23 billion riyals real estate deals in Rajab, an increase of 68%

Data issued by the Ministry of Justice showed an increase in the value of real estate transactions during the last month of Rajab by 68% to reach about 23.13 billion riyals, compared to the same period last year, when it reached about 13.77 billion riyals at that time, and thus recorded its highest value in 8 months, i.e. since then Al-Qa’dah 1441, which at that time amounted to 26.5 billion riyals. Compared to last Jumada al-Akhirah, real estate deals recorded an increase of 4.4 billion riyals, by 23%. The number of deals during last Rajab reached about 33.6 thousand, up from 25.1 thousand during Rajab 1441. The number of properties sold during the period increased to 34.7 thousand, and the increase returns within a month. Rajab 1442 AH, led to an increase in residential real estate deals by 42% to reach 14.42 billion riyals compared to the same period of the last Hijri year. Commercial also recorded an increase of 73% to reach 5.83 billion riyals, and agricultural and industrial transactions amounted to about 2.88 billion riyals. The data issued by the Ministry of Justice showed that a large real estate deal was executed on a plot of agricultural land on Rajab 25, 1442 AH, with a value of 1.77 billion riyals.

The value of housing deals accounted for 62.3%, commercial deals 25.2%, and agricultural and industrial deals at 12.5%.

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