JLL anticipates steady industrial occupancy in Saudi Arabia

A report by JLL predicts continued high occupancy levels in Saudi Arabia's industrial real estate sector, driven by rising demand for logistics spaces due to investor confidence and ongoing progress in Vision 2030 to diversify the economy. Major industrial hubs such as Riyadh, Jeddah, and Dammam have occupancy rates exceeding 90%, with rental prices increasing notably. The average rent in Jeddah has risen by 4.8%, and in Dammam by 6.9%. Additionally, the strategic focus on port infrastructure and shifting shipping activity to the western ports has strengthened Saudi Arabia's position as a global logistics hub. Despite an expected increase in supply, occupancy levels are anticipated to remain high in the near and medium term.

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