Specialized economic reports predicted a decline in real estate prices, with the contraction of the economy, as evidenced by the sharp decline in REITs during last April and early May, and Jadwa Investment Company indicated in its report that real estate prices rose in the first quarter of 2020, by 1.2%, year-on-year, and by 0.4% on a quarterly basis, adding residential property prices rose by 2.1%, while commercial property prices fell by 0.5%, year-on-year.

Real estate prices rose by 2.1%, while commercial property prices fell by 0.5%, year-on-year. On the other hand, Jadwa revised its forecast for the Kingdom's economy, expecting the Kingdom's GDP to contract by 1.7% in 2020, noting that the amendments reflect the ongoing developments in both the oil markets and the local economy with both oil GDP 0.4% and non-oil GDP -2.6% declining during the year.

On the other hand, Jadwa revised its forecast for the Kingdom's economy, expecting the Kingdom's GDP to contract by 1.7% in 2020. <“Jadwa” expected the growth of the non-oil private sector to contract for the first time in 33 years by 3.9%, indicating that non-oil private sector activity declined in the first quarter of 2020, expecting non-oil private sector growth in the second quarter to decline significantly, due to the slowdown in economic activity as a result of precautionary measures to combat the Coronavirus. Jadwa expected cement production and sales to decline in the second quarter of this year, despite its rise in March, noting that the TASI index rose by 9.3%, month-on-month, in April. However, most of these gains were eroded on the first trading day of May, as investor confidence turned negative due to expectations of government spending cuts and a major economic downturn. In fact, most global and regional indices saw significant rises in April, as a number of countries begin to make plans to revitalize their economies in the next month or so.