Following the recent announcement about the acquisition of Lamudi Middle East, Bayut has made the much-anticipated expansion into real estate in Saudi Arabia with the launch of Bayut.sa. This entry into the Saudi Arabia real estate market has been on the cards for some time and the team has been conducting detailed research into the needs of the property industry in the country. The new Bayut domain in Saudi Arabia will feature a selection of properties for tenants and investors looking to rent, buy or sell real estate in Saudi Arabia. We will also be partnering with real estate companies in Saudi Arabia to support agents and brokers. Whether it’s apartments for rent in Saudi Arabia’s Jeddah district or houses for sale in Riyadh, Bayut.sa will help you discover the perfect property for you.
The Launch of Bayut.sa in Saudi Arabia Real Estate Market
The launch of the Bayut in the real estate market in Saudi Arabia is the first step in our efforts to grow into a formidable pan Arab brand with operations across the MENA region.
Real estate in Saudi Arabia has witnessed a significant boom in the last few years. There have been many public and private sector initiatives to bolster the Saudi property market, which has been pivotal in attracting investors from across the region. With the launch of the Riyadh Metro and other mixed-use mega-developments announced as part of the kingdom’s ambitious Vision 2030, the Saudi real estate market has been really stimulated. Some of the notable projects with commercial and residential properties for sale in Saudi Arabia include the $500-billion city NEOM, Qiddiya, and the Red Sea project.
The government authorities have also introduced affordable housing programmes in the Saudi real estate to increase home ownership among Saudi nationals. One of the most prominent among them, is the Sakani low cost housing scheme.
According to data recently released by KPMG, residential units in Riyadh and Jeddah are predicted to increase by 2.3% and 2.5% respectively in this year, which is certainly good news for the Saudi Arabian real estate market.
Haider Ali Khan, the CEO of Bayut, talked about the importance of the Saudi real estate market and elaborated on Bayut’s plans for the property industry in the region.
“The launch of Bayut.sa is a very exciting moment for us. Saudi Arabia is a formidable player in the GCC and taking our expertise to this market is not only a testament to our tremendous growth, but also an opportunity for us to show the region how valuable technology can be in simplifying experiences for property seekers. We want to provide the same level of support to real estate agents in Saudi Arabia and end-users and improve their overall experience when it comes to buying, selling or renting homes in Saudi Arabia.”
“It has been around a month since we announced the acquisition of Lamudi’s assets in Saudi Arabia, Jordan and the UAE and we feel that it is the ideal time for us to enter this market. Saudi Arabia is also a perfect fit for us because of the cultural and economic synergies with our home country, the UAE, but it is also a larger market in terms of geography and population. This launch will prove to be a positive contribution to the real estate industry in the region, bringing comprehensive, detailed and accurate property listings and information, as well as insightful market analysis. We look forward to taking the company to the next level with our first regional expansion as Bayut”, said Khan.
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