Saudi Arabia kicks off year with “fragmented performance” in the real estate sector – Construction Week Online

Saudi Arabia kicks off year with “fragmented performance” in the real estate sector – Construction Week Online

Saudi Arabia’s real estate sector has started the year with fragmented performance and activity levels across the Kingdom’s regions.

Looking at Saudi Arabia’s office sector figures, visitation to the workplace has since late September 2021 remained above its pre-pandemic baseline and now sits 19.7% above the baseline, with the majority of occupier activity continuing to be very much skewed towards Riyadh.

As a result, CBRE has seen average rents in Riyadh’s Grade A segment increase by 8.6% and Grade B rents by 6.0% in Q1 2022.