13 Hrs
Source:
الاقتصادية
Riyadh Lands Priced at 1500 SAR per Meter
The land plots in Riyadh, priced at no more than 1,500 riyals per square meter under the Real Estate Balance Program, have led to an increase in supply and a reduction in prices in some neighborhoods that previously experienced rises. This is especially due to the entry of large areas of land into the market, totaling a quarter of the city's size. This measure has contributed to a decline in land prices from high levels of up to 2,500 riyals per square meter and has established a new reference price, enhancing buyers' options and curbing speculative price hikes. However, it does not represent a complete solution to the real estate market situation, as its success depends on the integration of other policies and infrastructure development. These policies are expected to gradually impact the prices of villas and apartments over the next two years, with the continued introduction of land at controlled prices to maintain sustainable balance in the Riyadh real estate market.
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