Saudi Arabia Introduces New System for Selling and Renting Off-Plan Real Estate Projects
Saudi Arabia has introduced a new system for the sale and rental of off-plan Real Estate projects in the Kingdom.
January 11, 2024
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Saudi Arabia has introduced a new system for the sale and rental of off-plan Real Estate projects in the Kingdom.
The Avenues Khobar Project has secured $1.16 Billion in funding to develop the first phase of
this highly anticipated development.
The first Elie Saab Branded Residences have been launched in Riyadh. Dar Al Arkan, a leading Saudi real estate company, has launched Etoile by Elie Saab in the SEDRA community in northern Riyadh which is located close to King Khalid International Airport.
Saudi Arabia’s National Housing Company launches 757 new residential units in Jeddah across two projects, Med Sadeem and Khayal Hostel, featuring villas, townhouses, and apartments with modern amenities.
Both projects are being implemented under the National Housing Company’s Public Private Partnership scheme taking their total new residential projects this year to 46.
Knight Frank, a leading global property consultancy, has announced an agreement with the Saudi Ministry of Municipal and Rural Affairs and Housing to drive investment opportunities in the kingdom’s public parks and urban spaces.
Thakher Development Company received the “Best Infrastructure Developer” award at the Saudi Building & Infrastructure Awards 2023 in Riyadh. Thakher’s Makkah project which is valued at 26 billion Saudi riyals, aims to host 30 million Umrah performers and six million pilgrims by 2030.
Saudi Arabia has announced real estate and infrastructure projects valued at over $1.25 trillion since 2016, with key Giga projects including NEOM and the Red Sea Coast Development.
Jeddah Tower, The world’s tallest building in Saudi Arabia, has resumed construction with the aim of surpassing 1,000 meters in height, which is greater than the Burj Khalifa in Dubai.
Cityscape Global 2023 Unveils $17.3 Billion dollars in Saudi Real Estate projects, including residential towers, resorts, and mega developments, demonstrating the kingdom’s growth in the sector.
Umm Al Qura who are the owners and developers of the new Masar Destination in Holy Makkah and who aim to create 24,000 hotel rooms have just signed an agreement with Scope Properties for the construction of residential towers in Makkah city at a total investment of $240 million. The agreement was signed on the sidelines of the first Cityscape Global exhibition in Riyadh.
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