The Heritage Premium in Jeddah: One Buyer Only, or the Beginning of a New Market?
In the construction and real estate sectors, scarcity does not create value by itself. A market has to learn to pay for the scarce thing first. Until it does, being unable to make more of something is simply a restriction on what an owner can do with it. Saudi Arabia holds a stock of historic buildings that cannot be added to. No amount of money or skill produces another coral-stone merchant house in Jeddah. | 
