Furnished apartments are emerging as a sunrise industry as new accommodation facilities are undergoing finishing touches while others are being constructed, according to a housing expert.

“Furnished apartments have made a niche market. This is because of tourists and transient visitors seeking accommodation for a few days at competitive rates,” said the expert who’s involved in the construction industry.

A room with a single bed and a bathroom starts from SR150 to SR200.

At present, furnished apartments are enjoying high occupancy rates, with some of them fully booked.

The expert noted that furnished apartments are also currently being constructed in various districts of Riyadh, such as Al-Dubat area, just off the Old Airport Road. “They include flats with a single or two bedrooms with bathrooms. There are also rooms for the whole family interested in paying less for more, so to speak,” he said.

He noted that in addition to the existing furnished apartments, there are also multistory housing accommodation buildings being constructed, and these are being said to be rented out for transient visitors to the city. “These are located in Malaz and Al-Sulaimania districts,” he said.

This industry will further grow as the population increases and develops the habit of traveling locally for holidays or for short vacations with their families, he said.

Last year, the Kingdom’s population was estimated at 20.7 million, with 9 million additional foreigners.

“Traveling is a way of life. It expands one’s horizons and for this reason, Saudis, as well as expatriates, travel, particularly because they have disposable incomes as a result of a vibrant economy,” he said.

He added that they travel locally not only because it is cheaper but also because of the tourism programs and facilities that have been developed by the Saudi Commission for Tourism and Antiquities (SCTA).