Riyadh city

Grade A workplace lease rates in Riyadh increased 2.9%in the12 months to the end of Q32021, according to a current report by Knight Frank.

” Inadvertently, companies from somewhere else in the Kingdom are likewise choosing to move to the capital, which is weakening workplace markets somewhere else in the nation,” the report provider stated.

Furthermore, the relentless flight to quality suggests Grade A and Grade B leas wandering more apart, highlighted by the reality Grade B workplace leas throughout Saudi Arabia fell by 1-3%over the last 12 months.

Knight Frank anticipates that need for Grade An office in Riyadh would grow even more, as an outcome of the Saudi federal government’s choice to stop contracting any foreign business that has a head office in the area, aside from in Saudi Arabia, beginning with 2024.