{"id":3695,"date":"2019-07-22T07:50:00","date_gmt":"2019-07-22T07:50:00","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=3695"},"modified":"2021-06-04T14:33:21","modified_gmt":"2021-06-04T07:33:21","slug":"jeddah-home-purchases-rise-twofold-in-may","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/jeddah-home-purchases-rise-twofold-in-may\/","title":{"rendered":"Jeddah home purchases rise twofold in May"},"content":{"rendered":"<p>Saudi Arabia promotes low-cost home ownership in run-up to Vision 2030<\/p>\n<figure id=\"attachment_3696\" aria-describedby=\"caption-attachment-3696\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-3696\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/07\/shutterstock_1437919418.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/07\/shutterstock_1437919418.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/07\/shutterstock_1437919418-300x200.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/07\/shutterstock_1437919418-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-3696\" class=\"wp-caption-text\">New Corniche, Jeddah, Saudi Arabia. Laarow\/Shutterstock<\/figcaption><\/figure>\n<p>Residential projects in Jeddah that cater to low- and middle-income earners show signs of robust demand, according to CBRE via <a href=\"https:\/\/www.thenational.ae\/business\/jeddah-property-purchases-more-than-double-on-government-initiatives-cbre-says-1.888802\" target=\"_blank\" rel=\"noopener noreferrer\">The National<\/a>.<\/p>\n<p>Propelled by the government\u2019s affordable housing scheme, the number of mortgage contracts in Saudi Arabia\u2019s second-largest city hit 58,809 in the first five months of 2019, a twofold increase from the same period a year earlier, the consultancy reported Sunday.<\/p>\n<p>The contracts represent a combined value of SAR27 billion (USD7.2 billion).<\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/saudi-arabia-loosens-ownership-rules-for-wealthy-foreigners\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>More: Saudi Arabia loosens residency rules for investors, skilled foreigners<\/strong><\/a><\/p>\n<p>\u201cWe have seen a number of opportunities consistently arising across all asset classes, with the government\u2019s continued investments reaping rewards as the KSA\u2019s real estate sector grows,\u201d CBRE researchers were quoted as saying.<\/p>\n<p>Affordable housing schemes are gaining traction in the kingdom as the Ministry of Housing implements key policies leading to Vision 2030. The development plan, formed in part to reduce the kingdom\u2019s dependence on oil, aims to promote the rate of home ownership by 60 percent next year, 70 percent by 2030.<\/p>\n<p>To this end, the government has offered low-cost housing initiatives in cities throughout the kingdom.<\/p>\n<p>In addition to residential projects, mixed-use sites are drawing investments in Jeddah. Projects like Jeddah Gate, Tahlia Park and Lilian Towers are particularly popular among businesses and visitors, with Simon Townsend, general manager at CBRE Saudi Arabia, foreseeing the country\u2019s \u201cdedication to evolving its entertainment sector\u201d as a catalyst to \u201cexponential growth\u201d across a range of sectors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Arabia promotes low-cost home ownership in run-up to Vision 2030<\/p>\n","protected":false},"author":8,"featured_media":20186,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92],"tags":[239,401,167,238],"class_list":["post-3695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-jeddah","tag-mena","tag-middle-east","tag-saudi-arabia","news_country-rest-of-asia","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Jeddah home purchases rise twofold in May | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/jeddah-home-purchases-rise-twofold-in-may\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jeddah home purchases rise twofold in May | Asia Property Awards\" \/>\n<meta property=\"og:description\" content=\"Saudi Arabia promotes low-cost home ownership in run-up to Vision 2030\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.asiapropertyawards.com\/en\/jeddah-home-purchases-rise-twofold-in-may\/\" \/>\n<meta property=\"og:site_name\" content=\"Asia Property Awards\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/asiapropertyawards\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-22T07:50:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-06-04T07:33:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_1437919418.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Al Gerard de la Cruz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@AsiaPropAwards\" \/>\n<meta name=\"twitter:site\" content=\"@AsiaPropAwards\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Al Gerard de la Cruz\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/jeddah-home-purchases-rise-twofold-in-may\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/jeddah-home-purchases-rise-twofold-in-may\\\/\"},\"author\":{\"name\":\"Al Gerard de la Cruz\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#\\\/schema\\\/person\\\/d598baf75e0e9766e7eff8e4d8ab25ca\"},\"headline\":\"Jeddah home purchases rise twofold in May\",\"datePublished\":\"2019-07-22T07:50:00+00:00\",\"dateModified\":\"2021-06-04T07:33:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/jeddah-home-purchases-rise-twofold-in-may\\\/\"},\"wordCount\":270,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/jeddah-home-purchases-rise-twofold-in-may\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/shutterstock_1437919418.jpg\",\"keywords\":[\"jeddah\",\"mena\",\"middle east\",\"saudi arabia\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/jeddah-home-purchases-rise-twofold-in-may\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/jeddah-home-purchases-rise-twofold-in-may\\\/\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/jeddah-home-purchases-rise-twofold-in-may\\\/\",\"name\":\"Jeddah home purchases rise twofold in May | Asia Property Awards\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/jeddah-home-purchases-rise-twofold-in-may\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/jeddah-home-purchases-rise-twofold-in-may\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/shutterstock_1437919418.jpg\",\"datePublished\":\"2019-07-22T07:50:00+00:00\",\"dateModified\":\"2021-06-04T07:33:21+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/jeddah-home-purchases-rise-twofold-in-may\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/jeddah-home-purchases-rise-twofold-in-may\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/jeddah-home-purchases-rise-twofold-in-may\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/shutterstock_1437919418.jpg\",\"contentUrl\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/shutterstock_1437919418.jpg\",\"width\":1000,\"height\":667},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/jeddah-home-purchases-rise-twofold-in-may\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Jeddah home purchases rise twofold in May\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/\",\"name\":\"Asia Property Awards\",\"description\":\"PropertyGuru Asia Property Awards\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#organization\",\"name\":\"Asia Property Awards\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Trophy_2.png\",\"contentUrl\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Trophy_2.png\",\"width\":1920,\"height\":1080,\"caption\":\"Asia Property Awards\"},\"image\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/asiapropertyawards\",\"https:\\\/\\\/x.com\\\/AsiaPropAwards\",\"https:\\\/\\\/www.instagram.com\\\/asiapropertyawards\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/showcase\\\/asia-property-awards\",\"https:\\\/\\\/www.youtube.com\\\/channel\\\/UCCMEFMU-KW5dEKfb5dPTL9Q\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#\\\/schema\\\/person\\\/d598baf75e0e9766e7eff8e4d8ab25ca\",\"name\":\"Al Gerard de la Cruz\",\"description\":\"Deputy Editor\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/author\\\/gerard\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Jeddah home purchases rise twofold in May | Asia Property Awards","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.asiapropertyawards.com\/en\/jeddah-home-purchases-rise-twofold-in-may\/","og_locale":"en_US","og_type":"article","og_title":"Jeddah home purchases rise twofold in May | Asia Property Awards","og_description":"Saudi Arabia promotes low-cost home ownership in run-up to Vision 2030","og_url":"https:\/\/www.asiapropertyawards.com\/en\/jeddah-home-purchases-rise-twofold-in-may\/","og_site_name":"Asia Property Awards","article_publisher":"https:\/\/www.facebook.com\/asiapropertyawards","article_published_time":"2019-07-22T07:50:00+00:00","article_modified_time":"2021-06-04T07:33:21+00:00","og_image":[{"width":1000,"height":667,"url":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_1437919418.jpg","type":"image\/jpeg"}],"author":"Al Gerard de la Cruz","twitter_card":"summary_large_image","twitter_creator":"@AsiaPropAwards","twitter_site":"@AsiaPropAwards","twitter_misc":{"Written by":"Al Gerard de la Cruz","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.asiapropertyawards.com\/en\/jeddah-home-purchases-rise-twofold-in-may\/#article","isPartOf":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/jeddah-home-purchases-rise-twofold-in-may\/"},"author":{"name":"Al Gerard de la Cruz","@id":"https:\/\/www.asiapropertyawards.com\/en\/#\/schema\/person\/d598baf75e0e9766e7eff8e4d8ab25ca"},"headline":"Jeddah home purchases rise twofold in May","datePublished":"2019-07-22T07:50:00+00:00","dateModified":"2021-06-04T07:33:21+00:00","mainEntityOfPage":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/jeddah-home-purchases-rise-twofold-in-may\/"},"wordCount":270,"commentCount":0,"publisher":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/#organization"},"image":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/jeddah-home-purchases-rise-twofold-in-may\/#primaryimage"},"thumbnailUrl":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_1437919418.jpg","keywords":["jeddah","mena","middle east","saudi arabia"],"articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.asiapropertyawards.com\/en\/jeddah-home-purchases-rise-twofold-in-may\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.asiapropertyawards.com\/en\/jeddah-home-purchases-rise-twofold-in-may\/","url":"https:\/\/www.asiapropertyawards.com\/en\/jeddah-home-purchases-rise-twofold-in-may\/","name":"Jeddah home purchases rise twofold in May | Asia Property Awards","isPartOf":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/jeddah-home-purchases-rise-twofold-in-may\/#primaryimage"},"image":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/jeddah-home-purchases-rise-twofold-in-may\/#primaryimage"},"thumbnailUrl":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_1437919418.jpg","datePublished":"2019-07-22T07:50:00+00:00","dateModified":"2021-06-04T07:33:21+00:00","breadcrumb":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/jeddah-home-purchases-rise-twofold-in-may\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.asiapropertyawards.com\/en\/jeddah-home-purchases-rise-twofold-in-may\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.asiapropertyawards.com\/en\/jeddah-home-purchases-rise-twofold-in-may\/#primaryimage","url":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_1437919418.jpg","contentUrl":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_1437919418.jpg","width":1000,"height":667},{"@type":"BreadcrumbList","@id":"https:\/\/www.asiapropertyawards.com\/en\/jeddah-home-purchases-rise-twofold-in-may\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.asiapropertyawards.com\/en\/"},{"@type":"ListItem","position":2,"name":"Jeddah home purchases rise twofold in May"}]},{"@type":"WebSite","@id":"https:\/\/www.asiapropertyawards.com\/en\/#website","url":"https:\/\/www.asiapropertyawards.com\/en\/","name":"Asia Property Awards","description":"PropertyGuru Asia Property Awards","publisher":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.asiapropertyawards.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.asiapropertyawards.com\/en\/#organization","name":"Asia Property Awards","url":"https:\/\/www.asiapropertyawards.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.asiapropertyawards.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/12\/Trophy_2.png","contentUrl":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/12\/Trophy_2.png","width":1920,"height":1080,"caption":"Asia Property Awards"},"image":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/asiapropertyawards","https:\/\/x.com\/AsiaPropAwards","https:\/\/www.instagram.com\/asiapropertyawards\/","https:\/\/www.linkedin.com\/showcase\/asia-property-awards","https:\/\/www.youtube.com\/channel\/UCCMEFMU-KW5dEKfb5dPTL9Q"]},{"@type":"Person","@id":"https:\/\/www.asiapropertyawards.com\/en\/#\/schema\/person\/d598baf75e0e9766e7eff8e4d8ab25ca","name":"Al Gerard de la Cruz","description":"Deputy Editor","url":"https:\/\/www.asiapropertyawards.com\/en\/author\/gerard\/"}]}},"_links":{"self":[{"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/posts\/3695","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/comments?post=3695"}],"version-history":[{"count":0,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/posts\/3695\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/media\/20186"}],"wp:attachment":[{"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/media?parent=3695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/categories?post=3695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/tags?post=3695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}