The Saudi Arabian real estate market is experiencing a surge in activity, according to the latest report from CBRE Middle East. While demand across various sectors is robust, a shortage of quality stock is hindering the market’s full potential.       Riyadh’s office market is particularly buoyant, with rental rates increasing significantly across all segments. Prime and Grade A office spaces are now fully occupied, while Grade B occupancy remains high at 99.4%. Jeddah and the Eastern Province cities of Dammam and Khobar also recorded rental growth and increased occupancy rates.   The Saudi residential sector is thriving, with sales transactions soaring in Riyadh, Jeddah, and Dammam. Riyadh saw the most substantial increase in sales, up 51.6%…

ROSHN Group announced the release of 1,251 new homes for sale in SEDRA Phase 4, part of its flagship Riyadh development and the city’s most desirable community.     The fourth phase of SEDRA community, situated north of the third phase, boasts a strategic location offering residents convenient access to shopping and office areas in the ROSHN Front.   It is also easily reachable via the Airport Road and is close to two metro stations. Moreover, it is near Princess Nourah University, Imam Muhammad bin Saud Islamic University, King Khalid International Airport, and the SAR train station.   The residences come in various sizes and designs, offering 10 floorplans and two facades in three color variations to choose from. Approximately 30% of the area is…

Riyadh: The Real Estate Price Index (RPI) showed a 1.7% increase in the second quarter of 2024 compared to the same quarter of last year. This rise is mainly due to a 2.8% increase in residential prices, according to a General Authority for Statistics (GASTAT) report released today.The report revealed that residential land plot prices have increased by 2.8% year-on-year, primarily driven by the residential sector, significantly impacting the overall increase in real estate prices. Specifically, prices for apartments rose by 2.9%, while residential building prices decreased by 0.1%, villa prices by 0.5%, and house prices by 1.4%.The report also showed that the commercial sector experienced a 0.4% decrease in real estate prices due to declines in the prices of commercial land plots by 0.4%…

DOHA: The volume of real estate trading in sales contracts at the Department of Real Estate Registration at the Ministry of Justice from July 21 to 25, reached QR234,841,770, while the total sales contracts for residential units in the Real Estate Bulletin during the same period reached QR12,390,000. The weekly bulletin issued by the Department shows that the list of real estate properties traded for sale included vacant lands, houses, residential buildings, a residential-commercial building, shops, and residential units. Sales were concentrated in the municipalities of Doha, Al Wakrah, Al Rayyan, Al Shamal, Al Daayen, Al Khor and Al Dakhira, Umm Salal, and the areas of The Pearl Island, Al Kharaej, Umm Abeeriya, Leqtaifiya, and Lusail 69. The volume of real estate trading in sales…

GCC investors are expected to spend more than $4 billion annually on UK commercial property as interest rates fall, creating improved affordability and outlook.       The Bank of London and The Middle East (BLME) said purpose-built student accommodation buildings are a popular asset due to a growing number of students from the Gulf region at British universities.   The bank said the UK market is heading for a “once-in-a-decade economic alignment” as new opportunities emerge for GCC investors as a result of cuts in interest rates, a new government, and falling inflation and lower property prices in some segments.     The Bank of England (BoE) announced on Thursday that it was cutting its base rate from 5.25% to 5%, the first cut since…

The General Authority for Statistics (GASTAT) disclosed on Thursday that the real estate price index has shown a 1.7% increase in the second quarter of 2024 compared to the same quarter of the previous year. This rise is attributed to a 2.8% increase in residential real estate prices.       The report indicated that residential land prices rose by 2.8% on an annual basis, making the residential sector the largest contributor to the overall increase in real estate prices in Q2 2024 compared to Q2 2023.   The residential sector recorded a 2.8% increase in Q2 2024, while the prices of residential buildings increased by 0.1%, villas by 0.5%, houses by 1.4%, and apartments by 2.9%.       Conversely, the commercial real estate sector saw a decline of…

SALALAH: Dhofar Governorate is witnessing a significant increase in construction activities, driven by an urgent need to modernise infrastructure and accommodate a growing population. A key indicator of this urban boom is the remarkable rise in building permit applications. In 2023, the Building Permits Department of Dhofar Municipality reported a 22-per cent increase in applications compared to the previous year, bringing the total to 3,043. This surge underscores the accelerated pace of development and the heightened demand for new constructions in the governorate. To meet this rising demand, the Building Permits Department has been actively enhancing its services and modernising its systems. These improvements aim to streamline the permit application process, making it more efficient…

The volume of real estate trading in sales contracts at the Department of Real Estate Registration at the Ministry of Justice from July 14 to 18, reached QR236,365,454, while the total sales contracts for residential units in the Real Estate Bulletin during the same period reached QR20,030,865.       The weekly bulletin issued by the Department shows that the list of real estate properties traded for sale included vacant lands, houses, residential buildings, a residential-commercial building, shops, and residential units.   Sales were concentrated in the municipalities of Al Rayyan, Doha, Al Wakrah, Al Daayen, Al Khor and Al Dakhira, Umm Salal, and the areas of Lusail 69 and Rawdat Egdaim.      The volume of real estate trading in sales…

Riyadh -- The King Abdullah Financial District (KAFD) has earned the SmartScore certification for urban neighbourhoods by WiredScore, the world's leading authority in the field of smart building technologies, thanks to its advanced digital infrastructure that provides robust connectivity, sustainability and seamlessness at the levels of living, work and leisure.By winning this certificate, KAFD becomes the first in MENA to obtain WiredScore's SmartScore certification for urban neighbourhoods.This recognition comes after KAFD underwent a rigorous evaluation and certification process that began in September 2023, after which Wired Score announced at Cityscape Global in Riyadh that KAFD had met the pre-accreditation criteria for obtaining the Smart Score certification for urban…

Doha, Qatar: Qatar’s real estate sector offers several opportunities for residents and investors alike. The country’s realty market has continued to witness growth during the second quarter (Q2) of this year as it witnessed deals worth QR3.191bn for 808 real estate transactions in Q2 of 2024, according to Ministry of Justice data.   The country’s market is poised to benefit in the long-term, driven by several infrastructure projects and developments, expansion of the industry across the country, and investment-friendly initiatives implemented by the government in addition to an appetite for safe investment. In the first quarter of last year the real estate index achieved total value of QR4.375bn for 795 real estate transactions. The real estate transactions…

Hassana Investment Company (Hassana) signed a Memorandum of Understanding (MoU) with Dar wa Emaar Real Estate Investment & Development Company (DWE) to develop a 1.2 million square meter real estate project in the Al Qadissiyah district of North Riyadh.   This collaboration, a strategic partnership built on mutual strengths, will focus on master planning, infrastructure development, public amenities, and potentially developing anchor real estate assets.   The development will accommodate up to 4,000 modern residential units and provide a total retail built-up area of approximately 100,000 square meters.   The residential-focused master plan development will offer quality residential, educational, entertainment, and retail spaces to meet the growing needs of modern…

Talat Moustafa Group Saudi Arabia has begun construction on “Banan City,” a large-scale smart city project located northeast of Riyadh. The announcement comes just two months after the company launched a significant advertising campaign promoting the development.       Construction activity is already underway on the 10-million-square-meter site, with hundreds of heavy machinery units deployed to meet project deadlines. TMG emphasizes its commitment to delivering units to future residents on schedule and ensuring the provision of essential services within the city.   The major advertising campaign for Banan City launched in May 2024 and featured prominent media personality Waleed Al-Faraj and Egyptian actor Karim Abdel…