{"id":60430,"date":"2023-11-01T14:39:07","date_gmt":"2023-11-01T11:39:07","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=60430"},"modified":"2023-11-01T14:39:07","modified_gmt":"2023-11-01T11:39:07","slug":"36-%d9%85%d9%84%d9%8a%d8%a7%d8%b1-%d8%b1%d9%8a%d8%a7%d9%84-%d8%ad%d8%ac%d9%85-%d8%a7%d9%84%d9%82%d8%b7%d8%a7%d8%b9-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d9%8a-%d8%a8%d8%a7%d9%84%d9%85%d9%86%d8%b7%d9%82","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/60430\/","title":{"rendered":"36 billion riyals the size of the real estate sector in the Eastern Province until the end of the third quarter of 2023"},"content":{"rendered":"<p>The CEO confirmed <strong><a href=\"https:\/\/rega.gov.sa\/News\/NewsDetails?id=1357&amp;LangId=41d9365c-0847-487d-9e0a-d098a872da0f\">Public Authority for Real Estate<\/a> <\/strong>Engineer Abdullah bin Saud Al-Hammad stated that the unlimited support provided by the wise leadership to the real estate sector has contributed to improving the market\u2019s efficiency, regulation, and governance, through real estate legislation, thereby strengthening the sector\u2019s effectiveness and enabling it to contribute to gross domestic product (GDP). According to statistics for the second quarter of this year, the contribution of real estate activities to GDP reached 6.1 %, and the contribution of real estate activities to non-oil activities stood at 12.7%.<\/p>\n<h3>Growth in Real Estate Indices in Sharqia<\/h3>\n<p>Al-Hammad explained during his participation in <strong><a href=\"https:\/\/amlak.net.sa\/en\/60408\/\">Restatex Sharqiya Real Estate Exhibition<\/a><\/strong> In 2023, the Eastern Province saw growth in its real estate indicators, with the volume of real estate transactions in the region from the beginning of this year through the end of the third quarter reaching approximately 36 billion riyals, Real estate transactions totaled nearly 28,000, representing an increase of more than 5% compared to the same period last year; of these, 45% were commercial properties and 39% were residential properties, Meanwhile, real estate brokerage activity saw the licensing of more than 3,785 real estate brokers\u2014including firms and individuals\u2014in the Eastern Province. He added that the number of projects licensed under the off-plan sales and leasing system (Wafi) has exceeded 120 projects to date, with a total of 32,000 real estate units, in the region\u2019s rental sector.<\/p>\n<h3>1.2 million lease agreements in the region<\/h3>\n<p>The president explained <strong><a href=\"https:\/\/amlak.net.sa\/en\/?s=%D8%A7%D9%84%D9%87%D9%8A%D8%A6%D8%A9+%D8%A7%D9%84%D8%B9%D8%A7%D9%85%D8%A9+%D9%84%D9%84%D8%B9%D9%82%D8%A7%D8%B1\">Public Authority for Real Estate<\/a><\/strong> The number of notarized lease agreements in the Eastern Province has exceeded 1.2 million, representing 16% of all notarized lease agreements in the Kingdom\u2019s cities, while more than 1,200 real estate entities have been accredited by the Landlords\u2019 Union associations. Regarding foreclosed properties, the Eastern Province ranked among the top three cities in the Kingdom with approximately 40,000 foreclosed units, This growth in real estate activity in the Eastern Province was attributed to its appeal for real estate investment and its tourism, commercial, and residential potential.<\/p>","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">Minute<\/span><\/span>The CEO of the General Real Estate Authority, Engineer Abdullah bin Saud Al-Hammad, affirmed that the unwavering support provided by the wise leadership to the real estate sector has contributed to improving market efficiency, regulation, and governance, through real estate legislation, thereby enhancing the sector\u2019s effectiveness and enabling it to contribute to the gross domestic product (GDP), with real estate activities accounting for \u2026 <a title=\"36 billion riyals the size of the real estate sector in the Eastern Province until the end of the third quarter of 2023\" class=\"read-more\" href=\"https:\/\/amlak.net.sa\/en\/60430\/\" aria-label=\"Read more about the real estate sector in the Eastern Province, which reached 36 billion riyals by the end of the third quarter of 2023\">Read more<\/a><\/p>","protected":false},"author":27,"featured_media":59201,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"footnotes":""},"categories":[7787],"tags":[],"class_list":["post-60430","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-easternprovince"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak 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