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Travel Directory / Middle East / Yemen / Real Estate & Property

Yemen Real Estate

Yemen is that vast space that lies south of Saudi Arabia and west of Oman. To its right is the Red Sea and in its southern coast lies the Gulf of Aden. It belongs to the Arabian Peninsula in the western part of Asia. Surrounded by large bodies of water and blessed with many land resources, the country of Yemen poses many investment opportunities both for foreign and local investors.

The economic stability of Yemen is one of the many reasons why many investors choose to put up business ventures in this relatively large country in the Middle East. As shown in its trade measures and policies, Yemen has one of the freest economies in the area. Following its goals to attract more investors, the government has come up with many policies made to open economy. Foremost of this is to liberalize the trade barriers, tariffs, and other measures in import controls. As such, trade in Yemen continues to prosper. The country's main imports run the list of live animals, food products, transport equipment, electrical machineries, manufactured goods, pharmaceuticals, apparel, textile, and construction supplies from the United States, the United Arab Emirates, Italy, France, and Saudi Arabia. As for the goods being exported to South Korea, China, Japan and Thailand; Yemen offers crude oil, petroleum, spices, cotton, tea, coffee, biscuits, fish and fish products, hides and skins, potatoes and various fruits.

In line with the flourishing economy of Yemen, an investment in the country should be directed at the main point of trade and business ventures in the local. These are comprised of manufacturing industry, oil refinery industry, agricultural sector, and the tourism sector.

In the case of oil refinery, much of the real estate properties in Yemen have been transformed into oil refinery sites. This is in line with the recent trade agreements between Saudi Arabia and Yemen. The said agreement allows the country to cater international companies that will exploit the oil and natural gas reserves in Saudi Arabia, particularly those in the Rub Al-Khali, the Marib, and theAl-Jawf region.

In the Agricultural sector, most of the real estate properties in the area are focused on the mountainous areas of the country. Such places have fertile soil and high levels of rainfall that caters crops such as barley, maize, sesame, tobacco, and coffee. Among the three main agricultural projects in Yemen are the Tihama Development Project, the Southern Upland Rural Development Project, and the Central Highlands Agricultural Project. These agricultural sites cater to almost a fifth of the country's laborers. However, it should be noted that the major agricultural activity in the country is focused on the propagation of a narcotic shrub known as the “qat”. A quarter of the country's irrigated land is given to the qat. Proportionally however, twenty-five percent of the country's GDP also come from qat production, processing, and distribution.

In the tourism sector, most of the foreign investment in the country is geared towards building a better hospitality industry for its guests. Among the main ventures in the tourism industry is the transformation of barren and/or undeveloped lands into resorts, hotels, restaurants, and other tourist attractions. One of the main focuses is the island of Soqotra, which abound in natural sceneries.

In the manufacturing industry, the bulk of the investments are centered on factories and other establishments which focus on food processing (particularly fish and other seafood), apparel, textile, leather goods, cosmetics, jewelry, fertilizers and cigarettes.

With these sectors continuously flourishing and with the continuous transformation of real estate properties into prime business ventures; economists foresee that Yemen will maintain its prowess of being to a good site for investment.