Market Size of GCC REIT Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 10.37 Billion |
| Market Size (2029) | USD 15.40 Billion |
| CAGR (2024 - 2029) | 8.24 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
GCC REIT Market Analysis
The GCC REIT Industry is expected to grow from USD 10.37 billion in 2024 to USD 15.40 billion by 2029, at a CAGR of 8.24% during the forecast period (2024-2029).
The GCC has seen several Real Estate Investment Trusts (REITs) listed in stock exchanges in the past few years. This accelerated after Saudi Arabia's Capital Markets Authority (CMA) approved the listing of REITs in 2016 as a part of the National Transformation Program (NTP) and Saudi Vision 2030. Due to the economic crisis in the wake of the COVID-19 pandemic, many of the listed REITs have seen a steep decline in their share prices and market capitalizations.
REITs are not as popular in the GCC as in advanced countries despite the region being home to wealthy individuals and large institutional investors. The lack of a regulatory framework for the listing and operation of REITs remains a major hindrance to its development in the region. However, the region's capital markets authority (CMA) has started revamping regulations to pave the way for the development of alternative investments.
The future looks promising for REITs in GCC, especially with the new class of investors looking for investment products to diversify their portfolios in the local markets. Islamic REITs can be a preferable option for traditional investors who wish to invest in Sharia-compliant products in different asset classes, such as real estate.
