News dalla rete ITA

28 Maggio 2023

Arabia Saudita

OFFICE SECTOR IS STAR OF SAUDI PROPERTY MARKET

There has been a surge in demand for office space in the kingdom's commercial hub of Riyadh. The office sector remains the star of Saudi Arabia’s real estate market. A significant surge in demand is observed in the office sector, particularly in the commercial hub of Riyadh, with occupancy levels for Grade A office spaces reaching a record 97 per cent.   The office sector in Saudi Arabia is witnessing consistent strengthening across the three primary cities – Riyadh, Jeddah and the Dammam Metropolitan Area (DMA). In Riyadh, the occupancy level of 97 per cent for Grade A and 85 per cent for Grade B office spaces indicate a thriving office sector. With businesses from all over the world flocking to the kingdom – the number of business licences issued rose by 54 per cent in 2022 – prime rents have experienced an increase of 19 per cent in Riyadh and around nine per cent in Jeddah over the last year. (ICE RIYADH)


Fonte notizia: MEED