The report covers current and future retail demand and supply on the basis of gross leasing area. For further reading click on the link below: https://www.kenresearch.com/manufacturing-and-construction/real-estate/riyadh-retail-real-estate-market/122993-97.html

1. Increasing Retail Supply along with a Slow Conversion Rate is
Expected to cause Retail Oversupply to Reach GLA of 439
thousand Sq M. by 2021: Ken Research

2. High disposable income and government initiatives to diversify
the economy and encourage foreign investment and ownership
will augmented retail expenditure in Riyadh.
Factors including location, neighboring competition, catchment
area and efficiency of mall management are taken into
consideration before the construction of retail development
projects.

3. Saudi Arabian General Investment Authority allowed 100% FDI in
the retail sector, giving international brand the ability to set up
their outlets in the Kingdom without partnering with local
entities
Ken Research in its latest study, “Riyadh Retail Real Estate
Market Outlook to 2021” suggests that retail oversupply will
continue to exist in the future. However, major mall developers
have delayed large scale projects to reduce downward pressure
on rent and augment occupancy rate across the city. Existing and
new entrants will look to capitalize on competitively priced land
across northeastern and southern Riyadh. Total retail supply in
Riyadh is projected to achieve a CAGR of 17.2% during the period
2016-2021. Conversely, Retail demand is estimated to witness a
CAGR of 14.8% during the same period.

4. The evolution of the retail sector has transformed the Kingdom’s
landscape from small and unorganized retail outlets to the
development of large scale shopping malls. The primary reason
for this trend is because retailers have realized the increased
number of visitors to regional and super regional malls as a result
of integrated spaces and a shift in consumer shopping experience
towards leisure and entertainment.
Saudi Vision 2030 with respect to feminization in the retail sector
has targeted women participation in the workforce to increase
from the current 22% to 30% in the future. Increasing female
participation in the retail sector will positively impact growing
number of female owned businesses coupled with higher income
and spending power. A crucial factor that has further aided retail
sales is the country is the lack of recreational activities available
across the country.

5. The Kingdom has banned cinemas and other forms of recreation
and entertainment. Mall and community center shopping is one of
the few socially acceptable and widely accessible leisure and
recreational options available to families within the country.
Key Topics Covered in the Report:
Al Sadhan Malls in Riyadh
Riyadh Shopping Mall Market
Growth Shopping Centres in Riyadh
Riyadh Retail Mall Demand
Riyadh Retail Supply Gross Leasable Area
Shopping Malls in Saudi Arabia
Future Outlook Retail Supply Riyadh
Case Study Othaim Mall in Riyadh
Community Center Riyadh Market
Super Regional Malls Market Saudi Arabia

6. For further reading click on the link below:
https://www.kenresearch.com/manufacturing-and-
construction/real-estate/riyadh-retail-real-estate-market/122993-
97.html
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https://www.kenresearch.com/manufacturing-and-
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7. Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
query@kenresearch.com
+91-124-4230204