1、Saudi Arabia Real EstateMarket Review Q3 2022Limited stock levels constrain activity levels in market.CBRE RESEARCHNOVEMBER 2022REAL ESTATE MARKET REVIEW2CBRE RESEARCH 2022 CBRE,INC.FIGURES|SAUDI ARABIA REAL ESTATE MARKET REVIEW AND OUTLOOK|Q3 2022MACROECONOMIC OVERVIEW Over this period,the oil-rela

2、ted GDP growth rate increased by 14.5%,while non-oil GDP rate of growth increased by 5.6%production cutsin the year to Q3 2022,with the oil and non-oil sectors recording growth rates of 14.5%and 5.6%respectively.-oil economy has maintained the Index(PMI)continued to remain in expansionary territory

3、for the 26th consecutive month.In October 2022,the PMI has recorded a reading of 57.2 on the back of healthy demand translating into higher production and reading in 2022.FIGURES|SAUDI ARABIA REAL ESTATE MARKET|Q3 2022LIMITED STOCK LEVELS CONSTRAIN REAL ESTATE MARKET7.9%Forecast increase in GDP in 2

4、0222.5%Forecast rate of inflation in 20223.2%Total employment increase in Q3 from the previous quarter74.9%Increase in hotel RevPAR in YoY YTD to September 2022FIGURE 1:Saudi Arabia,Gross Domestic ProductSource:CBRE Research/Macrobond5.9%Growth in average Grade A office rents in Riyadh in the year t

5、o Q3 20223CBRE RESEARCH 2022 CBRE,INC.FIGURES|SAUDI ARABIA REAL ESTATE MARKET REVIEW AND OUTLOOK|Q3 2022MACROECONOMIC OVERVIEWAs efforts pertaining to creating job opportunities continue to ramp-up,the Saudi national unemployment rate declined to 9.7%in Q2 2022,where the non-Saudi national unemploym

6、ent rate also decreased to 1.9%.Both unemployment rates show improvements over the previous quarter of 0.4%for Saudi nationals and 0.3%for non-Saudi nationals.In the 12 months to Q2 2022,the total employment for Saudi nationals and non-Saudi nationals increased by 10.9%and 9.5%,respectively.During t