Research
The KSA Real Estate Market Q1 2022
Home ownership drive spurs growth of KSA residential sector in Q1 2022
April 26, 2022
Contributors:
- Khawar Khan
- Faraz Ahmad
- Rana Mira
- Hattan Alsharif
The performance of the office market picked-up across the Kingdom, supported by improving economic conditions and rising business activity in the first quarter of this year. Average rents in Riyadh across a basket of Grade A & B office buildings increased by 8% year-on-year whilst Jeddah saw a smaller rise of 3%.
In the hospitality market, Riyadh hotel occupancy jumped to over 71% in the first two months of 2022 compared with almost 51% in the corresponding period of 2021.
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