The retail sector in Jeddah is set to benefit from several new projects and developments, adding approximately 40,000sqm of GLA to the market, according to research by CBRE.

Simon Townsend, head of Strategic Advisory at CBRE MENAT and general manager, CBRE KSA, said: “The kingdom’s real estate sector remains to be one of key drivers of economic development and one of the key catalysts for continued growth. Despite a slight softening in performance, the sector maintains positive sentiment across the retail, office, residential and hospitality landscape.

“As a consequence, several under construction developments have already secured healthy occupancy levels, having adapted to market demands, whether it be flexibility over sizing, concepts or service offerings.”