's non-oil private business sector remained firmly in growth territory in December The post Saudi Arabia\u2019s non-oil private sector growth slows in December, PMI shows appeared first on Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More.\r \r Source : arabianbusiness.com\r Read more...Saudi Arabia\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2026\/01\/Saudi-Riyal-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":44822,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bechtel-lands-contract-to-run-key-saudi-projects-body\/","url_meta":{"origin":15534,"position":2},"title":"Bechtel lands contract to run key Saudi projects body","date":"February 20, 2017","format":false,"excerpt":"\r The US construction company Bechtel has been awarded a contract to help set up and operate Saudi Arabia's National Project Management Organisation (NPMO). The NPMO, known as Mashroat, will support Saudi government agencies and municipalities to create their own project-management arms to manage large-scale, complex infrastructure programmes required under\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":164278,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/saudi-arabias-commercial-property-market-enters-stable-phase-as-growth-moderates\/","url_meta":{"origin":15534,"position":3},"title":"Saudi Arabia\u2019s commercial property market enters stable phase as growth moderates","date":"November 7, 2025","format":false,"excerpt":"\r RICS data shows the Saudi commercial real estate sector remains positive but is transitioning to a more balanced phase as occupier demand cools and new regulations take effect The post Saudi Arabia\u2019s commercial property market enters stable phase as growth moderates appeared first on Arabian Business: Latest News on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/11\/king-abdullah-financial-district-riyadh-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":161545,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/saudi-arabias-non-oil-exports-up-30-4-with-china-uae-and-india-driving-july-growth\/","url_meta":{"origin":15534,"position":4},"title":"Saudi Arabia\u2019s non-oil exports up 30.4% with China, UAE and India driving July growth","date":"September 25, 2025","format":false,"excerpt":"\r Saudi Arabia\u2019s non-oil exports rose 30.4 per cent in July 2025, with China, the UAE and India driving growth as the Kingdom\u2019s trade surplus climbed by 53.4 per cent\r \r Source : arabianbusiness.com\r Read more...Saudi Arabia\u2019s non-oil exports up 30.4% with China, UAE and India driving July growth","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/09\/saudi-flag-1000x667-8.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":135237,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/saudi-arabias-roshn-announces-major-alfulwa-development-to-house-100000-people\/","url_meta":{"origin":15534,"position":5},"title":"Saudi Arabia\u2019s ROSHN announces major ALFULWA development to house 100,000 people","date":"March 15, 2023","format":false,"excerpt":"\r Saudi Arabia\u2019s PIF-backed ROSHN Group announces a major new residential development\r \r Source : arabianbusiness.com\r Read more...Saudi Arabia\u2019s ROSHN announces major ALFULWA development to house 100,000 people","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2023\/03\/alfulwa-saudi-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/15534"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=15534"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/15534\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=15534"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=15534"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=15534"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}