Office Real Estate Market in Riyadh Led by Demand from Private Sector of Economy: Ken Research
Office Real Estate Market in Riyadh Led by Demand from Private Sector of Economy: Ken Research Manufacturing Focus on diversification of economy , promotion of manufacturing and services sector and demand from services related to rising number of industrial unit led the growth in demand for office space in Riyadh. Saudi Arabia is a key oil exporting country in the world and in the past few years has witnessed significant rise in other form of industries and services including energy, education banking and other service. This diversification of economy has created a significant rise in demand for office spaces across the country and especially in the capital city of Riyadh. Private players are the key participants in the rental office real estate market with small contribution coming from government agencies. During the period 2013-2016 office real estate market has registered constant increase in demand and supply with supply exceeding the demand all the time. Rentals...