Gurugram, India, March 21, 2023 (GLOBE NEWSWIRE) -- Technology is being embraced by JLL to meet the needs of their clients today and anticipate the opportunities of tomorrow. Their commitment to leading this transformation is a key component of their growth strategy and is reflected in their significant investments. JLLT is a global leader in Proptech - enhancing and refining their technology capabilities in order to deliver significant competitive advantages and value to their clients and the company.
With multiple cloud-based software solutions, the group enables occupiers and investors to make better decisions using data and analytics, gain unique insights, and reduce operating costs. By acquiring a number of companies in 2021, they strengthened their technological capabilities and broadened their product offerings:
- Skyline, a leading artificial intelligence technology company, uses proprietary machine learning models to gain a competitive advantage in originating and analyzing real estate opportunities for their producers
- Building Engines, a leading platform for building operations
- Hank is a virtual engineering platform focused on sustainability.
- With technological innovation and digitalization, these innovative concepts have flourished and percolated all aspects of our daily lives
The combination of new market entrants, new technologies and changing demographics have created disruptive models within commercial real estate. JLL has observed the line between technologically-driven operating businesses and real estate blurring. As the cost of technology and computing power continues to decline and the demand for higher speed, reliability, transparency and data-driven decisions in the e-commerce supply chain increases, logistics real estate is experiencing an accelerated introduction and innovation of new technology.
The report titled “KSA Real Estate Services Market” by Ken Research suggested a multi bagger CAGR of 27% in revenue in real estate services market in region in the KSA next 5 years till 2026.
KSA Real Estate Services Market
By Projects
- Government
- Semi Government
- Private
By Commercial
- Office
- Industrial
- Logistics
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By Region
- Riyadh
- Jeddah
- DMA
- Makkah and Medina
By Services
- Capital Markets
- Project and Development Service
- Leasing
- Property and Facility Management
- Advisory and Consulting.
By Industry
- Residential
- Hospitality
- Commercial
- Retail
- Healthcare
- Leisure
- .Others
Key Target Audience
- Real Estate Service Companies
- Facility Management Services Companies
- Real Estate Association
- Real Estate Developers
- Architects and Agents.
Time Period Captured in the Report:
- Base Year: 2021
- Forecast Period: 2021–2026F
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Companies Covered:
- Colliers
- CBRE
- JLL
- Knight Frank
- Compass and others.
Key Topics Covered in the Report
- KSA Real Estate Services Market Overview
- KSA Real Estate Services Market Size
- KSA Real Estate Services Market Ecosystem
- Market Ecosystem
- Value chain Analysis
- Decision Making Parameters for Customers
- Market Size for KSA Real Estate Services
- Market Segmentation for KSA Real Estate Service
- SWOT Analysis
- Issues and Challenges
- Key Trends in KSA Real Estate Services Market
- Issues and Challenges in KSA Real Estate Services Market
- Competition Framework
- COVID-19 Impact
- Future Outlook and Projections
For more insights on the market intelligence, refer to below link:-
KSA Real Estate Services Market
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Saudi Arabia faced fluctuating crude oil prices during 2015-2017 which affected their economy negatively. It recovered after 2018 majorly due to government initiatives and change in policies. The diversification efforts led by the Government of Saudi Arabia’s have led to a subsequent boost for employment and its GDP outlook. Major hotel groups within Riyadh are further planning to start open up hotels across the nation especially in the capital city Riyadh as they aim to meet the ever growing demands of both domestic tourists and international visitors on the account of major infrastructure projects and easing visa requirements.
Retail real estate market supply of Saudi Arabia has witnessed a positive CAGR during 2013-2018 and is projected to remain positive in future. The retail sector in Saudi Arabia has been hardest hit on the demand side by the expatriate exodus. The price-cutting has eased down a bit; however consumers are still price-sensitive. The market has witnessed developments that have transformed the retail market from small and unorganized markets to structured and extravagant shopping malls, with international brands, entertainment areas, hypermarkets and supermarkets. Majority of the retail outlets are spread across regional and super-regional malls and structured shopping centers that have replaced the traditional strip malls and shopping center retail concept.
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Ankur Gupta, Director Strategy and Growth
Ankur@kenresearch.com
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