Faisal Durrani, head of Middle East research at Knight Frank, said that the occupancy rate of luxury offices in Riyadh has reached 98%, which is among the highest in the world.

Faisal Durrani, head of Middle East research at Knight Frank, said in an interview with Bloomberg TV.

In an interview with Al Sharq Bloomberg, he added that the decision to grant privileged residency to owners of real estate worth at least 4 million riyals. It was one of the biggest changes that took place at the beginning of this year in the Kingdom and had a positive and significant impact on the real estate market.

Durani continued. <“We see a huge demand from wealthy people in the world who are looking to own real estate assets in cities like Makkah and Madinah,” Durrani continued. <He pointed out that there is a growing population in Riyadh, due to global companies moving their regional headquarters there, putting pressure on schools, hospitals and other facilities.