Office Market in Saudi Arabia
Office rents continue to be under pressure in Saudi Arabia this year due to declining demand for the occupier and a slow economy. While the kingdom recorded a boom in economic growth in 2018 due to improved oil prices, the decline in late 2017 is still in the office rental market, according to research published by real estate consultancy Knight Frank. Cities and major commercial centers in Saudi Arabia continue to suffer from the lack of high quality stocks sought by private and public companies. Class B rents have eased to a lower and more prominent degree, with potential tenants being delayed due to issues such as poor access or lack of parking.