Saudi office market reaches a new high in Q3 ...United Arab Emirates

ME CONSTRUCTION NEWS - Local News
Saudi office market reaches a new high in Q3
source : ME CONSTRUCTION NEWS ( United Arab Emirates ) () 35
A new CBRE report shows that Saudi Arabia’s office market performance further improved in the third quarter of 2023, as quality supply rapidly emerged across the kingdom. As of Q3 2023, Riyadh’s King Abdullah Financial District (KAFD) has leased more than 60% of its office space. Meanwhile, for occupiable premises, this rate is substantially higher, at 92.2%. Landmark transactions within KAFD included the acquisition of around 22,000 sq. m. of office space by two major management consulting firms. Whilst demand remains very much centered towards Riyadh, demand nonetheless trickles into Jeddah and the Dammam Metropolitan Area (DMA). In terms of upcoming quality supply in the next two years, k

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