110 billion real estate contribution to Saudi GDP

110 billion real estate contribution to Saudi GDP
110 billion real estate contribution to Saudi GDP

Real estate activities contributed about 110.118 billion riyals, or 7.64% of the GDP at current prices in the first half of this year, which amounted to 1.4 trillion riyals, including 54 billion contributions from the sector in the second quarter.Annual increase

Monitoring “Al-Watan” based on the data of the General Authority for Statistics showed a growth in the contribution of the real estate sector by 4.72% on an annual basis, equivalent to 4.962 billion riyals, compared to the same half of last year, and the contribution of real estate activities in the corresponding period of 2020 amounted to about 105.156 billion riyals.

Quarterly growth

On a quarterly basis, the contribution of real estate activities to the national economy increased at the end of the second quarter of this year and amounted to 54,122 billion riyals, an increase equivalent to 3.21 billion, compared to 51 billion at the end of the same quarter of 2020. During the second quarter, the contribution of real estate declined compared to the first quarter of 2021, which reached about 55,996 billion riyals.

government services

Government services topped the contributions of the various sectors to the GDP in the first half by about 283.967 billion riyals, compared to about 284.410 billion riyals in the same period last year. The contribution of the wholesale and retail trade, restaurants and hotels sector amounted to 152.700 billion riyals.

real estate sector output

2021

Gross domestic product in the first quarter 706,410

GDP in the second quarter 735,034

First half 1441.444 billion riyals

real estate activities

First Quarter 55,996

Second Quarter 54,122

First half 110.118

2020

GDP in the first quarter 695,570

GDP in the second quarter 564,211

real estate activities

First Quarter 54,156

Second Quarter 51,000

First half 105.156 billion

Contributions of economic activities in the first half

Agriculture, Forestry and Fishing 36822

Mining and quarrying 333.992

Manufacturing 208.444

Wholesale and retail trade, restaurants and hotels 152.700

Government services 283.967 billion riyals

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