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JLL country lead: Saudi real estate is changing
AlArabiya English
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00:00
What are the key trends you're seeing in Saudi's big cities?
00:02
Well, it depends on the asset class.
00:05
Without a single doubt, the office has been the hottest in terms of price increases,
00:12
followed by land prices over the last few years.
00:16
But now with all the government regulations,
00:19
it started a little bit to be more mature and stabilised
00:24
and to start to be reduced a little bit over the past two months.
00:30
I would say the retail has been almost stable.
00:33
Some decline on the lower quality bit.
00:37
So it's not as fast in terms of pace and the other sectors.
00:42
When it comes to industrial,
00:44
industrial has been witnessing significant growth
00:48
due to the limitations of the available quality supply.
00:53
And for the hospitality, there's been a significant shift toward Riyadh
00:57
over the last few months.
01:00
due to all of the events and conferences are being hosted.
01:04
And finally, when it comes to the residential,
01:10
Riyadh and Jeddah are a bit ahead of the curve.
01:12
But Riyadh, again, has been witnessing a significant increase
01:16
over the last few years
01:17
due to the massive relocation of population
01:21
internally within the kingdom
01:23
to Riyadh, migration, and international experts.
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