Listen to our research, real estate strategy, and consultancy team as they delve into the key findings and major highlights from the 2024 Destination Saudi Report, looking across the foreign demand and expat residents’ interest in Saudi Arabia's real estate markets.
Talal Raqaban, Partner - Valuation, PPP & Deal Advisor, KSA, uncovers high demand for real estate purchase in the Kingdom from Saudi-based expats, with 77% of those surveyed interested in buying a residential property.
Lars Jung-Larsen, Partner - Luxury Brands, MENA, discusses the concept of branded residences and their development across the Kingdom. The most influential factor for global Muslim HNWI impacting the desire to make a branded residential purchase in either Holy City is the expected high yield and investment potential.
Faisal Durrani, Partner and Head of Research, MENA, defines the emergence of Giga projects as the most visible impact of Vision 2030 with the US$ 500bn super city of NEOM being clear favourite among Destination Saudi 2024 expat respondents for home purchase. Unlike Saudi expats’ views, the global Muslim HNWI we polled favour the Red Sea Project most for a residential purchase.
Yazeed Hijazi, Associate Partner and Co-Head of Strategy and Consultancy, KSA talks about real estate demand from global Muslim HNWI in the Holy Cities of Makkah and Madinah. New property ownership linked to the Premium Residency Visa permits owning property in the Holy Cities only on a 99-year leasehold basis. Still, 84% of the respondents are interested in making a residential purchase either in Makkah or Madinah.