19 Hrs
Source:
الاقتصادية
Riyadh Shopping Centers 91% Occupied
The article focused on the stability of the retail market in the three largest cities in Saudi Arabia during the first half of 2026, amidst continued strong demand for commercial spaces, especially in Riyadh, Jeddah, and Dammam. Riyadh saw an increase in average rents by 1.2%, reaching 2,650 SAR per square meter, with the occupancy rate remaining stable at 91%. Jeddah maintained its resilience with an occupancy rate of 88%, while Dammam recorded the highest occupancy at 94%. The supply of retail spaces continues to expand, with the market size expected to reach 470 billion SAR by 2030, supported by lifestyle projects that combine shopping and entertainment. The food and beverage sector is also experiencing rapid growth, with a continuing rise in demand for healthy, fast, and informal dining concepts. There is a significant concentration among tenants on integrated destinations, as restaurants now account for 76% of tenants in lifestyle-based retail projects. Consumer trends are shifting toward cashless payment methods, with e-commerce spending increasing by 42% and cash withdrawals decreasing by 7%. Overall, the market demonstrates ongoing resilience despite challenges, with a shift toward developing distinctive shopping destinations to enhance attractiveness and boost sales.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)