The real estate sector in Medina achieved growth in the number of real estate deals concluded during the year (2024 AD), an increase of (16%) from the previous year (2023 AD), supported by promising investment activities.

A report issued by the Medina Chamber indicated that the activity of the real estate sector includes the development, management and operation of tourist properties, and the business of land and real estate brokers, which entails many promising investment activities. A report issued by the Medina Chamber indicated that the activity of the real estate sector includes the development, management and operation of tourist properties, and the work of intermediaries in land and real estate, which resulted in many promising investment activities in light of the trend to enhance the absorption capacity of the tourist accommodation sector in Medina, enhance the rate of home ownership of citizens such as investment in hotel and tourism properties, and receive more visitors, pilgrims and Umrah pilgrims.

The report indicated that the activity of the real estate sector includes the development, management and operation of tourist properties, and the work of intermediaries in land and real estate, which resulted in many promising investment activities. The report indicated that the areas of investment in the real estate sector in Medina focused on rehabilitating old properties located around the Prophet's Mosque, building new hotels and residential towers, developing economic and affordable housing projects to support the growing demand, investing in the establishment of modern shopping centers and malls that meet the needs of the growing commercial market, and investing in developing modern business centers and office complexes for companies and entrepreneurs.

<The report reviewed the volume of real estate transactions issued by the real estate indicators of the Ministry of Justice, and showed the growth of the number of real estate transactions in Medina during the fourth quarter of 2024, recording (2586) real estate transactions in the residential, commercial and agricultural sectors, with an area of (2.132,105 square meters in total, with a total value of (2,050,429,403) riyals, compared to (1,689) real estate deals, with a total area of (3,021,642) square meters, worth (1,841,077,498) riyals during the same period of 2023.

The number of real estate deals in Medina grew during the fourth quarter of 2024, recording (2,586) real estate deals in the residential, commercial and agricultural sectors, with a total area of (2,021,642) square meters. <The residential sector witnessed a growth in the number of real estate transactions executed during the last quarter of 2024, recording (2,331) transactions, valued at (1,612,393,429) riyals, with a total area of (1,310,834) square meters.834) square meters, with an average price of (1230) riyals per meter, with a growth rate of (71%) compared to the same period in 2023, during which (1358) real estate deals were concluded, worth (1,056,435,935) riyals, with a total area of (800,397) square meters, with an average price of (1320) riyals per meter, a decrease of (6.8%) in the price per meter.

He added that the commercial sector recorded (2331) real estate deals, worth (1,612,393,429) riyals, with a total area of (1,310,000) square meters, with an average of (6.81 TP3T). <According to the report, the commercial sector witnessed a decrease in the number of real estate deals for the sector during the last quarter of last year, during which (237) deals were concluded, with a value of more than (382,442,850) riyals, with a total area of (181.008) square meters, with an average price of (2113) riyals per meter, a decrease of (24%) in the price per meter compared to the same period of 2023, during which (294) real estate deals were recorded, with a total value of (755,356,297) riyals, with a total area of (271,281) square meters, at a price of (2784) riyals per meter.

The report showed a decrease in the number of real estate transactions in the sector during the last quarter of last year. <The report showed a decrease in the number of real estate transactions in agricultural lands during the last quarter of 2024, by (18) transactions, with a total value of more than (55,593.124) riyals, with a total area of (640263) square meters, at an average price of (87) riyals per meter, compared to (37) deals in agricultural sector real estate during the same period of 2023, worth (29,285,266) riyals, with an area of (1,949,964) square meters, at an average price of (15) riyals per meter.

The report showed a decrease in the number of real estate deals in agricultural lands during the last quarter of 2024, by (18) deals, with a total value of over (55,593) riyals per meter.