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Riyadh supply of prime space grows

Posted on 23 March 2012

The ‘Local Class A’ office market in Riyadh is increasingly being dominated by increasing levels of oversupply and moderate levels of demand, while there remains strong demand and a shortage of supply in the two ‘International Class A’ properties - Kingdom Tower and Faisaliah, CBRE Bahrain Research Team said in its KSA MarketView.
There is a marked separation in pricing and occupancy rates between these two groups, with Riyadh’s two ‘iconic’ office projects enjoying full occupancy with waiting lists and rental rates at over SR2,000/sqm/pa, while Local Class A rates typically hover at between SR1,200 and SR1,400/sqm/pa……………………………………….Full Article: Source


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