Market Trends of Saudi Arabia Interior Design Industry
Increasing Demand for Residential Real Estate
With a continuous rise in its market value, the residential sector is occupying the leading position in Saudi Arabia's interior design market. The existing demand for high-quality interior services is leading to the expansion of new residential projects in the country. The country exists with the goal of making available homes to almost 70% of its population in the coming six years with existing government support for residential real estate expansion. The Public Investment Fund (PIF) and ROSHN, which exist as residential real estate developers, are spending a large sum with the support of Saudi Arabia’s sovereign wealth fund for building integrated communities that will house more than 2.2 million people in the country over the coming period. This increasing expansion and investment in residential real estate is developing opportunities for the interior design market in the country.
Rapid Urbanization in the Country
The degree of urbanization in Saudi Arabia has observed a continuous increase in growth over the years, with a rising level of urban population growth after the negative impact of COVID-19. With increasing urbanization, commercial as well as residential spaces in the country are observing an increase. Riyadh, Jeddah, Makkah, and Madinah are among some of the major countries in the region with rapidly expanding real estate and Interior design markets. With rising urbanization, household disposable income in the country has observed an increase, leading to increased people spending on home designing and customized theme-based interiors. With its announcement of Vision 2030, Saudi Arabia is observing a huge investment in giga projects such as Qiddiyah to NEOM for the development and expansion of its cities, leading to global interior design firms investing in the country.
