Estate agents have estimated the value of property damaged by November’s floods in east Jeddah at more than SR100 million ($26m).

They said property prices had dropped dramatically in areas worst hit by the disaster and many people were considering selling up.

Residents of the eastern Al-Harazat district are considering selling their homes and moving elsewhere to protect their lives and investments, they said in comments published by Arab News on Monday.

arabianbusiness.com