Raw lands north of Riyadh surpass 1,000 riyals
Land prices in North Riyadh have declined, dropping below the 1,000 riyals per square meter threshold. A raw plot of land in Al ‘Arid neighborhood was sold for 885 riyals per square meter, part of the Saudi government's efforts to achieve greater balance in the real estate market. This follows a previous auction where the land was offered at 1,310 riyals per square meter but was not sold. These measures are aligned with balancing policies aimed at controlling price increases, stimulating construction activity, and increasing the supply of residential units. The goal is to provide affordable housing options for citizens while also benefiting developers and landowners. These steps are part of Crown Prince’s initiatives to ensure the sustainability of the real estate sector and reduce social disparities related to land prices and rents in Riyadh.
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