The decline in real estate transactions in Riyadh has continued for approximately 4 months. Last week, the number of transactions in the capital did not exceed 594, while last year the weekly transaction count often exceeded 7,000 to 8,000.

5,040 real estate transactions were executed across the Kingdom last week, covering an area estimated at 25 million square meters, with a total value of around 4.2 billion riyals and an average price of 164 riyals per square meter. This compares to 4,938 real estate transactions valued at nearly 5.9 billion riyals the previous week, with an average price of 190 riyals per square meter.

Riyadh city recorded 594 real estate transactions valued at 951 million riyals

Riyadh city recorded 594 real estate transactions valued at 951 million riyals, with an average price of 3,922 riyals per square meter. This compares to 639 transactions valued at 1.474 billion riyals and an average price estimated at 2,140 riyals per square meter. Meanwhile, Jeddah city witnessed 773 transactions exceeding a value of one billion riyals, with an average price of 3,339 riyals per square meter, compared to 913 transactions valued at around 1.3 billion riyals and an average price of 3,613 riyals per square meter the week before.

Makkah city witnessed 186 transactions valued at 277 million riyals, with an average price of 1,935 riyals per square meter, compared to 170 transactions valued at 663 million riyals and an average price of 8,028 riyals per square meter the previous week. Madinah city recorded 282 transactions with a value exceeding 248 million riyals and an average price of 672 riyals per square meter, compared to 307 transactions valued at around 313 million riyals and an average price of 502 riyals per square meter the week before.

Dammam city’s real estate transactions last week were estimated at 191 transactions exceeding a value of 255 million riyals, with an average price of 400 riyals per square meter, compared to 119 transactions valued at nearly 136 million riyals and an average price of 2,613 riyals per square meter the previous week. Abha city witnessed 84 transactions valued at 49 million riyals and an average price of 1,244 riyals per square meter, compared to 73 transactions exceeding 46 million riyals and an average price of 894 riyals per square meter the week before.

Topping the list of the most traded neighborhoods across the Kingdom during the week was Al-Marwa in Jeddah with 62 transactions. Al-Nahda in Buraidah came in second with 53 transactions, followed by Al-Janadriyah in Riyadh in third place with 51 transactions. Mahzur in Madinah ranked fourth with 49 transactions, and Ukaz in Riyadh secured fifth place with 41 transactions.

Riyadh

Riyadh is the capital and largest city of Saudi Arabia, serving as the nation’s political and administrative center. Historically a walled oasis town and a significant trading hub, it was captured in 1902 by King Abdulaziz Al Saud, an event that marked the beginning of the modern Saudi state. The city has since undergone rapid modernization, transforming into a bustling metropolis and a major financial hub.

Jeddah

Jeddah is a major port city on Saudi Arabia’s Red Sea coast, historically serving as the gateway for pilgrims traveling to the holy cities of Mecca and Medina. Its historic core, Al-Balad, is a UNESCO World Heritage site famed for its distinctive coral stone architecture and traditional merchant houses.

Makkah

Makkah (Mecca) is the holiest city in Islam, located in Saudi Arabia. It is the birthplace of the Prophet Muhammad and the site of the Kaaba, the most sacred shrine in Islam, which Muslims believe was built by Abraham and his son Ishmael. Every year, millions of Muslims perform the Hajj pilgrimage to the city, a religious duty that must be carried out at least once in their lifetime.

Madinah

Madinah (officially Al-Madinah Al-Munawwarah, meaning “The Enlightened City”) is a holy city in Saudi Arabia and the burial place of the Islamic prophet Muhammad. It was the destination of his migration (Hijrah) from Mecca in 622 CE, an event that marks the beginning of the Islamic calendar, and it served as the capital of the first Muslim community. The city is home to the Prophet’s Mosque (Al-Masjid an-Nabawi), one of the largest and most important mosques in Islam.

Dammam

Dammam is the capital of the Eastern Province of Saudi Arabia and a major administrative center for the Saudi oil industry. Its modern history began in the 1930s when it became the operational hub for the first commercial oil well at nearby Dhahran, which transformed the small fishing village into a vital economic port city. Today, it forms a key part of the Dammam metropolitan area, a bustling tri-city region with Dhahran and Al Khobar.

Abha

Abha is the capital of Asir Province in southwestern Saudi Arabia, a city renowned for its cool, mountainous climate and lush green scenery, which is unusual for the country. Historically, it was a key settlement for trade and agriculture and is famous for its distinct architecture, including fortified mud-brick houses and ancient villages like Rijal Almaa.

Al-Marwa

Al-Marwa is a small hill located within the Masjid al-Haram in Mecca, Saudi Arabia. It is one of the two hills (the other being Al-Safa) between which pilgrims perform the Sa’i, a ritual of walking back and forth, as part of the Hajj and Umrah pilgrimages. This rite commemorates the actions of Hagar, who, according to Islamic tradition, desperately ran between the hills seven times searching for water for her son Ishmael.

Al-Nahda

“Al-Nahda” (Arabic for “The Renaissance”) is a term most famously associated with a major cultural and intellectual movement that began in the Arab world in the late 19th and early 20th centuries. It was a period of modernization and literary revival that sought to reconcile Islamic heritage with contemporary Western ideas. While not a physical place, its legacy is a foundational part of the cultural history across the Arab world.