{"id":60824,"date":"2023-11-18T20:23:41","date_gmt":"2023-11-18T17:23:41","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=60824"},"modified":"2023-11-18T20:23:41","modified_gmt":"2023-11-18T17:23:41","slug":"%d8%a7%d9%84%d9%85%d8%b3%d8%a7%d8%ad%d8%a7%d8%aa-%d8%a7%d9%84%d9%85%d9%83%d8%aa%d8%a8%d9%8a%d8%a9","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/60824\/","title":{"rendered":"Real Estate Articles Amlak Articles The reality and future of office space"},"content":{"rendered":"

Real Estate Articles Real Estate Articles. <\/span>The reality and future of office space<\/span><\/h4>\n
Abdulrahman bin Ali Al-Qut<\/h5>\n

The number of companies that have received licenses for their regional headquarters in Saudi Arabia has reached 180 so far, compared to the target of 160, Saudi Investment Minister Khalid Al-Falih said.<\/p>\n

The number of companies receiving licenses for their regional headquarters is 10 per week, Al-Falih told Bloomberg.<\/p>\n

When looking at this amount of commercial companies and how to serve them and enhance their presence in our country, we must first think about their headquarters and offices that suit their needs... So how is the market for office space in the Kingdom, especially in Riyadh?<\/p>\n

According to JLL's report on the real estate market in Saudi Arabia, the Kingdom's office space sector recovered during the third quarter of this year, with 130,500 m2 of office space completed in Riyadh, bringing the city's total to 5.1 million m2. Approximately 110,000 square meters of office space is scheduled to be delivered in Riyadh in the final months of this year.<\/p>\n

However, I believe that the office space market is still very hungry for this type of real estate products, and when we reviewed the website of the Off-Map Sale and Leasing Committee - Wafi - as the official body that grants this privilege - off-plan sales - I found only three licenses for office real estate projects! All of them in Jeddah! Also, when we go to the King Abdullah Financial Center (KAFD), we find that the occupancy rates are very high, as the office spaces in KAFD extend over more than 900,000 square meters.<\/p>\n

This is proof that the opportunity is still possible for all real estate developers, especially if we know that this type of real estate activity is accompanied by the best rental yields, which range from 9 % to 12 %...<\/p>\n

In order to fulfill the desires and needs of companies coming to the market, there must be a variety of office space options that meet the needs of companies, including these office options:<\/p>\n