The Real Estate Exchange remarkable performance during the week ending December 12, 2024, recording 8,131 transactions with a total value of 10.9 billion riyals and a traded area of 29.3 million square meters. This achievement reflects the significant growth in the Kingdom’s real estate sector and the increasing popularity of the digital platform launched by the Ministry of Justice.
Highest Prices and Transactions by Neighborhood
According to data from Real Estate Exchange, the highest price per square meter during the week reached 63,900 riyals, while the average price per square meter stood at 371 riyals.
Al-Wisam in Riyadh led the neighborhoods in terms of transaction value, with a total of 430 million riyals across 736 transactions, covering an area of 233,600 square meters, at an average price of 1,800 riyals per square meter.
In second place was the Sidra neighborhood in Riyadh, with a transaction value of 201.9 million riyals across 136 transactions, a traded area of 39.9 thousand square meters, and an average price of 5,000 riyals per square meter.
The Al-Ramal neighborhood in Riyadh ranked third with 181 million riyals across 98 transactions, a traded area of 49,800 square meters, and an average price of 3,600 riyals per square meter.
Al-Nazim District came in fourth with a value of 181.3 million riyals and an area of 100,000 square meters, at an average price of 1,800 riyals per square meter.
In last place was the Janadriyah neighborhood, with transactions totaling 109 million riyals across an area exceeding 49,000 square meters, at an average price of 2,200 riyals per square meter.
Real Estate Exchange Achievements: Services and Digital Expansion
Since its launch in August 2023, more than 2.1 million users have benefited from the Real Estate Exchange’s services, highlighting its role as a comprehensive digital platform offering a variety of services, including:
- Direct transactions.
- Real estate listings.
- Mortgages.
- Inquiries about real estate deeds.
- Updating real estate deeds.
Digital Transformation Boosts Real Estate Growth
The Real Estate Exchange continues to enhance transparency and streamline real estate transactions through its advanced digital services. These efforts are part of the Kingdom’s Vision 2030 to develop the real estate sector and stimulate investment in it, thereby contributing to sustainable economic growth.
