Riyadh tops Saudi Arabia's Rent Index in February

Riyadh city

Saudi Arabia issued its first report for the Rent Index for February 2022, based on the rent contracts documented in the Ejar e-network.

In a statement, the Ministry of Municipal and Rural Affairs and Housing said Riyadh topped the Rent Index in terms of rent deals, dominating more than 32% of the 146,000 total rent deals recorded with Ejar e-network in February. Jeddah came second with 25%, followed by Makkah and Dammam with 6% each. Medina and Al Khobar constituted 5% and 4%, respectively, of the total deals.

Majed Al Hogail, Minister of Municipal and Rural Affairs and Housing, recently rolled out the Rent Index for major cities in the Kingdom, Argaam earlier reported.

The new index seeks to help tenants and decision makers get detailed information on the level of all neighborhoods in major cities at first stage.