The rents of office space are still under pressure in Saudi Arabia this year due to the decline in the demand of the occupier and a slow economy. While the kingdom recorded a surge in economic growth in 2018 due to improved oil prices, the drop in late 2017 still runs in the leasing market for office space, according to research published by the real estate consultancy company Knight Frank. The main cities and commercial centers in the Kingdom of Saudi Arabia continue to suffer from the lack of high-quality equities sought by private and public companies. Class B rents have been reduced to an increasingly high degree, with prospective tenants being delayed due to issues such as poor accessibility or limited parking. The demand could recover in the long run as reforms under the National Transition Plan and Vision 2030 of the government began to feed the economy, the report said. Economic growth is expected to reach 2.2% this year and 2.3% in 2019, according to International Monetary Fund (IMF) estimates. The report found that the demand in the capital Riyadh is still a level, with only a few first-class properties such as the Kingdom Tower, Al Faisaliah Tower and the business portal maintaining high occupancy levels. King Abdullah of the financial district is scheduled to deliver the second phase inventory after 2021, which is expected to enhance the supply of the quality area. The average salary for the first-class sports quarter was 1,550 Saudi riyals per square metre per annum, while the class rents amounted to SR 775 per square metre. The tenants in Jeddah are also waiting for a new supply of high-end office space, with the planned Jeddah Gate project from Emaar, a Dubai-based company, which is set to provide about 230,000 square meters of top-quality office space in a mixed area. Use the environment. First-class rents in the Red Sea city declined by 4% on an annual basis, and second-class rents fell by 13%.