With the expansion and continued growth of the real estate sector in Saudi Arabia, Saudi Real Estate Exchange has become a leading model for stimulating real estate activity and promoting transparency and innovation in the market. Since its official launch in 2023, the digital platform has proven its ability to improve the customer experience in the real estate sector, setting records in the number of transactions and trading values, reflecting its vital role in supporting the national economy.

Saudi Real Estate Exchange has become a leading model for stimulating real estate activity and promoting transparency and innovation in the market.

Record growth and exceptional performance

<According to Saudi Ministry of Justice data released in early December 2024, the number of registered users on the real estate exchange exceeded one million users, with more than 30,000 people benefiting daily from its various services. The platform recorded about 20,000 real estate transactions per day, while the average daily trading value exceeded the SAR 1 billion mark, which represents a qualitative leap compared to the pilot launch period that began in 2021.

Figures reflecting escalating success

<Since the launch of the pilot phase of the Real Estate Exchange, it has witnessed more than 250,000 diverse transactions, including real estate clearances, property sorting and merging, mortgage services and real estate financing. Buying and selling operations amounted to 130,000 operations, while sorting and merging operations recorded 100,000 operations, in addition to 20,000 operations related to financing and mortgage.

Supporting Vision 2030 and promoting transparency

<The Ministry of Justice indicated that the official launch of the real estate exchange in August 2023 contributed significantly to accelerating real estate operations and improving data quality, in addition to promoting the freedom of supply and demand and combating monopoly, in order to achieve justice and equal opportunities. Minister of Justice Walid Al-Samaani stressed that the digitization of more than 180 million real estate documents comes within the efforts to support the vision of Crown Prince Mohammed bin Salman, reflecting the Kingdom's commitment to achieving digital transformation in various sectors.

Significant statistics for 2024

According to real estate exchange data, the value of real estate transactions during the current year exceeded 399.7 billion riyals through more than 345.9 thousand transactions. The total area traded reached 1.52 billion square meters, with the highest price per meter recorded at 4.56 million riyals, while the average price per meter reached 263 riyals, reflecting the growing demand for residential and investment properties.

The most active neighborhoods

The Narges neighborhood in Riyadh topped the list of the most traded neighborhoods with a transaction value of 12.16 billion riyals through 4,463 transactions, with an area of 1.75 million square meters and an average price per meter of 6,961 riyals. It was followed by Al-Nazim neighborhood with a transaction value of SAR 10.61 billion and an area of 16.29 million square meters. As for the Rimal neighborhood, it recorded SAR 30.65 billion as the highest total value of transactions with an area of more than 80 million square meters.

The real estate sector: A key driver of the economy

Minister of Municipalities and Housing Majid Al Haqeel confirmed that the real estate sector contributes 11% to GDP, with this percentage expected to rise to 10% by 2030 according to Standard & Poor's. The first half of 2024 saw 27,500 new housing units added to the cities of Riyadh and Jeddah, reflecting the great momentum in the real estate market at all levels. <The Saudi Real Estate Exchange is one of the most important tools to enhance transparency and stimulate investments in the real estate sector, which contributes to achieving the aspirations of Vision 2030 to diversify the national economy and support sustainable development. As it continues to grow, the exchange remains a key platform for real estate wealth management and the development of the real estate market in the Kingdom.