The General Authority for Statistics (GASTAT) released the Real Estate Price Index for Q3 2024, which reached 2.6% compared to the same quarter of the previous year, following the updated methodology for calculating the Real Estate Price Index in the Kingdom.
GASTAT clarified that the updated methodology for calculating the index will contribute to providing more comprehensive and high-quality data, supporting efforts to develop the real estate sector, and aligning with best statistical practices used in international benchmarks.
In this context, GASTAT attributed the change in the Real Estate Price Index for Q3 2024 to a 1.6% increase in residential property prices. Year-on-year, residential land prices increased by 1.6%, while apartment prices rose by 1.9%, and villa prices grew by 1.5%. In contrast, commercial property prices saw a significant rise of 6.4%, primarily due to a 6.3% increase in commercial land prices. Among various commercial properties, building prices climbed by 8.6%, while exhibition prices fell by 1.1%. On the other hand, the agricultural sector, particularly agricultural land, experienced a decline of 8.7%.
It is worth noting that the Real Estate Price Index Publication is a statistical tool to measure the relative change in real estate prices in Saudi Arabia. It results from electronic registration and documentation processes carried out by the Ministry of Justice, encompassing various variables in real estate transactions, including value, location, area, sector, and property type.

Under the patronage of His Excellency Majid bin Abdullah Alhoqail, Minister of Municipal and Housing Affairs, Dr. Fahad bin Abdullah Aldossari, President of the General Authority for Statistics, participated in a panel discussion titled "The Future of Real Estate: Advanced Management and Data Analysis." This session was held as part of the Global PropTech Summit in the capital, Riyadh, with the presence of a distinguished group of industry experts, investors, real estate developers, and leading global technology companies.
During his participation, Aldossari explained the role of the General Authority for Statistics in developing and enabling digital transformation, which has contributed to diversifying data sources to ensure the quality of statistical products and the comprehensiveness of indicators. These data sources include statistical surveys (field, telephone, and online), the utilization of administrative records, and other data sources such as satellite imagery and geospatial data. This approach has improved the efficiency of statistical operations and contributed to the quicker and more accurate production of high-quality statistical products.
In this context, Aldossari noted that through continuous planning and organizational development, we have successfully improved performance in the development of statistical products and indicators. He emphasized the importance of identifying needs and opportunities within the private sector related to statistical information and data. Furthermore, he highlighted the significance of collaborative efforts between GASTAT and private sector partners, which positively influences the success of joint initiatives. This collaboration supports the ongoing development and transformation of the General Authority for Statistics and takes advantage of advanced statistical programs and products that enhance commercial and investment opportunities in various sectors.
He added that in recent years, the scope of statistical work has expanded significantly, and the statistics sector in the Kingdom has undergone substantial transformations. This has been achieved through initiatives and statistical projects led by the General Authority for Statistics, aimed at producing statistical data and indicators. Additionally, there has been a continuous effort to integrate various data sources using the best data management and governance infrastructures, along with ongoing improvements in mechanisms for sharing statistical data.
It is worth noting that the Global PropTech Summit will take place over two days, October 27-28, 2024. This event serves as an innovative meeting point between technology and the real estate sector, with its themes closely aligned with Saudi Vision 2030 and its objectives related to the development of the real estate sector. The summit emphasizes the importance of establishing the Kingdom of Saudi Arabia as a leading center for modern real estate technology practices by adopting innovative activities in digital fields, data analysis, and virtual technologies for the future of the real estate sector.

The General Authority for Statistics announced today that the value of non-oil exports (including re-exports) during August 2024 reached 27.5 billion SAR, compared to 25.6 billion SAR in August 2023, marking an increase of 1.9 billion SAR, or 7.4%, according to the results of the international trade publication for August 2024.

The value of oil exports during August 2024 amounted to 65.3 billion SAR, compared to 77.3 billion SAR in August 2023, representing a decrease of 12.0 billion SAR, or 15.5%.

The results of the publication also showed a decline in merchandise exports during August 2024, which totaled 92.8 billion SAR, compared to 102.9 billion SAR in August 2023, a decrease of 10.1 billion SAR, or 9.8%.

Meanwhile, the value of merchandise imports of the Kingdom during August 2024 was 64.8 billion SAR, compared to 67.4 billion SAR in August 2023, reflecting a decrease of 2.6 billion SAR, or 3.9%.

Dr. Fahad Aldossari, the President of the General Authority for Statistics, met with Mr. Mohammed Ali Al Qaed, the CEO of the eGovernment Authority (eGA) in Bahrain, in the capital, Manama, to discuss ways to enhance joint efforts in the statistical sector and opportunities for developing cooperation in statistical data.

During the meeting, both sides reviewed the latest developments in statistical work in both countries, as well as the developmental efforts concerning the approved and updated methodologies for statistical products. This includes administrative records and the development and innovation of statistical products that contribute to supporting the development plans in both countries. Additionally, they discussed the mechanism for agreeing on the exchange of expertise in the areas of technical infrastructure of both authorities and several related topics in statistical work.

This meeting is part of a series of international meetings and visits aimed at building bridges of cooperation with statistical offices in the region, focusing on exchanging expertise, sharing experiences, and informing counterpart entities about the progress being made in the statistical sector in the Kingdom of Saudi Arabia.

The 49th meeting of the Board of Trustees of the Arab Institute for Training and Research in Statistics (AITRS) was inaugurated in Manama, chaired by Dr. Fahad Aldossari, the President of the General Authority for Statistics and Chair of the previous meeting of the Board, over a two-day period from October 21 to 22, 2024, with the presence of their excellencies and members of the Board representing the member states.
Dr. Fahad Aldossari expressed, on behalf of the Board members, his sincere gratitude and appreciation to the Kingdom of Bahrain for hosting the 49th meeting. He commended the excellent organization and hospitality by the Information and eGovernment Authority (IGA) in the Kingdom of Bahrain, praising the efforts made by the Board members over the past year to implement the Institute's plan in its areas of specialization, which support the statistical offices in the member states and meet their needs in enhancing the capacity and efficiency of human resources. He emphasized the vital role played by the Institute in achieving cooperation among the member states.
Subsequently, Dr. Fahad Aldossari expressed his thanks and appreciation to the member states for the significant cooperation that the General Authority for Statistics received during its presidency of the 48th meeting, wishing the Republic of Tunisia, represented by the National Institute of Statistics, success in chairing the current 49th meeting of the Board of Trustees of the Arab Institute for Training and Research in Statistics (AITRS).

Dr. Fahad Aldossari, the President of the General Authority for Statistics, met with Mrs. Zehra Zümrüt Selçuk, Director General of (SESRIC) during his visit to the Republic of Turkey. The meeting focused on ways to enhance joint work in the field of statistics and to promote the exchange of expertise between the two parties.

It is noteworthy that this meeting took place on the sidelines of the13th Session of the OIC Statistical Commission (SESRIC), hosted in the Turkish capital, Ankara, with the participation of member states of the Organization of Islamic Cooperation. Several officials from both sides attended the meeting.

Dr. Fahad Aldossari, the President of the General Authority for Statistics, met with Mr. Erhan Çetinkaya, President of the Turkish Statistical Institute (TurkStat), in Turkish capital, Ankara. This meeting took place on the sidelines of the 13th Session of the OIC Statistical Commission (SESRIC). During the meeting, they discussed the progress being made in statistical work in both countries and highlighted the key statistical products that are being developed and issued.

In this context, Dr. Fahad Aldossari welcomed the constructive cooperation between the two sides to exchange experiences, transfer knowledge, and enhance joint efforts. Several officials from both sides attended the meeting.

This meeting is part of a series of international meetings and visits with the goal of fostering cooperative relationships to exchange experiences, share best practices, and inform counterpart organizations about the advancements in the statistical sector in the Kingdom of Saudi Arabia.

President of the General Authority for Statistics (GASTAT) Dr. Fahad Aldossari  led GASTAT’s delegation participating in the 13th session of the Organization of Islamic Cooperation (OIC) Statistical Commission, (OIC-Stat), in Ankara, Turkey, on October 15 and 16, 2024. This session brought together heads of official statistical centers from OIC member states to exchange experience, discuss best practices, and enhance statistical capabilities within the organization. while guided by specific goals and principles to strengthen the spirit of solidarity and cooperation among Islamic countries.

Participants in the meetings discussed the follow-up on the implementation of the OIC Statistical Commission 2021-2025 work plan, along with other topics included in the current session's agenda. These topics included reviewing indicators related to the second goal of the Global Sustainable Development Goals and the role of official statistical agencies and offices in Islamic countries in supporting development plans in member states and enhancing the exchange of experiences among them.

It is noteworthy that the Kingdom of Saudi Arabia hosted the 12th session of the Organization of Islamic Cooperation Statistical Commission (OIC-StatCom) last year, which took place in Jeddah over two days (October 3 and 4, 2023). Heads of official statistical centers from OIC member states participated in discussions. This was the first time that the committee's meetings were held outside the headquarters country (Turkey), reflecting the Kingdom’s international status and its Arab and Islamic position, and affirming its keenness to enhance communication and joint work among Islamic countries in all fields.

His Excellency Dr. Fahad Aldossari, President of the General Authority for Statistics (GASTAT), held a virtual meeting with Ms. Haishan Fu, Chief Statistician of the World Bank, aimed at enhancing partnership and cooperation between the two sides. During the meeting, they reviewed GASTAT's directions towards developing statistical products and discussed international statistical reports issued by the World Bank, as well as ways to strengthen cooperation in various statistical fields. Dr. Fahad Aldossari expressed his gratitude to Ms. Haishan Fu for her commendation of the remarkable progress in statistical work at the national level. He added that exchanging data and statistical indicators with international organizations is one of the strategic pathways within GASTAT's responsibilities, including providing international organizations with statistical data and indicators related to the Kingdom of Saudi Arabia. It is worth noting that the World Bank possesses a lot of global development knowledge and expertise and provides many technical assistance programs to most countries of the world in areas in which the Bank has extensive global technical expertise.