Amid calls for King Salman to be deposed, Saudi Arabia’s property market is weakening
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All is not well in Saudi Arabia. World crude oil prices have fallen around 45% during the year to October 2015 to US$46.40 per barrel. The kingdom is involved in an expensive war in Yemen, has become alarmed by ISIS (an outcome of its own funding of extremist Sunni groups), has tightened internal repression of Shia and dissidents to unacceptable levels, and is being criticized for its mismanagement of Mecca.
Add to this, bitter internal feuding has broken out within the royal family since King Salman, now 79, ascended the throne after the death of former King Abdullah on January 23 2015. A senior member of the royal family has called for King Salman to be deposed.
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