HomeReal EstateRiyadh tops Saudi’s Rent Index in March
By Economy Middle East
April 12, 2022 5:03 am

Riyadh tops Saudi’s Rent Index in March

Residential lease deals amounted to more than 139 thousand contracts

The city of Riyadh topped the rental index report for Saudi Arabia for the second month in a row, taking over 31 percent of the total rental deals registered, according to the Ejar monthly report.

Jeddah came in second with more than 19 percent, followed by Dammam with 6 percent, then Makkah Al-Mukarramah by more than 4 percent, Al-Madinah Al-Munawwara, and Al-Khobar closely followed with more than 3 percent.

The deals were based on residential and commercial lease contracts concluded during March and recorded in a rental database, which was distributed among the cities included in the rental index.

Residential lease deals amounted to more than 139 thousand contracts, while commercial lease deals exceeded 46 thousand contracts.

The rental index aims to facilitate transparency in the rental market in the Kingdom by determining specific indicators for cities, neighborhoods, and different types of real estate, both residential and commercial.

The service uses interactive maps as well as the “rental indicator,” to enable beneficiaries to search for appropriate options that suit their needs, and to facilitate searches within the cities and neighborhoods covered by the service, which can be accessed through the “Sakani” platform.