Investment Drives Growth Across Saudi Real Estate Sectors

Saudi Arabia’s housing market is expected to grow a lot in the next few years. This growth is being driven by the country’s strong economy, a growing population, and more people wanting to buy homes, especially in big cities like Riyadh, Jeddah, and Dammam. This information comes from CBRE Middle East, a global real estate company.

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As more people look to buy houses, property prices and rents are going up. This trend is expected to continue. CBRE also said that the value of new home loans in Saudi Arabia will increase by 17% in 2024. Property prices in Riyadh have already gone up by over 6% in the past year.

As more new, high-quality homes are built, property prices are expected to keep going up in 2025. In Riyadh, the price of villas has been steadily rising, with prices now reaching about SAR 6,000 per square meter. In Jeddah, apartments are a bit cheaper, with prices around SAR 4,000 per square meter, but villas are more expensive at about SAR 5,700 per square meter.

Looking at office buildings, there is also a strong demand for space in Riyadh. However, there is not enough space available for immediate leasing. The high demand for office buildings in prime areas of the city shows that the Saudi economy, which is growing outside the oil industry, is doing well. This is part of the country’s Vision 2030 plan to grow the economy.

In the last year, office buildings in Riyadh have had nearly full occupancy, and rental prices for office spaces have also been going up. With more people needing homes and office spaces, the real estate market in Saudi Arabia is set to keep growing strong in the future.