Riyadh shopping center occupancy 91%

The report highlights that the retail market in Saudi Arabia remains strong and grounded on solid fundamentals during the first half of 2026, with continued robust demand for commercial spaces in major urban areas. Riyadh experienced a 1.2% increase in the average rents for shopping centers, reaching 2,650 SAR per square meter, while occupancy rates remained stable at 91%. Jeddah maintained its resilience, with occupancy rising to 88%, and Dammam reached 94%, supported by ongoing demand for strategic locations. The restaurant sector and digital retail growth remain active, with e-commerce spending increasing by 42% and consumers shifting towards cashless payment methods. Demand for fashion products and luxury goods continues to persist. It is expected that lifestyle-based retail projects will expand significantly, with the market size projected to grow to 470 billion SAR by 2030. There will also be an increase in the number of destination centers that combine shopping, entertainment, and dining, with high occupancy rates exceeding 96%.

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