Foundation Day... A Qualitative and Unique Leap Forward

Hisham Al-Aifan

There is no doubt that the unification of the Arabian Peninsula by the First Saudi State in 1139 AH (the beginning of the reign of Imam Muhammad bin Saud, may God have mercy on him) marked a qualitative and significant turning point in the history of the Arabian Peninsula, and this was reflected in social and economic life; the real estate market in the Kingdom boomed, as evidenced in Dir’iyya, the capital of the state at the time, where the prices of some houses reached 600 riyals, while the prices of some palaces reached 3,000 riyals, and a palm tree trunk was priced at 60 riyals (as a building material), as mentioned in *Al-Durar al-Sunniyah*.

Today, on the anniversary of Foundation Day the return of this growth and prosperity to the city of Riyadh,  the capital of the future and the next global city, where growth has driven real estate prices in Riyadh to levels similar to those in Dir’iya at that time, as a result of the stability and strength the Kingdom has achieved, as well as its growing credibility and global appeal.

@hesham_aleifan