GCC’s real estate sales soar 42% to hit $137bn

GCC’s real estate sales soar 42% to hit $137bn

The overall growth was driven by Dubai’s real estate sector, where sales were up 86 percent, followed by Saudi Arabia, where purchases were up 25 percent, MEED reported.

The market is experiencing an oversupply of luxury and ultra-luxury properties. It is expected that the trend will continue to drive the development of more high-end real estate projects going forward.

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