Saudi Arabia’s real estate deals rise by 19%

The number of real estate transactions recorded during the same period stood at around 20,900

  
Riyadh, Saudi Arabia.

Riyadh, Saudi Arabia.

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RIYADH: The value of real estate transactions in Saudi Arabia increased by 19 percent to approximately SR15.59 billion ($4.1 billion) in the period between August and September, as compared to SR13.12 billion in the same period last year, Argaam reported citing figures issued by the Justice Ministry.

The number of real estate transactions recorded during the same period stood at around 20,900.

Commercial real estate deals rose by 93 percent to reach SR5.2 billion compared to the same period last year.

Residential real estate deals represented 58.3 percent of the total transactions, commercial deals (33.4 percent), and agricultural and industrial deals stood at 8.3 percent.

Riyadh witnessed the largest number of real estate deals worth SR6.88 billion, followed by Jeddah at SR2.21 billion.

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