Riyadh and Jeddah are leading exciting changes in Saudi Arabia’s retail scene. They’re set to gain nearly 395,000 square meters of new lifestyle retail space by 2027. This includes trendy restaurants, entertainment spots, and lively public areas, reshaping how people shop and hang out.
According to Knight Frank’s report, the rapid growth in these cities is part of Saudi Arabia’s Vision 2030 plan aimed at diversifying the economy. Since 2021, Riyadh and Jeddah have already added over 148,000 square meters of new retail space.
In another part of Asia, Thailand’s Finance Ministry is evaluating changes to tax laws that affect earnings from foreign investments. Currently, Thais have to pay taxes when bringing money earned abroad back into the country. Finance Minister Pichai Chunhavajira mentioned that this change could encourage more people to return their funds. He highlighted that this review seeks to align better with international standards.
Looking at the broader Asia-Pacific region, the residential property market presents mixed signals for 2025. According to Savills, several factors like interest rates and government policies will influence this market.
- China’s residential market is unpredictable with different regions experiencing distinct trends.
- Japan’s multifamily residential sector continues to attract global investors, but opinions seem divided on future acquisitions.
- In Australia, the residential market is stabilizing after a period of rapid growth driven by population increases and economic strength.
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