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English news

25-Jun-2018

Real estate transactions’ value down 19% in Ramadan, 9% Hijri YTD

The total value of real estate transactions in the Kingdom dropped 9% Y-o-Y in Hijri-9M39 (21 Sep 2017 to 14 Jun 2017) to SAR148.1bn and 19% Y-o-Y in Ramadan (16 May to 14 June) to SAR10.2bn, driven by a 33% decline in residential activity. The value of residential transactions fell by 11% Y-o-Y in Riyadh and by 53% in Jeddah. Commercial activity was strongest in Jeddah, though, recording a Y-o-Y increase of 233%.