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Saudi investors keen on real estate and looking abroad

Saudi investors keen on real estate and looking abroad

DUBAI: Most investors in Saudi Arabia are committed to real estate as their main investment vehicle, but many are looking outside the Kingdom for opportunities in the property market, according to a new survey of investment patterns among residents.

Some 85 percent of Saudi residents have invested in property at some stage, but over half of respondents are considering putting their cash into international real estate, the survey, by market research firm YouGov on behalf of British property developer Select Group, reveals.

“Investor confidence is only further evidenced by the frequency in which investments are being made. The results found that almost a quarter (23 percent) of investors based in Saudi Arabia look to make a new investment at least every three months.

“Respondents were asked to consider their previous and potential future investments in bonds, stocks and real estate – both domestically and internationally – as well as mutual funds, bank products, gold and precious metals, cryptocurrency and fine art. Across every category, respondents demonstrated a desire to increase their level of investment in the coming years,” the report said.