24 Hrs
Source:
الاقتصادية
Riyadh retail centers 91% occupied
The retail market in Saudi Arabia during the first half of 2026 demonstrates strong stability, with demand remaining high and the market maintaining its core fundamentals. Shopping malls in Riyadh recorded a 1.2% increase in rents, reaching 2,650 Riyals per square meter, while occupancy rates remained steady at 91%. Similarly, the Jeddah and Dammam areas showed resilience, with occupancy rates rising to 88% and 94%, respectively, supported by ongoing demand for strategic locations. Despite an expansion in supply—approximately 4.2 million square meters in Riyadh, 3 million in Jeddah, and 1.4 million in Dammam—there has been no significant decline in occupancy levels. In the food and beverage sector, growth continued, with increased demand for health-conscious concepts, fast services, and casual experiences. This is further reinforced by a nationwide shift toward cashless payments, with e-commerce sales rising by 42% to reach 98 billion Riyals. Consumer spending remains robust despite regional challenges. Overall, the data confirm that the Saudi retail market shows resilience and potential for expansion, supported by flexible spending habits, diverse offerings, and developments centered around life experiences, even amid economic and geopolitical uncertainties.
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