JLL country lead: Saudi real estate is changing

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00:00What are the key trends you're seeing in Saudi's big cities?

00:02Well, it depends on the asset class.

00:05Without a single doubt, the office has been the hottest in terms of price increases,

00:12followed by land prices over the last few years.

00:16But now with all the government regulations,

00:19it started a little bit to be more mature and stabilised

00:24and to start to be reduced a little bit over the past two months.

00:30I would say the retail has been almost stable.

00:33Some decline on the lower quality bit.

00:37So it's not as fast in terms of pace and the other sectors.

00:42When it comes to industrial,

00:44industrial has been witnessing significant growth

00:48due to the limitations of the available quality supply.

00:53And for the hospitality, there's been a significant shift toward Riyadh

00:57over the last few months.

01:00due to all of the events and conferences are being hosted.

01:04And finally, when it comes to the residential,

01:10Riyadh and Jeddah are a bit ahead of the curve.

01:12But Riyadh, again, has been witnessing a significant increase

01:16over the last few years

01:17due to the massive relocation of population

01:21internally within the kingdom

01:23to Riyadh, migration, and international experts.