2015 SUMMARY JEDDAH & RIYADH... 9 RENTS SPIKE AS FREEHOLD PENETRATION DECLINES... 9 2015 SUMMARY DAMMAM & AL KHOBAR... 10 RIYADH RENTALS - APARTMENTS... 12 JEDDAH RENTALS - APARTMENTS... 14 DAMMAM & AL KHOBAR RENTALS - APARTMENTS... 16 JUBAIL & YANBU RENTALS - APARTMENTS... 18 RIYADH RENTALS - VILLAS... 19 JEDDAH RENTALS - VILLAS... 21 DAMMAM & AL KHOBAR RENTALS - VILLAS... 23 JUBAIL & YANBU RENTALS - VILLAS... 25 SAUDI APARTMENT RENTALS RIYADH NEIGHBOURHOOD COMPARISON... 26 1-BEDROOM... 26 2-BEDROOM... 27... 27 3-BEDROOM... 28... 28 SAUDI APARTMENT RENTALS JEDDAH NEIGHBOURHOOD COMPARISON... 29 1-BEDROOM... 29 2-BEDROOM... 30 3-BEDROOM... 31 SAUDI APARTMENT RENTALS DAMMAM & AL KHOBAR NEIGHBOURHOOD COMPARISON... 32 1-BEDROOM... 32 2-BEDROOM... 33 3-BEDROOM... 34 SAUDI VILLA RENTALS RIYADH NEIGHBOURHOOD COMPARISON... 35 2-BEDROOM... 35 3-BEDROOM... 36 4-BEDROOM... 37 SAUDI VILLA RENTALS JEDDAH NEIGHBOURHOOD COMPARISON... 38 3-BEDROOM... 38 4-BEDROOM... 39 5-BEDROOM... 40
SAUDI VILLA RENTALS DAMMAM & AL KHOBAR NEIGHBOURHOOD COMPARISON... 41 2-BEDROOM... 41 3-BEDROOM... 42 4-BEDROOM... 43 OVERVIEW... 45 COST OF EDUCATION - RIYADH... 47 COST OF EDUCATION RIYADH GRAPHICAL CURRICULUM COMPARISON... 48 COST OF EDUCATION - JEDDAH... 49 COST OF EDUCATION JEDDAH GRAPHICAL CURRICULUM COMPARISON... 50 COST OF EDUCATION - DAMMAM... 51 COST OF EDUCATION DAMMAM GRAPHICAL CURRICULUM COMPARISON... 52 COST OF EDUCATION KSA COMPARISON FOR CURRENT YEAR 2015/ 2016... 53 COST OF EDUCATION KSA COMPARISON FOR PREVIOUS YEAR 2014/ 2015... 54 COST OF EDUCATION Y-O-Y GRAPHICAL CURRICULUM COMPARISON FOR RIYADH, JEDDAH & DAMMAM... 55 2015/ 2016 SUMMARY OF EDUCATION IN SAUDI ARABIA... 56 HEALTHCARE SUMMARY 2015... 58 INSURANCE SECTOR ANALYSIS... 60 INSURANCE COSTS DOMESTIC & INTERNATIONAL PROVIDERS... 63 INSURANCE COSTS Y-O-Y CHANGES... 64 COST OF HEALTHCARE PREMIUM LEVEL... 65 COST OF HEALTHCARE MID-LEVEL HOSPITALS... 66 COST OF HEALTHCARE SPECIALIST CLINICS... 67 COST OF DENTISTRY... 68 HOUSEHOLD GOODS OVERVIEW... 70 A GROWING INDUSTRY... 71 THE RISE OF IMPORTS... 71 OTHER HOUSEHOLD ITEMS... 72 BY CITY... 72 THE HOUSEHOLD BASKET... 73 COST OF UTILITIES... 74 COST OF LAUNDRY, DRY CLEANING & POSTAL SERVICES... 75 COST OF BEACH CLUBS... 77 COST OF GOLF CLUBS... 78 COST OF DINING... 79
5-STAR HOTEL COSTS LOW & HIGH SEASON... 81 4-STAR HOTEL COSTS LOW & HIGH SEASON... 82 3-STAR HOTEL COSTS LOW & HIGH SEASON... 83 INTERNATIONAL HOTEL COSTS STARWOOD HOTELS INDEX... 84 CAR COSTS IN SAUDI ARABIA... 86 PUBLIC TRANSPORT COSTS IN SAUDI... 87 THE COST OF BUSES, TAXIS & PETROL... 88 GLOBAL COST OF TAXIS SAUDI COMPARISON... 89 THE COST OF AIR TRAVEL... 90 GLOBAL PUBLIC TRANSPORT COSTS THE METRO INDEX... 91 TRAFFIC FINES... 92 EASE OF DOING BUSINESS IN KSA... 94 THE TABLE BELOW SHOWS THE COST AND DESCRIPTION OF VARIOUS BUSINESS SETUP PROCEDURES IN SAUDI ARABIA. COST OF BUSINESS LICENSES & SERVICES... 96 COMMERCIAL PROPERTY OVERVIEW SAUDI... 98 COMMERCIAL PROPERTY RIYADH... 99 COMMERCIAL PROPERTY JEDDAH... 100 COMMERCIAL PROPERTY DAMMAM... 101 SAUDI COMMERCIAL RENTAL RATES... 102 SAUDI COMMERCIAL FREEHOLD... 103
JOB MARKET 2015 & 2016 SUMMARY... 105 GOVERNMENT JOB CUTS... 106 CONCERNS OF SAUDI S YOUTHS... 107 CHANGES IN POLICY... 108 SALARY ADJUSTMENTS SUMMARY FOR 2016... 110 FINANCE STAFF 2015/ 2016 SALARIES... 111 FINANCIAL SERVICES STAFF 2015/ 2016 SALARIES... 112 LEGAL STAFF 2015/ 2016 SALARIES... 113 HUMAN RESOURCES STAFF 2015/ 2016 SALARIES... 114 INFORMATION TECHNOLOGY STAFF 2015/ 2016 SALARIES... 115 ENGINEERING STAFF 2015/ 2016 SALARIES... 116 SUPPLY & LOGISTICS STAFF 2015/ 2016 SALARIES... 117 SALES & MARKETING STAFF 2015/ 2016 SALARIES... 118 MEDIA & PR STAFF 2015/ 2016 SALARIES... 119 RETAIL STAFF 2015/ 2016 SALARIES... 121 TOP-LEVEL MANAGEMENT 2015/ 2016 SALARIES... 122 BUSINESS SUPPORT STAFF 2015/ 2016 SALARIES... 123 INDUSTRY SPECIFIC - INSURANCE 2015/ 2016 SALARIES... 124 INDUSTRY SPECIFIC - OIL & GAS 2015/ 2016 SALARIES... 125
Riyadh Rentals - Apartments The tables below show the performance of various neighbourhoods, by property size, across Riyadh, for apartments. All figures are annual rental rates in Saudi Riyals (SAR): 1 Bedroom Annual Apartment Rental Cost Riyadh Name of Area Q4 2015 Min Max Average Muruj SAR 27,000 SAR 29,000 SAR 28,000 Al Nakhla Compound SAR 158,000 SAR 163,000 SAR 160,500 Bonita Village Compound SAR 98,000 SAR 105,000 SAR 101,500 Ishbilia Compound SAR 200,000 SAR 255,000 SAR 227,500 Central Riyadh SAR 45,000 SAR 65,000 SAR 55,000 Al Rabwah SAR 35,000 SAR 37,500 SAR 36,250 The Plaza Residence SAR 130,000 SAR 135,000 SAR 132,500 Seder Village SAR 60,000 SAR 63,000 SAR 61,500 Al Mulqa SAR 18,000 SAR 22,000 SAR 20,000
Riyadh Rentals - Villas The tables below show the performance of various neighbourhoods, by property size, across Riyadh, for villas. All figures are annual rental rates in Saudi Riyals (SAR): 2 bedroom Annual Villa Rental Cost Riyadh Name of Area Q4 2015 Min Max Average Al Yasmin Area SAR 54,000 SAR 69,000 SAR 61,500 Al Falah Area SAR 150,000 SAR 154,000 SAR 152,000 King Fahad Street SAR 115,000 SAR 120,000 SAR 117,500 Al Worod Area SAR 60,000 SAR 66,000 SAR 63,000 Al Nakhla Compound SAR 295,000 SAR 310,000 SAR 302,500 Bonita Village Compound SAR 185,000 SAR 195,000 SAR 190,000 Riyadh Village Compound SAR 135,000 SAR 141,000 SAR 138,000 Palm Estate Compound SAR 150,000 SAR 170,000 SAR 160,000 The Plaza Compound SAR 262,000 SAR 340,000 SAR 301,000 Al Manar Compound SAR 150,000 SAR 160,000 SAR 155,000
SAR 15,000 SAR 22,000 SAR 18,500 SAR 30,000 SAR 32,000 SAR 28,000 SAR 24,000 SAR 41,000 SAR 35,500 SAR 35,000 SAR 33,500 SAR 37,000 SAR 32,500 SAR 34,000 SAR 29,000 SAR 60,000 SAR 66,000 SAR 63,000 SAR 61,400 SAR 65,000 SAR 63,200 Saudi Apartment Rentals Jeddah Neighbourhood Comparison Below we analyse and compare the rental rates for various neighbourhoods for apartments, in and out of compounds across Jeddah: 1-Bedroom 2015 Average Annual Rent (SAR) Across 1 -Bed Apartments In Jeddah (Independent Housing) Q4 2015 Min Q4 2015 Max Q4 2015 Average A L R O W A I S A L H I L A L T O W E R S B A B J E D D A H A L B O H A Y R A A L S A M E R A L N A H D A A L A N D A L U S
Cost of Education - Jeddah Please see below for a comparison, by curriculum and age bracket, of the cost of education (annual school fees per child) throughout Jeddah. We have also included some of the peripheral costs for school transport, books and uniform, in order to give a fuller picture of the cost of education: Jeddah School Fees - Academic Year 2015/ 2016 Curriculum Lowest KG Highest Year 12 Average Fee IB SAR 39,900 SAR 76,800 SAR 58,350 Indian SAR 2,880 SAR 5,080 SAR 3,480 UK SAR 10,000 SAR 74,000 SAR 38,000 US SAR 16,200 SAR 62,476 SAR 39,338 Jeddah Peripheral School Costs - Academic Year 2015/ 2016 Curriculum Transport Books Uniforms IB N/a Usually included in fees SAR 290-350 Indian SAR 1,884-2,000 SAR 200-500 SAR 250-300 UK SAR 2,550-3,750 SAR 2,430-3,420 SAR 290-350 US SAR 3,900-4,000 SAR 425-3,420 SAR 160-350
Cost of Education Y-o-Y Graphical Curriculum Comparison for Riyadh, Jeddah & Dammam Please see below for a comparison of the cost of various educational curriculums, specifically for Kindergarten and Year 12 (median across Y12 & K has been used). Each graph shows average annual school fees in Saudi Riyals (SAR). We have also plotted the median across all four curricula (dotted black line), so our readers can see where each of the various curricula lie, in regards to the overall median schooling fees across the Kingdom: SAR 75,000 Y-o-Y Changes in the Cost of Schooling Across all Provinces by Cirriculum in Saudi Arabia SAR 65,000 SAR 55,000 SAR 45,000 SAR 35,000 SAR 25,000 SAR 32,775 SAR 39,723 SAR 15,000 SAR 5,000 AY 2014/2015 AY 2015/2016 IB Indian UK US Average Cost of Schooling
Insurance Sector Analysis As we ve mentioned, in Q4 2013, Saudi Arabia s Health Insurance Council (CCHI) announced that all private businesses must provide medical insurance for their foreign workers and families, and it was enforced the following year; last year. In addition, the Council declared that the maximum medical insurance coverage for an insured individual would be increased from SAR 250,000 to SAR 500,000, from July 2014 onwards. Healthcare market analysts speculated that this increase in maximum coverage would lead to a rise in premiums in the Kingdom. This has resulted in a direct increase in the cost of insuring employees for firms operating in Saudi Arabia: Y-o-Y % Change in Premium Rates Global Insurance 12% Local Insurance 26% Putting aside the rise in premiums directly attributed to the latest health insurance mandate, premiums were in fact rising anyway, even before the mandate was implemented, by 5 to 15% in 2014, due to inflation in medical care costs. In 2015, our data has shown an average increase in medical care costs of 16%, 23% and 10% across specialist clinics, middle level hospitals and international premium providers, respectively. In addition to the rise in medical care costs, local insurer premium rates have increased by 26% in 2015.
Cost of Healthcare Premium Level To illustrate whether the price of treatment in the KSA for both out and in-patient services has changed since our last report in December 2014, we have provided below a table that summarises the cost of various treatments by type; showing a 2-year comparison for each individual treatment at premium-level international hospitals: Medical Care - Cost per Treatment & Service International Premium Level Hospitals Q4 2014 (SAR) Q4 2015 (SAR) Consultations Annual % Change GP consultations - International certified hospitals SAR 300 SAR 366 22% Specialist consultations SAR 375 SAR 490 31% Overnight stay - Average private room SAR 938 SAR 1,016 8% MRI Scan - basic SAR 1,875 SAR 1,950 4% X-ray SAR 188 SAR 193 3% Diagnostics CT Scan Ultrasound SAR 938 SAR 950 1% Maternities Normal delivery (private room) SAR 9,375 SAR 13,000 39% Caesarean delivery (private room) SAR 15,000 SAR 17,000 13% Wellbeing and check- up package Routine Health Check-up SAR 563 SAR 700 24% Specialist Check-up e.g. Diabetes, Cardiac SAR 1,125 SAR 1,250 11% Executive Check-up SAR 2,438 SAR 2,560 5% Well woman Screening SAR 1,463 SAR 1,520 4%
TRAVEL AND TRANSPORT 5-Star Hotel Costs Low & High Season Here we compare the average cost of 5-star hotels in Saudi Arabia, including the Low Season and High Season prices in 2016. Low season is recorded on May 15 th 2016 and High Season on July 7 th 2016, marking the beginning of Eid-al-Fitr: Hotel Price Comparison in KSA (SAR per Night) 5 Star Hotels LOW SEASON - Single Adult Room 2015 (SAR) 2015 (USD) Annual % Change Riyadh SAR 1,238 USD 330 Will be reported in Jeddah SAR 1,350 USD 360 2016/ 2017 KSA Report Dammam SAR 495 USD 132 Hotel Price Comparison in KSA (SAR per Night) 5 Star Hotels HIGH SEASON - Single Adult Room 2015 (SAR) 2015 (USD) Annual % Change Riyadh SAR 1,556 USD 415 Jeddah SAR 1,688 USD 450 Dammam SAR 1,013 USD 270 Will be reported in 2016/ 2017 KSA Report
SAUDI RIYALS Saudi Commercial Rental Rates In the below table, we compare the rental price per square foot of commercial space in different areas of Saudi, showing three consecutive years, along with the percentage change from last year to Q4 2015: Annual Rental Prices of Office Space in Saudi Arabia (in SAR) Area Average Q4 2013 (psqf) Average Q4 2014 (psqf) Average Q4 2015 (psqf) Annual % Change Riyadh SAR 53 SAR 122 SAR 116-5% Jeddah SAR 38 SAR 58 SAR 64 10% Dammam SAR 32 SAR 55 SAR 51-7% Rental Price of Office Space in Saudi Arabia Q4 2014 vs Q4 2015 SAR 140 Average Q4 2014 (psqf) Average Q4 2015 (psqf) SAR 120 SAR 100 SAR 80 SAR 60 SAR 40 SAR 20 SAR 0 Riyadh Jeddah Dammam CITY
Financial Services Staff 2015/ 2016 Salaries Please see below for salary ranges within the finance area of expertise, based on company size & years of experience. The below figures are based on annual salaries in US$: Annual Salaries in KSA Q4 2015 - USD Per Annum Financial Services Roles Firm Size 0-2 Years of 2-5 Years of 5-7 Years of 7-9 Years of 10+ Years of Min Max Min Max Min Max Min Max Min Max Fund Management - Director S/M firms N/A N/A N/A 165,679 233,507 240,000+ Fund Management - Associate S/M firms N/A N/A 102,248 118,821 117,416 127,753 129,000+ Fund Management - Analyst S/M firms N/A 53,498 78,173 78,064 98,000 N/A N/A Director - Risk/ Credit Analysis S/M/L firms N/A N/A N/A 119,944 148,877 141,855 193,821 Manager - Risk/ Credit Analysis S/M /L firms N/A 63,708 100,477 91,012 127,416 N/A N/A Junior Risk/ Credit Analyst S/M/L firms 57,809 80,083 78,101 90,618 88,933 104,720 N/A N/A Director - Business Development S/M/L firms N/A N/A 58,000 72,800 66,000 80,200 N/A Manager - Business Development S/M/L firms N/A 45,406 51,000 55,406 67,180 N/A N/A Business Development Associate S/M/L firms N/A 28,768 35,000 31,400 42,000 N/A N/A
Information Technology Staff 2015/ 2016 Salaries Please see below for salary ranges within the information technology area of expertise, based on company size & years of experience. The below figures are based on annual salaries in US$: Annual Salaries in KSA Q4 2015 - USD Per Annum IT Roles Firm Size 0-2 Years of 2-5 Years of 5-7 Years of 7-9 Years of 10+ Years of Min Max Min Max Min Max Min Max Min Max IT Director S/M/L firms N/A N/A 88,778 131,457 131,318 211,268 197,185 266,467 IT Manager S/M/L firms N/A N/A 65,373 103,510 101,757 200,429 195,409 262,914 Programme Director S/M/L firms N/A N/A 63,053 101,509 105,600 142,050 173,916 242,890 Project Manager S/M/L firms N/A 25,920 64,468 64,254 94,012 93,604 122,986 122,575 131,457 Sales Manager S/M/L firms N/A 32,400 65,526 59,631 81,135 88,121 94,748 94,684 96,247 ERP Consultant S/M/L firms N/A N/A 26,954 47,853 46,286 70,866 69,281 78,164 SAP Consultant S/M/L firms N/A N/A 61,000 78,000 72,000 105,000 102,000+ Database Administrator (MYSQL) S/M/L firms 19,440 25,272 22,000 36,000 35,640 48,600 N/A N/A System Engineer/Network Engineer S/M/L firms N/A 17,399 37,810 36,992 73,690 120,204 + N/A Desktop Support S/M/L firms 10,659 23,804 23,729 44,925 N/A N/A N/A IT Business Analyst S/M/L firms N/A N/A 34,344 59,034 58,594 80,681 80,330 90,139 IT Sales/Account Manager S/M/L firms 19,738 30,911 58,320 90,265 N/A N/A N/A IT Business Development/Marketing S/M/L firms N/A 29,160 67,000 64,070 105,572 97,703 109,443 N/A Application Developer S/M/L firms 8,787 25,328 22,094 51,608 45,580 61,714 N/A N/A SharePoint Specialist S/M/L firms N/A 38,880 59,940 61,200 68,040 N/A N/A ORACLE Database Administrator S/M/L firms N/A 43,000 61,200 46,300 67,800 68,000 77,000 94,000+