Al Khair District: Riyadh’s Real Estate Hotspot

Why Is Al Khair District Attracting Real Estate Investors?

Al Khair District has become one of the most actively traded areas in Riyadh for buying and selling land. Strategically located between King Fahd Road (Qassim Road) and King Khalid Road (Salahbukh), its prime position makes it especially attractive. Since the beginning of urban expansion in northern Riyadh, Al Khair District has consistently been at the forefront of investor interest, viewed as a promising opportunity in the Saudi real estate market according to data from the General Authority for Real Estate and the National Real Estate Platform.

Price Per Square Meter Trends in Al Khair

Al Khair District was not an exception to the overall price increase in Riyadh. The price per square meter surged by over 900% since 2018, reaching SAR 1,350 by mid-2022. According to data from the General Authority for Real Estate, Q1 2022 recorded the highest quarterly growth rate at 39%, before it dropped to 2% in Q2.

These figures also show a 56% drop in transaction volume during Q2 2022, reflecting a fluctuation in activity levels in Al Khair driven by supply and demand dynamics.

According to the Aqar App platform, the average listing price per square meter rose by 2% in Q2 2022 compared to Q1. Notably, the average listing price was 14% higher than the official recorded sale prices.

Meanwhile, user engagement with listings dropped by 34%, and available listings declined by 33%, indicating a relatively sluggish market in Al Khair during this period.

User engagement decline with real estate listings on Aqar App

Al Khair District by the Numbers

Plan No. “3312/A” led the market in activity, with an average price of SAR 1,757 per square meter. Meanwhile, plan “3540” experienced a remarkable 1,191% increase in price since 2018, based on data from the Ministry of Justice.

Other plans within the district witnessed price increases ranging from 418% to 1,052%, highlighting the exceptional growth Al Khair has experienced in recent years.

Data Sources and Insights from Aqar App

The data in this report is sourced from Aqar App, which tracks user interactions and real estate activity since 2014. These insights are backed by the Ministry of Municipal, Rural Affairs, and Housing, and provide a deeper understanding of market trends and supply-demand behavior.

Real estate report on Al Khair Planning Area – download the full report here:

Frequently Asked Questions

• Where is Al Khair District located?
  It is located north of Riyadh between King Fahd Road and King Khalid Road.
• Are land prices in Al Khair always rising?
  Prices have increased significantly since 2018, but they are still subject to seasonal economic fluctuations.
• What are the most important plans within Al Khair?
  The most prominent plans are 3312/A, 3540, and 3312/B.
• Is Al Khair a good choice for real estate investment?
  Yes, due to its strategic location and price growth compared to other districts.
• Where can I get accurate data on Al Khair District?
  Through Aqar App, the General Authority for Real Estate, and the National Real Estate Platform.

Conclusion

Al Khair District stands out as one of the top real estate destinations in northern Riyadh, offering a strategic location and substantial price growth. The data and insights provided by Aqar App and official government entities offer investors and buyers a clear view of the market, helping them make informed decisions. For more real estate insights and updates, visit the Aqar Blog.