UAE’s leading developer Manazel Real Estate plans to expand its business into the wider MENA markets, Trade Arabia reports.

The company mulls to enter Saudi Arabia through targeted developments before end of the year, given what they perceive as “significant demand for the middle-income housing segment.”

“Ongoing real estate investment, introduction of REITS, tax reforms, public private sector partnerships as well as the development of Saudi’s leisure and tourism sector all create potential longer term opportunities for Manazel Real Estate in Saudi Arabia,” according to a company statement.

“We are looking at a range of opportunities to expand into dynamic growth markets and broaden our revenue base especially within the Kingdom’s market, which has always been significant to us,” Manazel’s Chairman Mohamed Al Qubaisi is quoted in the statement as saying.