In early August, Saudi Arabia’s Public Pensions Agency (PPA) launched a new housing project in Jeddah. Construction work on the 1,180 villas and 6,160 apartments should begin before the end of the year and the scheme will
Burned by grand and audacious real estate projects, which became financial burdens when market bubbles burst three years ago, property developers in the Gulf are putting more emphasis on mundane but affordable housing, a Reuters report said.
The middle income housing segment remains robust in Dubai despite the property prices having tumbled down by as much as 35 per cent since the start of 2009, said an industry expert.
“There is still a reasonable demand for middle income hou