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TAQA Q1 net income $571m

Net income fell $2.58bn due to one-off items recognized in 2023.

QatarEnergy buys stake in Egypt blocks

It did not disclose the cost of the agreement.

TSMC’s April revenue up 60%

It capitalized on huge wave of demand for chips used in AI hardware.

Etihad reports record Q1 profit

Total revenue increased by $269 million in the same period.

Aramco Q1 profit down 14.5%

Despite lower profit, it will pay $31bn in dividends to Saudi government.

Major Saudi Arabian cities witness strong demand for residential, office real estate

  • Rents and prices for residential real estate in Riyadh and other major cities such as Jeddah is growing, according to JLL.
  • The Saudi real estate market is expected to register a CAGR of more than 9.74 percent during 2022 - 2027, according to Mordor Intelligence.

Riyadh—Saudi Arabia continues to fuel its ambitious target to make Riyadh one of the tenth largest cities in the world by 2030. The demand for residential properties in the city remains strong and it is expected to continue to strengthen in the longer term, according to Thierry Delvaux, CEO Middle East, Africa and Turkey at global real estate services firm Jones Lang LaSalle. He told Arab News recently that the real estate is reviving and the demand for the demand for office real estate is rising because there has been a comeback from firms that planned to open new offices. TRENDS takes a look at some key real estate indicators in the kingdom’s major cities.