The Saudi real estate market witnessed a decline in the sale prices of apartments and villas by 6% and 5%, respectively, compared to the previous quarter, the percentage of decline decreases to 1% for both categories, while at the same time, the rental prices of apartments and villas decreased by 1% compared to the previous year, and little change when compared to the previous quarter. This came according to JLL's report, which confirmed a slight decline in the performance of the residential market in Riyadh. ( Real Estate Sale )<\/p>\n
The report expects that in the next phase, and in light of the expected increase in supply over the next twelve months, downward pressure on rental rates and sales prices will continue, but as the Ministry of Housing seeks to improve the living conditions of current and future generations, increase the supply of affordable housing units in record time and enhance access to subsidized and appropriate financing, these initiatives are expected to boost the demand for housing units in the long term, which will reflect positively on the housing market.<\/p>\n
The third quarter of 2019 saw a slowdown in the number of completed residential units, as 177 standalone units were delivered in Riyadh, and the projects that were delivered included the Canary Al Khozama project in Al Khozama neighborhood, the fifth and sixth phases of the Al Durraq project in the diplomatic district, and a villa project within the Mushrif Hills complex in northern Riyadh, bringing the total supply of residential units in the third quarter to about 1.3 million units.<\/p>\n
A total of 2,400 new residential units are expected to enter the Riyadh market by the fourth quarter of the year. Potential projects include the Al Raida residential complex, Al Bayt 53 in the Hittin neighborhood, and Al Bani 8144 mixed-use project in the Sulaymaniyah neighborhood.<\/p>\n
The housing projects announced by the Ministry of Housing have achieved good booking rates, including the Saraya Al Narjis project in the north of Riyadh and the Suhail Riyadh project in the south. Small to medium-sized housing units take the largest share of these projects, which target low- and middle-income families.<\/p>\n
The performance of the office space sector in Riyadh remained relatively stable, with rents for Class A office space characterized by high-quality finishes, accessibility and abundant amenities holding steady at SAR 1,500 per square meter, while average rents in Class B office space declined by 1 % to SAR 1,011 per square meter per year.<\/p>\n
At the same time, vacancy rates fell 200 bps to 6%, year-on-year due to strong government demand, especially from newly established state-owned enterprises as part of Vision 2030. Looking ahead, following the increase and quality of supply, we expect wage rates in high-quality buildings to stabilize and reach the bottom of the real estate cycle. In contrast, rents in class A buildings are expected to see further pressure, as tenants are expected to move to newer buildings with better amenities.<\/p>\n
Cooperation between Riyadh Chamber and the UAE in spreading the culture of endowments<\/a><\/p>\n Editor-in-Chief Abdulaziz Al-Issa writes : How do you develop your real estate?<\/a><\/p>\n Prince of Aseer praises the efforts and cooperation of \u201cHousing\u201d in the \u201cResidential Exhibition\u201d in Abha 16 financing entities and real estate consultant at the exhibition<\/a><\/p>\n With the participation of 800 businessmen and women and financing entities, Sharqiya Business Youth Exhibition offers 300 investment initiatives<\/a><\/p>\n MoU between Al Ahli Bank and \u201dSocial Development\u201d to implement savings programs<\/a><\/p>\n Nayef Al Rajhi Investment Company announces a new real estate development project in London<\/a><\/p>\n Inaugurated yesterday by the Emir of Riyadh Aspar Forum\u00a0 <\/span>Dedicated to technology for a vibrant society, a thriving economy and an ambitious nation<\/a><\/p>\n Ministry of Justice carries out more than 32,000 electronic verifications of real estate deeds in 9 months<\/a><\/p>\n Housing: Extending the deadline for payment of fees and white land development leads to increased supply through incentives<\/a><\/p>\n Record-breaking Riyadh Season attracts more than 5 million visitors since its launch<\/a><\/p>\n Numerous achievements in housing projects under construction in Jeddah The Ministry handed over a number of housing units<\/a><\/p>\n Saudi Real Estate Company starts developing the facilities of Al Widyan project northwest of Riyadh<\/a><\/p>\n Ministry of Justice authorizes GCC nationals to dispose of land they own<\/a><\/p>\n Real estate prices fell by 2.7% in the third quarter<\/a><\/p>\n CMA approves Aramco's initial public offering<\/a><\/p>\n \u00abCapital Market Authority Approves the IPO of a portion of Aramco's shares\u00bb<\/a>\u00a0 <\/span><\/p>\n British firm designs Red Sea Project airport to accommodate 900 passengers per hour<\/a><\/p>\n The Real Estate Fund Call Center completes 63% of the total mortgage contracts for residential products<\/a><\/p>\n Taqeem implements the first training courses for the real estate appraisers qualification program in Makkah<\/a><\/p>\n Public Authority for State Properties organizes a workshop to develop a mechanism to provide government headquarters<\/a><\/p>\n Reading time: <\/span> 3<\/span> Minutes<\/span><\/span>\u0634\u0647\u062f \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u0639\u0642\u0627\u0631\u064a \u0627\u0644\u0633\u0639\u0648\u062f\u064a \u0627\u0646\u062e\u0641\u0627\u0636\u0627\u064b \u0641\u064a \u0623\u0633\u0639\u0627\u0631 \u0628\u064a\u0639 \u0627\u0644\u0634\u0642\u0642 \u0648\u0627\u0644\u0641\u0644\u0644 \u0628\u0646\u0633\u0628\u0629 6% \u0648 5% \u0639\u0644\u0649 \u0627\u0644\u062a\u0631\u062a\u064a\u0628\u060c \u0645\u0642\u0627\u0631\u0646\u0629 \u0628\u0627\u0644\u0631\u0628\u0639 \u0627\u0644\u0633\u0627\u0628\u0642\u060c \u062a\u0646\u062e\u0641\u0636 \u0646\u0633\u0628\u0629 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more<\/a><\/p>","protected":false},"author":10,"featured_media":25607,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"0","_seopress_titles_title":"\u0628\u064a\u0639 \u0639\u0642\u0627\u0631\u0627\u062a .. \u0627\u0646\u062e\u0641\u0627\u0636 \u0623\u0633\u0639\u0627\u0631 \u0628\u064a\u0639 \u0627\u0644\u0634\u0642\u0642 \u0648\u0627\u0644\u0641\u0644\u0644 \u0628\u0627\u0644\u0631\u064a\u0627\u0636 \u0648\u0645\u0634\u0627\u0631\u064a\u0639 \u0627\u0644\u0625\u0633\u0643\u0627\u0646 \u062a\u0632\u064a\u062f \u0645\u0639\u062f\u0644\u0627\u062a \u0627\u0644\u062d\u062c\u0632","_seopress_titles_desc":"\u0628\u064a\u0639 \u0639\u0642\u0627\u0631\u0627\u062a .. \u062a\u0642\u0631\u064a\u0631 \u0639\u0642\u0627\u0631\u064a .. \u0627\u0646\u062e\u0641\u0627\u0636 \u0623\u0633\u0639\u0627\u0631 \u0628\u064a\u0639 \u0627\u0644\u0634\u0642\u0642 \u0648\u0627\u0644\u0641\u0644\u0644 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of real estate<\/h3>\n
Sale of real estate<\/h3>","protected":false},"excerpt":{"rendered":"