Complex Made Simple

Property deals fall by 25 per cent in Saudi Arabia’s Eastern Province

Residential sector dominates market

Real estate indicators released by the Saudi Ministry of Justice reveal that the number of registered deals in the Eastern Province amounted to 3,625 in November 2015.

The total value of deals reached SAR4 billion – down by 25 per cent or 1,236 transactions, while the value of deals declined by 15.1 per cent or SAR745 million, compared with November 2014, reports Saudi-based Al Yaum.

Indicators also recorded a sharp decline in the number of deals – by more than 33.8 per cent of the total or 10,129 deals – and their value – by more than 40.8 per cent or SAR16.6 billion – in the Kingdom during the current month in the residential and commercial sectors, compared with the statistics recorded in the same month of last year.

The residential sector dominated the market and accounted for 17,086 deals, down from the same month last year by almost 32 per cent.

(SAR1 = AED 0.98, at the time of publishing)