Rental contracts in Saudi Arabia hit record 59.57k in January

Rental contracts in Saudi Arabia hit record 59.57k in January

RIYADH: Saudi Arabia’s property sector is witnessing a boom as the number of documented lease contracts surged 15 percent year-on-year, reaching a record 59,575 in January.    

The Kingdom’s Real Estate General Authority said it is the highest number of commercial agreements documented in one month, bringing the total number of deals to more than 1.5 million, the Saudi Press Agency reported.   

The newly released figures fall in line with the growing demand for workspace and commercial properties in the Kingdom.    Rental contracts in Saudi Arabia hit record 59.57k in January