Riyadh tops Saudi Arabia's rental index during March

 According to Eger's monthly report, Riyadh topped the Rental Index report for Saudi Arabia for the second month in a row, accounting for more than 31% of total registered rental deals.

According to Arab News, Jeddah is in second place with 19% more. It is followed by Dammam at 6%, Mecca at 4%, Medina and Al-Khabar at 3%.

The deals were based on residential and commercial lease agreements that were completed during March and were recorded in the Rental Database, which was distributed among the cities included in the Rental Index.

The Rental Index aims to facilitate transparency in the rental market in the country by setting specific indicators for both cities, neighborhoods, residential and commercial real estate.

The service uses interactive maps as well as a 'rental indicator' to enable beneficiaries to find the appropriate options for their needs and which can be accessed through the Sakni program platform.

It may be recalled that the Saudi Ministry of Housing's Sakni Program had signed four agreements with various agencies during the Sakni Forum held in Riyadh in the first quarter of 2021.

According to the Saudi news agency SPA, the agreements are aimed at providing homeless families with their own homes and making it easier for Saudi families to own their own homes. Thus, the goals of Vision 2030 can be achieved by increasing home ownership by 70% by 2030.

The Sakni Program of the Saudi Ministry of Housing awarded certificates of appreciation to a number of partners, including financiers, developers and contractors, for their efforts over the last period and their contribution to achieving the program's goals. Minister for Housing Majid Al-Haqeel attended the event.

These agreements will be implemented in partnership with the Zonji sector, which includes partnering with a national construction company to provide model engineering designs for beneficiaries of the self-construction option through the SKNI platform.