Riyadh and Jeddah witness strong demand for Grade A office space: JLL – Construction Week Online
- Date: 21-Oct-2021
- Source: Construction Week
- Sector:Real Estate
- Country:Saudi Arabia
Riyadh and Jeddah witness strong demand for Grade A office space: JLL – Construction Week Online
Interest in quality grade A floor space gathered pace in quarter three in Riyadh and Jeddah, according to JLL’s Q3 2021 Real Estate Market Overview, which was released recently.
Demand for grade A floor space was strongest from the government and banking sectors, with large floor spaces in northern Riyadh broadly being targeted. Grade B office rents in Riyadh and Jeddah, meanwhile, are expected to remain under downward pressure, says the JLL report.
“There were signs that activity in Saudi Arabia picked up as summer holidays came to an end and travel restrictions eased,” said Khawar Khan, Head of Research for the Middle East, Africa & Turkey region at JLL.
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