19 Hrs
Source:
الاقتصادية
Riyadh Raw Land Sale for 1.7B SAR
Based on recent sales in the Riyadh real estate market, a raw land plot on King Salman Road covering 982,000 square meters was sold just now for a total value of 1.69 billion riyals, at a price of 1,600 riyals per square meter. This sale reflects a decline in residential land prices in North Riyadh by up to 50% compared to prices two years ago, as a result of the implementation of real estate balance policies aimed at correcting the housing market and making homeownership more accessible to citizens. It is expected that the immediate development of these lands into residential sites will increase the housing supply and motivate developers to accelerate their housing projects, thereby supporting Saudi Vision 2030’s efforts to achieve a balance between supply and demand in the real estate market.
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