Saudi Arabia Office Real Estate Market Size Projected to Reach USD 37,573.8 Million by 2034 | CAGR is 6.75%

Saudi Arabia Office Real Estate Market Overview

Market Size in 2025: USD 20,874.6 Million
Market Forecast in 2034: USD 37,573.8 Million
Market Growth Rate 2026-2034: 6.75%

According to IMARC Group's latest research publication, "Saudi Arabia Office Real Estate Market Report by Property Type (High-rise Commercial Buildings, Business Parks, Mixed-use Developments, Coworking Spaces), Rental Model (Traditional Long-term Leases, Flexible Lease Arrangements, Coworking/Shared Office Spaces), Classification (Class A, Class B, Class C), and Region 2026-2034", the Saudi Arabia office real estate market size reached USD 20,874.6 Million in 2025. Looking forward, IMARC Group expects the market to reach USD 37,573.8 Million by 2034, exhibiting a growth rate (CAGR) of 6.75% during 2026-2034.

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How AI is Reshaping the Future of Saudi Arabia Office Real Estate Market

● AI analytics give investors sharp insights into tenant habits and occupancy, powering smarter choices in Riyadh's tight market where Grade A spaces hit 98% occupancy.​

● PropTech boom under REGA's push uses AI for energy savings and green buildings, aligning with Vision 2030's sustainability drive and boosting GDP by over 7% digitally.​

● ROSHN leverages AI for 3D modeling and fast construction, cutting timelines while mega-projects like NEOM assemble offices via digital twins for efficiency.​

● Smart building systems with IoT optimize operations in KSA offices, slashing costs and drawing tenants to tech-savvy spots amid Riyadh rents at SAR 2,700/sq m.​

● AI tools automate leasing and predict demand in Saudi's USD 0.86 billion PropTech market, helping SMEs snag flexible spaces in Vision 2030 accelerators.

How Vision 2030 is Transforming Saudi Arabia Office Real Estate Industry?

Vision 2030 is reshaping Saudi Arabia's office real estate market by driving economic diversification, nurturing new business sectors, and attracting multinational companies. Government-led initiatives to expand financial services, technology, and creative industries are increasing demand for modern, flexible office spaces. Major developments such as economic zones and smart city projects are fostering high-quality commercial infrastructure. Additionally, workplace digitalization, sustainability priorities, and hybrid work trends are influencing design preferences, prompting developers to deliver innovative, energy-efficient, and adaptable office environments.

Saudi Arabia Office Real Estate Market Trends & Drivers:

Saudi Arabia's office real estate market is booming thanks to Vision 2030's Regional Headquarters (RHQ) program, which has lured over 350 multinational firms like Amazon and Microsoft to set up shop with 30-year zero-tax perks and mandates for at least 15 senior staff per license. This corporate rush is tightening supply in premium spots, pushing Riyadh's Grade A rents to a record SAR 2,700 per square meter amid 98% occupancy rates, while Jeddah sees steady climbs to SAR 1,280. Mega-projects like the USD 50 billion New Murabba in Riyadh and Jeddah Central are spawning fresh business districts aligned with Expo 2030 and the 2034 FIFA World Cup, drawing tenants who need top-notch connectivity and talent pools nearby. These moves aren't just filling desks-they're reshaping skylines and locking in long-term leases that keep rents firm even as hybrid work evolves.​

A big shift comes from the surge in demand for Grade A offices packed with smart tech, sustainability features, and wellness perks, as firms chase LEED Platinum certifications like those in King Abdullah Financial District (KAFD), where 94 towers lead the pack. Riyadh grabs 51.1% of national demand, with Grade A spaces holding 47.9% market share and rents up 23% year-on-year, while developers retrofit older Grade B buildings to compete or risk them turning into something else entirely. The Saudi Building Code 2024 ramps up energy rules, widening the gap between high-end towers like Forbes International Tower aiming for Zero Carbon status and the rest. Tenants love the IoT systems and clean energy splits between hydrogen and solar, making these spaces magnets for ESG-focused global players expanding under diversification goals.​

Flexible workspaces and coworking spots are exploding as SMEs hit 1.24 million and Vision 2030 licenses 273 accelerators-triple the pre-2020 count-with hubs like Jada30 backing 245 enterprises and 60,000 users. Hybrid work habits have companies ditching rigid leases for collaborative setups that cut costs and boost teamwork, fueling a coworking market valued at USD 0.6 billion. Riyadh adds 326,600 sq m of leasable area to match this, with 888,600 sq m more in the pipeline, while Jeddah's Gate project readies 230,000 sq m through 2028. Financial services, tech, and consulting firms lead leasing, with credit growth to USD 827.2 billion and fintechs thriving under sandbox rules, turning these spots into real business launchpads.

Buy the Latest 2026 Edition: https://www.imarcgroup.com/checkout?id=13995&method=1315

Saudi Arabia Office Real Estate Industry Segmentation:

The report has segmented the market into the following categories:

Property Type Insights:

● High-rise Commercial Buildings
● Business Parks
● Mixed-use Developments
● Coworking Spaces

Rental Model Insights:

● Traditional Long-term Leases
● Flexible Lease Arrangements
● Coworking/Shared Office Spaces

Classification Insights:

● Class A
● Class B
● Class C

Regional Insights:

● Northern And Central Region
● Western Region
● Eastern Region
● Southern Region

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Recent News and Developments in Saudi Arabia Office Real Estate Market

● December 2025: Knight Frank reports Riyadh leads GCC with soaring Grade-A rents as occupiers snap up ESG-compliant prime offices amid undersupply.​

● November 2025: Riyadh office rents surge 15% with 98% occupancy, fueled by 34 new RHQ licenses totaling 634, drawing multinationals to premium spaces.​

● September 2025: Five-year Riyadh rent freeze stabilizes costs alongside white land tax reforms, spurring development on 411 million sqm of idle land.

Note: If you require specific details, data, or insights that are not currently included in the scope of this report, we are happy to accommodate your request. As part of our customization service, we will gather and provide the additional information you need, tailored to your specific requirements. Please let us know your exact needs, and we will ensure the report is updated accordingly to meet your expectations.

About Us:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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