Arab Today, arab today riyadh rents jump on business demand
Last Updated : GMT 19:26:14
Arab Today, arab today
Arab Today, arab today

Riyadh rents jump on business demand

Arab Today, arab today

Arab Today, arab today Riyadh rents jump on business demand

Riyadh - Arabstoday

Companies leasing office space in Saudi’s capital could see their rents jump to levels on par with property in Abu Dhabi and Dubai, said Jones Lang LaSalle in a report published Tuesday. Commercial rates in Riyadh are averaging SR1,060 per sq m in the city’s Central Business District (CBD), as a string of new developments helps to attract businesses to the region. Developments such as Riyadh Business Gate, the ITC Complex and the King Abdullah Financial District in particular are attracting business tenants to the capital, cutting vacancy rates in the CBD to just 16 percent, the property broker said. “Demand [for office space] is strong in the Riyadh market, from the government, the multinational sector and also from Saudi conglomerates and contractors,” said the report, adding that prime office space was commanding rents of about SR1,400. “There will be upward pressure on vacancy rates in 2012 with the completion of new supply, however, the top quality projects…will continue to enjoy occupancy levels close to 100 percent.” Residential property rates in the Gulf kingdom are also rising, a trend likely to continue into the new year, JLL said. Average villa prices across all Riyadh districts rose four percent in the third quarter year-on-year, reaching SR3,050 per sq m.   Apartments also saw a small uptick, with the average price per sq m passing SR2,343, a rise on one percent on the year-earlier period.  “Increasing land prices and access to better roads networks have played a major role in increasing villa prices,” the report said. “Due to high occupancy rates, rents in [especially] middle income areas have also continued to grow at high levels.” In the next two years, more than 2,000 compound units will be added to the existing stock, the company said, relieving the existing expatriate housing shortage. However, residents could soon be subjected to a flurry of new real estate laws, with the practice of owners’ associations and service charges being tested on two pilot projects.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today riyadh rents jump on business demand Arab Today, arab today riyadh rents jump on business demand

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today riyadh rents jump on business demand Arab Today, arab today riyadh rents jump on business demand

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Sheraton Grand Hotel reveals its deals

GMT 12:20 2017 Monday ,25 September

Sheraton Grand Hotel reveals its deals
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iraq Kurds in historic independence vote

GMT 15:20 2017 Monday ,25 September

Iraq Kurds in historic independence vote
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:02 2017 Sunday ,24 September

Harry visits mental health hospital

GMT 11:11 2017 Sunday ,24 September

The dark side of new tourism hope

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday