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FINANCIAL NEWS
Saudi’s residential market drops in Q1
20 Jul 2016
(MENAFN) The residential market in Riyadh and Jeddah softened over the first quarter amid a minor decrease in sales and rental rates through year-on-year indicators in the first quarter.
In detail, the lease rates in the apartment sector in Jeddah achieved a y-o-y growth of 8.3%, while in Riyadh this indicator reached 3%, stated PKF Consulting, an international firm of industry specialists.
Moreover, the villa segment in Jeddah witnessed a 1.2% growth in rental rates, while this segment experienced no annual change in Riyadh. Furthermore, q-o-q rental rates in Riyadh
Although this is the highest growth rate recorded in the residential market in these cities in Q1, this was the slowest rate of growth recorded in Jeddah since mid-2015.
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BBK Successfully Closes USD Benchmark Bond Offering at $500 Million, in Collaboration with a Consortium of Regional and International Banks.
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