As the population booms, particularly in urban areas, the demand for residential, commercial, and industrial spaces grows. This expansion fuels both new construction and the development of existing properties. Thus, the Real Estate market is projected to grow at 4.8% CAGR by 2033.
Moreover, rental properties accounted for over 54.5% of the market share in 2024, reflecting the demand for flexible accommodation. Also, technological advancements are reshaping the real estate market. AI, IoT, and big data analytics improve efficiency, safety, and profitability by enhancing asset management and enabling predictive maintenance, which extends building lifespans and lowers operational costs.
