Real Estate

The real estate sector in Saudi Arabia has experienced a remarkable upsurge since the onset of 2024, amassing over 280,000 property deals valued at more than SAR636 billion ($169.5 billion), and encompassing a combined space exceeding two billion square meters. This impressive performance has led to the sector accounting for 5.9 percent of Saudi Arabia's GDP in the last quarter...

In a stunning display of creativity and collaboration, the ROSHN Waterfront has introduced a visually striking mural, spanning its entire walkway, which measures an impressive 16,000 square meters. The artwork, a result of the combined efforts of local artists and volunteers, encapsulates the essence of Jeddah's vibrant culture and the distinctive characteristics of ROSHN. The initiative to beautify the waterfront...

In the first quarter of 2024, the portfolios of real estate loans provided by Saudi banks exhibited significant growth, reaching SR800.5 billion, which is a 13 percent increase year-on-year according to data from the Saudi Central Bank (SAMA). Retail loans dominated this sector, accounting for 78 percent, while corporate loans comprised the remaining 22 percent.Individual loan growth was reported at...

In Saudi Arabia, particularly in the bustling city of Riyadh, a significant number of property owners are revitalizing their assets to capitalize on the burgeoning property market, according to industry experts.These enhancements and updates to properties are resulting in substantial increases in rental income, with a potential rise of 25 to 50 percent in areas that have seen stagnant market...

"ARABIAN ALESAAR," a prominent Saudi Arabian real estate investment firm, is gearing up to unveil its grand development, "AlShubaily Town," situated in Al-Khobar, Eastern Province, with plans set for the first quarter of 2025.Spanning 900,000 square meters, the project's blueprint features a mix of residential, commercial, and leisure facilities, including eateries and the Middle East's most expansive man-made canal."AlShubaily Town"...

The Board of Directors of NEOM has revealed the much-anticipated plans for Jaumur, poised to be the grandest cosmopolitan luxury community along the Gulf of Aqaba's shoreline. Crafted to embody the pinnacle of future living and dynamic lifestyles, this development is set to enhance the region's allure in the northwest of Saudi Arabia. Jaumur boasts an exceptional residential enclave, meticulously...

ROSHN Group has announced the inauguration of their latest project, ALMANAR, which represents both their fifth integrated mixed-use development and their inaugural undertaking in the city of Makkah. The initial segment of ALMANAR is set to offer 4,149 residential units capable of accommodating upwards of 17,000 residents, all spanning a vast 2.5 million square meter area. Strategically positioned at the...

The real estate domain in Saudi Arabia is experiencing an unprecedented surge, aligned with the nation's ambitious Vision 2030 reforms, which are revolutionizing the economy. A forthcoming comprehensive study, brought forth by Quality Media Press, is set to delve into the massive housing expansion, the rise of colossal projects like NEOM, and the sector's boost from substantial government investments.Launched by...

In a significant display of Saudi Arabia's commitment to urban progress, ROSHN Group, the nation's preeminent property developer backed by the Public Investment Fund (PIF), took the stage at the International Real Estate Professional Marketplace (MIPIM) in Cannes, France. As part of the 'Invest Saudi' pavilion, ROSHN represented the kingdom as a member of the most substantial Saudi contingent to...

The real estate sector in Saudi Arabia is on the verge of a significant upturn as a survey reveals that high-net-worth individuals (HNWIs) from the Muslim community are looking to pour approximately $2 billion into properties in the sacred cities of Makkah and Madinah.A renowned global property consultancy's recent research, featured in their inaugural 'Destination Saudi' report, highlighted the intense...

The NEOM Board of Directors has recently declared the launch of Gidori, a new private golfing enclave that is poised to redefine luxury living in the heart of northwest Saudi Arabia. Nestled within the stunning hillscapes bordering the Gulf of Aqaba, this secluded community promises an unparalleled lifestyle infused with opulence and recreation. Gidori stands out with its majestic architecture...

In a landmark development signaling a transformative shift in urban lifestyles, Rafal Real Estate Development Company has joined forces with Dubai-based HIVE, a purveyor of pioneering living solutions, to make inroads into the Saudi Arabian market.A ceremonial event marked the initiation of their first venture on King Salman Road in Riyadh. This initiative is set to spearhead a wave of...

In a significant move to enhance Riyadh's housing landscape, the National Housing Company (NHC) has joined forces with Talaat Moustafa Group—Saudi Arabia (TMG) to announce the commencement of the Banan City Project. This initiative was set in motion under the auspices of Majid bin Abdullah Al-Hagail, the Minister of Municipal and Rural Affairs and Housing. The inauguration ceremony was graced...

ROSHN Group has unveiled the latest expansion of its esteemed SEDRA project with an announcement of a fresh phase introducing 4,860 new residential units. Spanning over 1.9 million square meters, the development will be progressively brought to market, with the initial offering encompassing 1,254 units ready for acquisition. David Grover, the Chief Executive Officer of ROSHN Group, expressed his enthusiasm...

The property landscape in Saudi Arabia is experiencing a significant upswing, with a 15 percent year-on-year increase in the documentation of lease contracts, hitting an unprecedented high of 59,575 in the month of January.The nation's Real Estate General Authority has reported this peak as the most substantial monthly volume of commercial agreements recorded, propelling the cumulative total to over 1.5...

The Saudi Arabian property landscape has seen modest growth, as indicated by a 0.7 percent increase in the real estate price index for 2023, primarily fueled by gains in the residential market, according to official statistics.Residential property prices rose by 1.1 percent over the previous year, with land plot costs climbing by 1.2 percent. Furthermore, the price of apartments ascended...

The Saudi capital is grappling with a significant real estate shortage, particularly in the housing market, as the demand for residences surpasses the rate at which new properties are being developed. This deficit is intensifying rental costs and is anticipated to worsen with the expected population influx following the implementation of the Regional Headquarters (RHQ) policy. Industry specialists predict that...

Starting from January 15, Saudi Arabia has made it obligatory for all residential rent payments to be processed exclusively through the Ejar platform. This initiative was announced by the country's Real Estate General Authority, which also clarified that this requirement will not extend to commercial lease agreements. The Ejar system provides tenants and property owners with a digital infrastructure to...

The Saudi Real Estate Refinancing Company (SRC), a subsidiary of the Public Investment Fund established in 2017, has made a significant impact on Saudi Arabia's housing finance market by injecting over SR50 billion (approximately $13 billion). This influx is intended to rejuvenate the nation's real estate sector and contribute to achieving the ambitious target of 70% home ownership set by...

Global real estate advisor CBRE has officially opened its new office in Riyadh, Saudi Arabia. The company has been serving clients in Saudi Arabia for over 15 years and currently has a team of more than 300 real estate experts in the Kingdom. To accommodate its growing headcount and anticipate further growth, CBRE's leadership team decided it was time for...

Diriyah Company, the developer behind the transformation of Saudi Arabia's historic district into a major tourism project, is selling luxury homes in its Wadi Safar community as part of its residential strategy. The company plans to offer between 40 and 50 upscale units, with a minimum price of $25 million each. These exclusive homes in Wadi Safar, west of Diriyah,...

Diriyah Company, the developer behind the transformation of Saudi Arabia's historic district into a major tourism project, is set to sell luxury homes in its Wadi Safar community as part of its residential strategy. The company plans to offer between 40 and 50 units, with a minimum price tag of $25 million each. These upscale units, located in Wadi Safar...

Oman's residential real estate market has witnessed a significant surge, with residential land prices leading the way. According to the National Center for Statistics and Information (NCSI), the overall real estate index experienced a 2.5 percent increase in the third quarter of 2023. Data released by the NCSI revealed a 7.1 percent growth in the residential land price index. However,...

As the landmark 20th edition of the International Property Show (IPS) 2024 draws near, global investors are turning their attention to the thriving real estate market in Saudi Arabia. With key indicators pointing towards a promising landscape, IPS 2024 serves as the ultimate platform for exploring and capitalizing on investment options in the Saudi real estate sector. Investors worldwide are...

Qiddiya, one of Saudi Arabia's five giga projects, recently revealed the details of its ambitious development. The first phase of Qiddiya City will be dedicated to play and centered around entertainment, sports, and culture. Located near Riyadh, the city boasts stunning views of the Tuwaiq mountains. With attractions such as a gaming and esports district, a speed park track, golf...