RIYADH: Saudi real estate saw a significant increase in the value of residential and commercial rent deals last year, with transactions almost doubling in value to reach SR76 billion ($20.2 billion).
According to the Real Estate General Authority Ejar, commercial rent transactions had a total value of SR40.9 billion, while residential properties had a value of SR35.1 billion.
Moreover, the residential sector experienced a considerable surge in apartment rent deals, which witnessed a 76 per cent year-on-year increase in 2022 to stand at SR29.6 billion.
Furthermore, villa deals rose by 49 per cent to reach SR2.9 billion, and floor deals saw a 51 per cent increase to reach SR3.1 billion.
Among the cities, Riyadh had the most rent deals, worth SR24.7 billion, followed by Jeddah with SR17 billion and Makkah with SR4.9 billion.
On the other hand, the cities with the lowest values were Najran with SR249 million, Arar with SR226 million, and Al Bahah with SR148 million.
For news and blogs, visit Graana.com
Rawalpindi: The divisional administration has begun acquiring land for the Rs5 billion Thalian Interchange, a…
Islamabad: The Federal Board of Revenue (FBR) is preparing to seek approval from the International…
Riyadh: As Saudi Arabia’s Vision 2030 enters its third phase for the period 2026–2030, the…
Islamabad: The Capital Development Authority (CDA) has earmarked PKR 200 million to settle outstanding land…
Lahore: Punjab Governor Sardar Saleem Haider Khan has promulgated two key ordinances aimed at modernising…
Islamabad: Pakistan’s tax authorities are intensifying efforts to detect undeclared wealth by monitoring social media…
Welcome to Graana Blog - Pakistan’s Smartest Property Portal!
For more than a decade our intention has been to revolutionise the real estate industry in Pakistan. The same belief drove the vision of our real estate team, Graana where quality beats quantity.
We have introduced an extremely transparent and purposeful portal where we will help you buy, rent or sell your property. A place where you can sit back relax and let us market your projects and listings. We believe we have set new standards for the future of real estate in Pakistan by providing the smartest property portal.
