The Saudi Arabia Commercial Real Estate Market is Segmented by Property Type (Office, Retail, Logistics, and More), by Business Model (Sales and Rental), by End User (Individuals / Households, Corporates and SMEs and More), and by Region (Riyadh, Jeddah, Makkah and Rest of Saudi Arabia). The Market Sizes and Forecasts are Provided in Terms of Value (USD).

Saudi Arabia commercial real estate market hit USD 71.4 Bn in 2024. Projected to reach USD 91.87 Bn by 2032, growing at a 4.1% CAGR. Get the latest insights and forecast data.

Saudi Arabia, Turkey, and UAE were the largest commercial real estate markets in the Middle East and Africa (MEA) region in 2024. As of the last month of 2024, the value of commercial real estate in Saudi Arabia was estimated at ****** billion U.S. dollars. In Turkey, this figure stood at ****** billion U.S. dollars.

Comprehensive dataset containing 1,001 verified Commercial real estate agency businesses in Saudi Arabia with complete contact information, ratings, reviews, and location data.

Saudi Arabia Commercial Real Estate Market size was valued at USD 45.2 Billion in 2024 and is projected to reach USD 68.7 Billion by 2031, growing at a CAGR of 5.3% from 2024 to 2031.

Saudi Arabia Commercial Real Estate Market Drivers

Vision 2030: This national transformation plan is at the heart of Saudi Arabia's economic diversification efforts. It aims to reduce reliance on oil and promote growth in various sectors, including tourism, entertainment, and technology. This vision is driving massive investments in infrastructure and mega-projects, creating significant demand for commercial real estate.

Economic Diversification: As Saudi Arabia diversifies its economy, new industries are emerging and existing ones are expanding. This requires a variety of commercial spaces, including offices, retail outlets, industrial parks, and logistics facilities, fueling the demand for commercial real estate.

Social Reforms: Social reforms, such as increased female participation in the workforce and relaxed social restrictions, are creating new opportunities for businesses and driving demand for commercial spaces. For example, the rise in female employment necessitates more office spaces, while the growth in entertainment options boosts the need for retail and leisure facilities.

Tourism Development: Saudi Arabia is actively promoting tourism as a key sector for economic growth. This is leading to significant investments in hospitality infrastructure, including hotels, resorts, and entertainment venues, which are driving the demand for commercial real estate in the hospitality sector.

Mega-Projects: The Kingdom is home to several ambitious mega-projects, such as NEOM, the Red Sea Project, and Riyadh's new city center. These projects involve the development of large-scale commercial, residential, and entertainment districts, creating substantial demand for commercial real estate across various sectors.

Government Support and Initiatives: The Saudi government is actively supporting the growth of the commercial real estate market through various initiatives, such as easing regulations, streamlining investment procedures, and providing financial incentives. This creates a favorable environment for developers and investors.

In the one year period till the first quarter of 2021, due to aftermath of the global COVID-19 pandemic, the commercial real estate price index in Saudi Arabia decreased by *** percent. At the height of the global pandemic in ** 2020, the commercial real estate index in Saudi Arabia decreased by *** percent.

Saudi Arabia Real Estate Price Index: 2023=100: Commercial data was reported at 107.200 2023=100 in Mar 2025. This records a decrease from the previous number of 109.539 2023=100 for Dec 2024. Saudi Arabia Real Estate Price Index: 2023=100: Commercial data is updated quarterly, averaging 96.522 2023=100 from Mar 2021 (Median) to Mar 2025, with 17 observations. The data reached an all-time high of 109.539 2023=100 in Dec 2024 and a record low of 80.914 2023=100 in Jun 2021. Saudi Arabia Real Estate Price Index: 2023=100: Commercial data remains active status in CEIC and is reported by General Authority for Statistics. The data is categorized under Global Database’s Saudi Arabia – Table SA.EB001: Real Estate Price Index: 2023=100.

Real Estate Market in Saudi Arabia is Segmented by Residential Estate (Apartments, Villas) and Commercial Real Estate (Offices, Retail, Hospitality, Others). The Report Offers Market Size and Forecasts for the Real Estate Market in Saudi Arabia in Value (USD) for the Above Segments.

The Saudi Arabian office real estate market is experiencing robust growth, fueled by Vision 2030's ambitious diversification plans and significant investments in infrastructure and non-oil sectors. The market's size, while not explicitly stated, can be reasonably estimated based on the provided CAGR of 8.12% and a base year of 2025. Assuming a 2025 market size of approximately $5 billion (USD), the market is projected to expand considerably by 2033. Key growth drivers include the expansion of the financial services, technology, and government sectors, leading to increased demand for modern and well-located office spaces. Major cities like Riyadh, Jeddah, and Makkah are at the forefront of this growth, attracting both domestic and international companies. The thriving business environment, coupled with government initiatives to enhance the ease of doing business, are contributing to this positive trajectory. However, challenges remain. While the overall outlook is optimistic, potential restraints include fluctuations in global oil prices, which can indirectly impact the overall economic climate. Furthermore, the market needs to adapt to evolving work patterns, such as the increased adoption of remote work and flexible office arrangements. Competition among established players and new entrants is also shaping the market landscape. The success of Saudi Arabia's real estate market hinges on the continued implementation of Vision 2030, its ability to manage economic fluctuations effectively, and its capacity to attract and retain foreign investment. The successful diversification of the Saudi Arabian economy will play a crucial role in the long-term growth of the office real estate sector. Recent developments include: November 2022: Arabian Centres Company, Saudi Arabia's largest mall operator, has agreed to sell non-core assets worth 2 billion Saudi riyals to Adeer Real Estate. A study determined that the assets were best suited for residential or office space development rather than supporting the mall operator's strategic priorities of developing lifestyle destinations., October 2022: Ajdan Real Estate Development Company announced that it has signed a contract with Al-Muhaidib Group to develop, market, and operate the 250 million Saudi riyals (USD 66.5 million) Bayfront commercial project on the east coast of Al-Khobar. The Bayfront will be located on the northern part of Al-Khobar's beach, spanning over 100,000 square metres (sqm) from the shore and a 1,600 sqm island.. Notable trends are: Increasing Demand for Office Spaces in Key Commercial Cities.

The Saudi Arabian real estate market, valued at $69.51 billion in 2025, is experiencing robust growth, projected to expand at a compound annual growth rate (CAGR) of 8% from 2025 to 2033. This expansion is fueled by several key drivers. Government initiatives like Vision 2030, aimed at diversifying the economy and improving infrastructure, are significantly boosting investment in both residential and commercial properties. A burgeoning population and rising urbanization are increasing demand, particularly for apartments and villas in residential sectors and offices, retail spaces, and hospitality venues in commercial sectors. Furthermore, increased foreign investment and a favorable regulatory environment are attracting both domestic and international players, contributing to market dynamism. However, challenges remain. While material costs and fluctuating interest rates can influence market stability, the overall growth trajectory remains positive, driven by the long-term vision and strategic economic diversification plans of the Saudi Arabian government. The market segmentation reveals a strong presence in both residential and commercial sectors. Residential real estate, encompassing apartments and villas, constitutes a significant portion of the market, driven by the increasing population and government initiatives focused on affordable housing solutions. Commercial real estate, including offices, retail spaces, hospitality, and other sectors, is witnessing growth due to expansion in various industries and increased tourism. Key players like Emaar, Jabal Omar, and Sedco Development are actively shaping the market landscape, alongside international firms such as JLL and Century 21. The competitive landscape is dynamic, with both established players and new entrants vying for market share, further fueling innovation and competition in the sector. The forecast period suggests continued growth, albeit with potential fluctuations influenced by global economic conditions and local regulatory adjustments. Recent developments include: May 2023, The National Security Services Company (SAFE), which leads the transformation of the local security services sector, has signed an acquisition agreement to acquire ABANA Enterprises Group Company's assets connected to the transit of cash and valuable goods. ABANA Enterprises Group Company is at the forefront of providing such services in the Kingdom. The acquisition of ABANA Enterprises Group Company's assets connected to the transit of cash and valuable goods will help SAFE achieve its primary goal of providing the most advanced security solutions and services for customers., July 2022, SEDCO Capital REIT Fund's board has approved acquiring two income-generating real estate assets worth SR700 million (USD 187 million), located in Riyadh and Jeddah. This acquisition will be covered by new units and by using banking facilities in accordance with the Fund's terms and conditions, according to a bourse filing. The Fund expects that this acquisition will positively impact its overall performance, as it seeks to add value to its portfolio, as well as its unitholders.. Key drivers for this market are: 4., Growth in Commercial Activities and Increased Competition4.; Increasing Demand for Affordable Housing Units. Potential restraints include: 4., Growth in Commercial Activities and Increased Competition4.; Increasing Demand for Affordable Housing Units. Notable trends are: The Residential Sector Sustains Country's Real Estate Market.

The Saudi Arabia Real Estate Market exhibits remarkable growth potential, fueled by increasing urbanization and the rapid modernization initiatives under Vision 2030 across the country. Significant technological advancements in construction methodologies and smart building technologies are creating substantial opportunities for market development. The growing awareness among investors about the benefits of Saudi Arabian real estate and considerable investments in infrastructure development projects are fundamentally transforming the property landscape. This is likely to enable the market size to surpass USD 69.50 Billion valued in 2024 to reach a valuation of around USD 127.64 Billion by 2032.The rapid expansion of the Saudi Arabia Real Estate Market is primarily driven by the implementation of Vision 2030 initiatives, which have been supported by regulatory reforms, foreign investment inflows and diversification efforts away from oil dependency. This enables the market to grow at a CAGR of 7.90% from 2026 to 2032.

Context

The goal of this statistical analysis is to help us understand the relationship between house features and how these variables are used to predict the house price.

The chosen cities are Riyadh, Jeddah, Dammam, and Al-Khobar

• Riyadh is the capital and largest city in Saudi Arabia, with the largest municipal population in the Middle East. Riyadh has a diverse range of people and cultures, it is still growing day by day.

• Jeddah which located in the middle of the eastern coast of the red sea and is considered the economic and tourism capital of the country.

• Dammam it lies on the Persian Gulf northwest of Bahrain Island and forms a larger metropolitan and industrial complex with Khobar, Qatif, and Dhahran.

• Al-Khobar city is one of the three main cities in the Eastern Province, the others being Dammam and Dhahran. It is developing into an important industrial city, with factories turning out industrial gas, dairy products, carbonated water, tissue paper and ready-made garments.

This dataset will only focused on the rental houses.

Content

-city: city where house locate in -district: district where house locate in -front: What is the house front is north, west .. etc -size: size in m^2 -property_age: property age for the house -bedrooms: number of bedrooms -bathrooms: number of bathrooms -livingrooms: number of livingrooms -kitchen: show whether the house have a kitchen or not -garage: show whether the house have a garage or not -driver_room: show whether the house have a driver_room or not -maid_room: show whether the house have a maid_room or not -furnished: show whether the house is furnished or not -ac: show whether the house have a ac or not -roof: show whether the house have a space for roof on top or not -pool: show whether the house have a pool or not -frontyard: show whether the house have a frontyard or not -basement: show whether the house have a basement or not -duplex: show whether the house is a duplex or not -stairs: show whether the house have a stairs or not -elevator: show whether the house have an elevator or not -fireplace: show whether the house have a fireplace or not -price: show the price of the house -details: shows any additional details from the house owner about the house

Aims

This dataset aims to help analyzing the real estate of those cities to investigate the relationships of prices with other features. The dataset is collected and scrapped from Aqar website.

Global firms and government-backed initiatives are increasing the demand for high-quality, energy-efficient office buildings, accelerating the development of smart, sustainable office projects. According to the analyst from Verified Market Research, the Saudi Arabia office real estate market is estimated to reach a valuation of USD 19.93 Million over the 2032 forecast period, subjugating around USD 10 Million in 2024Developments such as NEOM, The Line, and Red Sea Global are attracting businesses, resulting in increased demand for office space. It enables the market to grow at a CAGR of 9% from 2026 to 2032.

In the one year period till the first quarter of 2021, the residential real estate price index in Saudi Arabia increased by *** percent. Due to the global COVID-19 pandemic, the commercial real estate price index in Saudi Arabia decreased by *** percent during the same period.

Saudi Arabia Real Estate Price Index: 2014=100: Riyadh: Commercial data was reported at 74.420 2014=100 in Mar 2019. This records an increase from the previous number of 64.700 2014=100 for Dec 2018. Saudi Arabia Real Estate Price Index: 2014=100: Riyadh: Commercial data is updated quarterly, averaging 74.500 2014=100 from Mar 2015 (Median) to Mar 2019, with 17 observations. The data reached an all-time high of 95.100 2014=100 in Mar 2015 and a record low of 64.700 2014=100 in Dec 2018. Saudi Arabia Real Estate Price Index: 2014=100: Riyadh: Commercial data remains active status in CEIC and is reported by General Authority for Statistics. The data is categorized under Global Database’s Saudi Arabia – Table SA.I019: Real Estate Price Index: 2014=100.

The global commercial real estate brokerage and management market size is expected to reach USD 494.96 billion in 2032, growing at a CAGR of 7.2% and Rise in Government Initiatives for Real Estate Investments drive market growth.
Report Scope:

The Jeddah commercial real estate market exhibits robust growth potential, projected to reach a market size of $2.26 billion in 2025 and maintain a Compound Annual Growth Rate (CAGR) of 9.88% from 2025 to 2033. This expansion is fueled by several key drivers. Significant investments in infrastructure development, including transportation improvements and urban renewal projects, are attracting both domestic and international businesses. Furthermore, the burgeoning tourism sector, driven by initiatives like the Red Sea Project and NEOM, contributes to increased demand for office, retail, and hospitality spaces. Government initiatives aimed at diversifying the Saudi Arabian economy away from oil dependence also play a crucial role, stimulating private sector investment and creating a favorable environment for commercial real estate development. The market's segmentation is likely diverse, encompassing high-end office towers in central Jeddah, retail spaces in burgeoning commercial districts, and logistics facilities catering to the growing trade and e-commerce sectors. Key players such as Makkah Construction and Development Company, Jabal Omar Development Company, and the Binladin Group are shaping the market landscape through large-scale projects and developments. However, potential market restraints could include fluctuating global economic conditions and the availability of skilled labor. The forecast period (2025-2033) anticipates sustained growth, with projected increases in both market size and investment activity. This positive outlook is supported by a continuation of the current economic diversification efforts and ongoing infrastructural improvements within Jeddah. The ongoing development of mega-projects like the Red Sea Development and the expansion of King Abdulaziz International Airport will further drive demand. Competitive landscape analysis reveals a mix of established players and emerging developers, suggesting a dynamic and increasingly competitive market. While precise segment-specific data remains unavailable, it's reasonable to infer significant growth across all segments given the overall market expansion. Ongoing monitoring of economic indicators, government policies, and competitor activities will be essential for a comprehensive understanding of future market trends. Key drivers for this market are: Increasing Spending on the Commercial Construction. Potential restraints include: Materials and Labor Shortages. Notable trends are: The Office and Retail Industry is Expected to Dominate the Market.

Jeddah's commercial real estate market is booming, with a projected CAGR of 9.88% to 2033. Discover key drivers, trends, and insights into this lucrative market, including prominent players like Emaar Economic City and the impact of Vision 2030. Invest wisely in this rapidly expanding sector. Recent developments include: November 2023: Saudi Ports Authority 'Mawani' and CMA CGM launched a new logistics park in Jeddah Islamic Port with a total area of more than 130,000 square meters and an investment value exceeding SAR 487 million (USD 12.9 million) over the project's duration., February 2023: The Saudi Ports Authority signed an agreement worth SAR 1 billion (USD 0.26 billion) with the Jeddah Chamber of Commerce and Industry to develop an integrated logistics area in the Al-Khumra region south of Jeddah. The integrated logistics zone spans 3 million sq. m divided into three sub-areas of shared modular warehouses, single warehouses, large yards, and on-demand warehouses.. Key drivers for this market are: Increasing Spending on the Commercial Construction. Potential restraints include: Increasing Spending on the Commercial Construction. Notable trends are: The Office and Retail Industry is Expected to Dominate the Market.

Saudi Arabia GDP: Producer Values: Finance, Insurance, Real Estate and Business Services data was reported at 153,052.000 SAR mn in Dec 2024. This records an increase from the previous number of 139,483.000 SAR mn for Sep 2024. Saudi Arabia GDP: Producer Values: Finance, Insurance, Real Estate and Business Services data is updated quarterly, averaging 71,549.000 SAR mn from Mar 2003 (Median) to Dec 2024, with 88 observations. The data reached an all-time high of 153,052.000 SAR mn in Dec 2024 and a record low of 21,016.000 SAR mn in Sep 2003. Saudi Arabia GDP: Producer Values: Finance, Insurance, Real Estate and Business Services data remains active status in CEIC and is reported by General Authority for Statistics. The data is categorized under Global Database’s Saudi Arabia – Table SA.A019: GDP: by Industry: Current Price.

Comprehensive dataset containing 1,595 verified Real estate developer businesses in Saudi Arabia with complete contact information, ratings, reviews, and location data.