Strategies to increase property sales in Saudi Arabia real estate: A case study of Al Saad Real Estate Development Company
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Date
2025
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University Technology Malaysia
Abstract
The Saudi Arabian real estate market has experienced robust demand in recent years, driven by population growth, urbanization, and government initiatives such as Vision 2030. However, despite this overall market growth, Al Saad Real Estate Development Company has observed a slight decline in property sales, which warrants closer examination. This study explores the factors contributing to this decline in sales within the company, despite favorable market conditions. To gain insights into the situation, the study employed two primary research methods: interviews with the company's staff to understand the current marketing strategies, and a customer survey to gauge perceptions and preferences regarding the company's properties and brand image. The findings from both approaches reveal several key concerns, including customer apprehensions about property purchasing decisions and the company's shortcomings in its marketing approach. The research identifies the lack of customer-centric marketing strategies as a critical factor contributing to the decline in sales. Based on customer feedback, the study proposes several interventions aimed at improving marketing effectiveness. These include enhancing property features to align with customer expectations, refining marketing strategies to focus on customer preferences, and leveraging digital marketing tools to increase brand visibility and engagement. By implementing these targeted marketing strategies, Al Saad Real Estate Development Company can potentially reverse the sales decline and better meet the evolving demands of the Saudi real estate market. This study provides a valuable framework for real estate companies in Saudi Arabia seeking to enhance their marketing efforts and improve property sales in a competitive and rapidly changing market.
Description
The real estate sector is one of the important sectors that contributes significantly to the global economy. It includes the creation, purchase, administration, and sale of real estate, including residential, commercial, and industrial assets. Due to factors including urbanisation, economic growth, and population increase, the real estate sector has experienced significant growth and expansion in recent years.
The value of the global real estate market in 2021 was estimated to be around USD 3.4 trillion [1] by market research publications. But projections indicate that this amount will rise sharply in the upcoming years, with a compound annual growth rate (CAGR) of about 6% from 2022 to 2030. This expansion may be ascribed to a number of causes, such as rising infrastructure investment, the rise in the rise of smart cities, and growing demand for sustainable and eco-friendly properties.
Different nations and areas display distinctive traits and dynamics within the global real estate environment. One of the most developed economies in the Middle East, Saudi Arabia, has seen significant improvements and changes in the real estate market. The immense size of projects in the Saudi Arabian real estate industry, such as mega-developments, apartment complexes, and commercial centres, are well-known.
Keywords
real estate market