Real estate experts expected that the decision to deliver electricity to residences whose owners do not hold deeds will contribute to an increase in real estate prices in these areas by between 20%-30%.
Abdullah Al-Ahmari, Chairman of the Real Estate Valuation Committee at the Jeddah Chamber, confirmed that the decision to connect electricity to residences without deeds will cause a rise in rents to 20% and then after the implementation of the decision will rise to 30%, pointing out that although the area of these areas does not exceed 5% of the area of Jeddah, the decision will contribute to the development and expansion of these areas. Al-Hamrai expected that the decision will lead to a decrease in rents in the houses in which there is electricity to the real and logical rental prices in those areas, especially since most of the residents of those areas have fled to them in search of housing at reasonable prices and away from the exaggerations in real estate in Jeddah.
While the head of the real estate community and the real estate committee at the Jeddah Chamber, Khaled Al-Ghamdi, believes that the decision will not affect real estate prices in these areas because of their limited area, which is between 5% to 8% of the area of Jeddah, but the decision will primarily benefit the Saudi owners of these houses because it will facilitate the process of moving to these areas that lack a lot of services.