Residential, commercial and hospitality real estate leads the growth of the Saudi market
Organizational initiatives to motivate housing and control prices
The Real Estate Authority seeks to address price challenges, by studying the status of maximum rents and developing the white land fee system.
The Royal Commission for the city of Riyadh is also working to offer up to 40,000 residential plots annually at reasonable prices to enhance housing supply.
Saudi Arabia is at the forefront of attracting foreign direct investment
Despite the global challenges, Saudi Arabia has strengthened its position in the Kirney Index for the confidence of foreign direct investment, achieving the 13th place globally, with the growth of net foreign investment flows by 37% in the third quarter of 2024 to reach 16 billion riyals.
Office market is witnessing a leap in rents
With the support of Vision 2030 and economic diversification, the rents of the category A and B offices increased by 17% and 25%, respectively. While Jeddah, in turn, witnessed a growth in first -class office rents as a result of its proximity to major industrial centers, despite the continued limited supply in the short term.
The height of real estate loans and turned into the pattern of housing demand
The real estate financing market witnessed a remarkable growth, as new housing loans increased by 28.3% to 8.91 billion riyals, and it is noted that a gradual transformation of independent homes towards apartments, while prices continue to rise, especially in Riyadh, which recorded the highest annual growth by 10.7% in residential real estate prices.
Retail sales grow 8% at the beginning of 2025
The total retail sales during the first two months of 2025 amounted to about 116 billion riyals, supported by population growth, increased tourism and consumer change, especially in the food and beverage sector, which recorded an annual growth by 4%.
30 million international visitors and 12.45% tourism contribution to local product
And the report issued by “CBRE” that Saudi Arabia received 30 million international visitors in 2024, an increase of 9.5%, and the contribution of the tourism sector reached 498 billion riyals, or 12.45% of GDP, and the Kingdom is preparing to receive huge events such as Expo 2030 and the 2034 World Cup, which supports the expansion of hotel rooms to reach 426,000 rooms.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
