Saudi Real Estate Surges as Giga-Projects Attract SAR 4.58 Billion

Saudi Arabia’s residential real estate sector is set to attract SAR 4.58 billion (USD 1.22 billion) in private investment in 2025, driven by the Kingdom’s giga-projects, according to a new report by Knight Frank and YouGov. The report, based on a survey of 1,037 households, highlights that NEOM remains the top destination for high-income buyers, though demand is diversifying across other major developments.

The study found that SAR 2.75 billion in private capital is ready for deployment into large-scale real estate projects, with Saudi nationals contributing SAR 2.62 billion and expatriates SAR 133.7 million. While NEOM was the preferred choice for 84% of Saudi buyers in 2023, interest has now fallen to 17% in 2025 as buyers explore new destinations. Higher-income investors are showing greater interest in developments such as the Red Sea Project and King Salman Park, while middle-income buyers are turning to Jeddah Central.

So far, NEOM has awarded USD 28.7 billion in construction contracts, including USD 100 million for Magna and USD 10.5 billion for The Line. Meanwhile, ROSHN, Saudi Arabia’s leading residential developer, continues to gain traction, with its SEDRA project in Riyadh emerging as the most popular choice among Saudi homebuyers.