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April 25, 2021
MAKKAH Contrary to expectations, real estate movement recorded an unexpected recovery in Makkah Al-Mukarramah during the past year despite the negative impact on the markets due to COVID-19 pandemic, which confirms that Makkah is an investment destination for businessmen and investors.
According to the reports and indicators of the Ministry of Justice, the value of financial transactions for real estate deals increased during 2020 to approximately SR901.48 million, an increase of 4.31% over 2019, which amounted to SR864.24 million at that time.
The increase is approximately SR37.24 million in the value of transactions within one year. The number of real estate deals in Saudi Arabia last year was about 277,924 real estate deals, of which 9,333 deals was Makkah Al-Mukarramah’s share. The share of Makkah’s market equals 3.36% of total real estate deals executed in all regions of the Kingdom during the past year 2020.