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Demand on office properties remain robust in KSA

Saudi Arabia - July 29, 2015
Saudi-city_6

during the first half of this year according to Knight & Frank report.

The rising demand on office units goes back to the country’s expanding economy which grew by 3.5% last year backed by the oil sector positive results.

However, the growth in non-oil sectors eased a bit during 2014; finance, real estate and business sectors together covered 24% of Saudi total GDP last year growing by 4.1% and 3.3% respectively.

The report expected demand rates to rise as new enterprises are taking place, however, it didn’t see any possibility of a near change in offices rents as long as landlords are insensitive to changing supply-demand dynamics.

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