Summary and analysis of Eastern Province's current real estate market conditions.
Insight
Eastern Province KSA Multi-Sector Market Dynamics, Q2 2024
Office demand in the Dammam Metropolitan Area (DMA) is primarily being driven by government-related entities, leading to an increase in average rents.
Residential development in the DMA is shifting towards inland locations, with Khobar witnessing the majority of activity. Average sale prices have remained stable, while rents have seen a modest annual increase.
The retail market in Dammam and Dhahran is focused on super regional and regional malls, while Khobar offers a unique retail experience centered around the corniche.