Engineer Mohammed Saleh Al-Khalil, Vice Chairman of the National Real Estate Committee at the Council of Saudi Chambers, emphasized the importance of the Ministry of Housing continuing to incentivize real estate developers in the Kingdom and strengthening this role through the authorized body, namely the Ministry of Housing, noting the difficulty of lowering prices; the housing sector in the Kingdom still needs more time. Al-Khalil said that there is notable engagement from the private sector in this area, as involving real estate developers is extremely important—a direction the Ministry is currently pursuing.
In the same context, a number of real estate professionals in the Jazan region called for the necessary measures to be taken to resolve the issue of rising real estate prices in the Kingdom in general and the Jazan region in particular, in order to address the significant increase in the cost of all types of rent (residential, commercial, family, and single-person).
In this regard, real estate agent Khalid Al-Shahri stated that the annual rent for residential apartments ranges between 30,000 and 35,000 riyals, while land prices vary depending on their location within the city of Jazan. Land in the northern part of the city ranges from 500,000 to 600,000 riyals for residential use, while the purchase cost of commercial land reaches one million riyals. In the southern part, residential plots are priced between 300,000 and 400,000 riyals, and commercial plots reach up to 700,000 riyals.
Al-Shahri described the prices as high compared to five years ago, when they ranged from 20,000 to 25,000 riyals annually for residential apartments.
Yahya Al-Asiri, owner of a real estate office, noted that prices for single-person residential units vary depending on their location within the city. with unfurnished units near Jazan University ranging from 1,900 to 2,000 riyals per month, and unfurnished units around 1,700 riyals, while in other neighborhoods not near the university, rents start at 1,400 and go up to 1,600 riyals per month.
