We have released our latest Riyadh Office Market Report for Q1 2024.

The office market in Riyadh continued its strong performance in Q1 2024, mirroring the resilience of the non-oil sector.

Here are some of the key highlights from the report:

• The sector remained the key driver of the economy and surged by a robust 4.4% in 2024, despite a revised overall GDP last year, which showed a decline of 0.8%.
• Continued strength in non-oil activities is expected to propel GDP growth to a projected 2.1% in 2024.
• Grade A offices witnessed an increase in rents by 5%bvs the last quarter, owing to the buoyant demand for quality assets.
• Technology, Media & Telecommunications (TMT) and Banking, Financial Services and Insurance (BFSI) companies dominated occupier inquiries, comprising 27% of the total inquiries received by Savills.

For detailed insights, read the full report now.

You can read the Arabic report here.