The Real Estate General Authority plans to launch a property index by the second quarter of 2019, Al-Eqtisadiah reported, citing governor Essam Al-Mubarak.
The move will be in partnership of a committee representing the housing, justice and municipality ministries, as well as the Real Estate General Authority and the General Authority for Statistics (GASTAT), he said.
The tested index will be launched in Riyadh, Jeddah, Dammam and Makkah, he said, adding that the portal will include the average price per meter, the number of deals, difference rate and average deal price.
The Kingdom’s properties were valued at SAR 5 trillion in 2018, said Soltan AlJorais, secretary general of the Saudi Authority for Accredited Valuers (Taqeem).
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