RIYADH: Saudi Arabia’s ongoing economic diversification push is energizing its property market, with office rents in Riyadh climbing 15 percent year on year and occupancy hitting 98 percent, CBRE said.
Backed by $1.55 trillion in potential long-term investments and major reforms such as the expanded white land tax and a five-year rent freeze.
In its Q3 2025 Saudi Arabia Real Estate Market Review, CBRE said the office sector continues to drive momentum, buoyed by the Kingdom’s non-oil economic expansion and an influx of multinational companies relocating regional headquarters to Riyadh.
Strengthening the property market is central to Vision 2030, as the Kingdom works to position itself as a global business and tourism hub. The Real Estate General Authority forecasts the sector will reach $101.6 billion by 2029, expanding at an 8 percent compound annual growth rate from 2024.
Matthew Green, head of research at CBRE for the Middle East and North Africa region, said: “Saudi Arabia’s real estate market is currently moving through a major transformation phase, amidst significant regulatory reforms, and sustained strategic investments, creating a dynamic environment for investors, developers, and occupiers alike.”
