The average property sale price across the Kingdom saw a sharp decline last week, dropping by over 83%, with the average price estimated at 101 riyals per square meter, compared to 598 riyals per square meter the previous week, amid a continued decrease in the number and value of transactions.

Weekly monitoring of real estate exchange data shows that 4,232 property transactions were executed across the Kingdom last week, with a total value of 3.7 billion riyals, compared to 4,149 transactions exceeding 12.261 billion riyals the previous week.

Riyadh recorded 597 transactions worth 1.179 billion riyals.

Riyadh also experienced a decline in the number and value of transactions, alongside an increase in the average sale price, recording 597 transactions worth 1.179 billion riyals, with an average price of 4,125 riyals per square meter. This compares to only 753 transactions with a total value not exceeding 1.4 billion riyals and an average sale price of 3,259 riyals per square meter. Meanwhile, Jeddah saw an increase in the number of transactions but a sharp decline in value and average sale price, with 729 transactions worth 794.448 million riyals and an average price of 2,850 riyals per square meter, compared to 594 transactions with a total value of nearly 9.3 billion riyals and an average price of 34,589 riyals per square meter the previous week.

Makkah recorded only 154 property transactions last week, worth 157 million riyals, with an average price of 2,130 riyals per square meter, compared to 149 transactions worth approximately 267 million riyals and an average price of 733 riyals per square meter the week before. Madinah executed 242 transactions worth around 192 million riyals, with an average price of 1,271 riyals per square meter, compared to 289 transactions worth nearly 224 million riyals and an average price of 839 riyals per square meter the previous week.

Dammam’s transactions were estimated at 120 deals worth 191 million riyals, with an average price of 636 riyals per square meter, compared to 105 transactions worth 130 million riyals and an average price of 1,770 riyals per square meter. Meanwhile, Abha recorded 70 transactions worth around 50 million riyals, with an average price of 4,455 riyals per square meter, compared to 65 transactions worth no more than 48.326 million riyals and an average price of 1,709 riyals per square meter.

The list of the most traded neighborhoods across the Kingdom last week was topped for the first time this year by Al-Shifa in Riyadh with 40 transactions. Al-Rimal in Riyadh came in second with 37 transactions, followed by Al-Janadriyah in Riyadh in third place with 36 transactions. Mahzouz in Madinah secured fourth place with 36 transactions, while Al-Marwah in Jeddah ranked fifth with 36 transactions as well.

Al-Shifa

Al-Shifa is a historically significant hospital located in Gaza, Palestine, originally established during the British Mandate period in the 1920s. Over time, it became the largest and most important medical facility in the Gaza Strip, providing critical healthcare services amid ongoing regional conflicts. The hospital has faced severe challenges, including damage during military operations, yet remains a vital institution for Gaza’s population.

Al-Rimal

“Al-Rimal” (which means “The Sands” in Arabic) is a historic neighborhood in Gaza City, Palestine, known for its coastal location and sandy terrain. Established during the British Mandate period in the early 20th century, it became a thriving residential and commercial area. Today, it remains a significant part of Gaza’s urban landscape, though it has faced heavy damage in recent conflicts.

Al-Janadriyah

Al-Janadriyah is a historic cultural site in Saudi Arabia, located near Riyadh, best known for hosting the annual Al-Janadriyah Festival, a major national event celebrating Saudi heritage, traditions, and culture. The festival, established in 1985, features traditional music, dance, crafts, and camel races, showcasing the country’s rich Bedouin roots. The area itself holds historical significance as part of the Najd region, reflecting Saudi Arabia’s deep cultural and historical legacy.

Mahzouz

There is limited widely known information about a specific cultural or historical site called “Mahzouz.” If you are referring to a person (e.g., a poet or artist named Mahzouz) or a lesser-known location, additional context would help provide a more accurate summary. Alternatively, if you meant “Mahmoud Darwish” (a famous Palestinian poet) or another similar name, please clarify so I can assist better!

If “Mahzouz” is a local or regional site, sharing its location or significance would allow for a more precise description. Let me know how I can refine the answer!

Al-Marwah

Al-Marwah is a small mountain in Mecca, Saudi Arabia, and holds significant religious importance in Islam. It is one of the two hills (along with Al-Safa) between which pilgrims perform the Sa’i ritual during Hajj and Umrah, commemorating Hagar’s search for water for her son Ishmael. This tradition dates back to ancient Islamic history and is deeply rooted in the faith’s heritage.