Riyadh's warehouse rents rise 20pc
Tuesday, 24 October 2023
RIYADH, Oct 23 (Arab News): Warehouse rents in Riyadh rose by 20 per cent in the first half as the city accommodated the growing demand for specialized stockrooms thanks to the e-commerce boom, according to Knight Frank.
The London-based real estate consultancy revealed that warehouse rents in the Kingdom remained upward as they climbed 15 per cent in Jeddah and 20 per cent in Riyadh over the last 12 months.
Average rents for warehouses in Riyadh in the first half stood at SR190 ($50.65) per sq. meter, with Logistics Park touching SR280 per sq. meter.