Off-plan property sales, lease rise 60% in 5 years: REGA

Sale and lease of properties off-plan in Saudi Arabia recorded an average annual growth rate of 60% over the past five years, Eqtisadiah reported, citing Spokesperson of Real Estate General Authority (REGA) Tayseer Al-Mufarrej.

This increase reflects the growing interest from developers and investors in developing real estate units using the off-plan sales and leasing system, he added.

He said REGA issued over 200 licenses related to off-plan sales and leasing in 2024, covering a range of projects that provided more than 104,000 real estate units in various regions of Saudi Arabia.