Research
Kingdom of Saudi Arabia Office Market Dynamics, Q2 2024
Summary and analysis of the Kingdom of Saudi Arabia's current office real estate market conditions.
September 09, 2024
Contributors:
- Saud Alsulaimani
Riyadh has seen the delivery of approximately 52,000 sq. m. of office space, this brings the total level of supply in the market to 5.2 million sq. m.
In the capital, there continues to be significant levels of demand from both government related entities and the private sector, although the former accounts for the majority of demand.
Given this market backdrop, average Grade A rents in the capital have seen rental growth rates register a 19% year-on-year (y-o-y) increase, reaching SAR 2,090 per sq. m. per annum.
