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Construction of rental housing units
The project aims to build residential units for rent in a strategic area, in response to the growing demand for housing in major cities.
The project will include the development of a range of residential apartments of various sizes, with the provision of all basic services such as parking lots, security, and building maintenance. The project will contribute to meeting the market’s need for rental housing units, providing flexible housing options for employees and families.
It also provides investors with the opportunity to realize a stable income from long-term rentals. The project will create jobs in construction, management, and maintenance.
Study content
Rationale for choosing the project
Rising demand for residential rentals:
With Saudi Arabia’s rapidly growing population, especially in major cities such as Riyadh, Jeddah, and Dammam, the demand for residential rental units is on the rise.
Young couples, young couples, young families, and expatriates make up the largest group of rental applicants.
Changing social patterns:
Changes in lifestyles and the preference of new generations to rent rather than own, especially in light of the flexibility of living in rental units compared to owned units.
Government support for the housing sector:
The Saudi government seeks to achieve a high homeownership rate, but it also supports the rental sector by providing facilities and financing for housing projects.
Stable investment returns:
Investing in residential real estate for rent provides a steady and stable income over the long term, with opportunities to increase real estate value over time.
Demand analysis
Target markets:
Young people and small families looking for modern and equipped housing units.
Professional expats working in various sectors such as petroleum, technology, and financial services.
Market trends:
Rental market growth of 5-7% per annum driven by population growth and urbanization.
Increasing demand for smart housing units equipped with energy management systems and modern technology.
Competition analysis:
Competition from large-scale residential projects such as compounds and government complexes.
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