Al-Hammad: Real Estate Sector Operations in the Eastern Region Reach SAR 36 Billion by End of Q3 2023

الحماد: عمليات قطاع العقار في المنطقة الشرقية تبلغ 36 مليار ريال بنهاية الربع الثالث من عام 2023م

Engineer Abdullah bin Saud Al-Hammad, CEO of the Real Estate General Authority (REGA), stated at the Eastern Restatex Real Estate Exhibition 2023 that real estate sector operations in the Eastern Region reached approximately SAR 36 billion by the end of Q3 2023, with around 28,000 real estate transactions (45% commercial, 39% residential), an increase of over 5% versus the same period last year. The region recorded licensing of more than 3,785 real estate brokers, and more than 120 licensed off-plan sale and lease (WAFI) projects totaling 32,000 units. Lease contracts documented in the region surpassed 1.2 million, representing 16% of contracts documented across the Kingdom's cities, with more than 1,200 real estate entities approved within owners' association unions and approximately 40,000 subdivided units.

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