Saudi Arabia’s urban growth is paving the way for new opportunities in the property development sector, as cities expand and the real estate market increasingly focuses on large-scale, integrated projects with significant private-sector involvement. This burgeoning sector is being highlighted at the fifth Saudi Real Estate Development and Ownership Exhibition in Jeddah, which convenes government entities, developers, investors, financial firms, and real estate service providers.
A notable highlight is the ROSHN Group’s MARAFY, a substantial waterfront development situated in northern Jeddah, covering over 9.3 million square meters. This ambitious project is centered around a man-made waterway linked to the Red Sea via Obhur Creek. It is designed to accommodate more than 70,000 residential units and is projected to eventually house over 225,000 residents. Within this development, the Alarous community is set to feature approximately 18,000 residential units, with various companies taking part in the broader master plan.
Developers from different regions are also expanding their operations within Saudi Arabia. New Event Development, already active in Egypt and Türkiye, has initiated projects in Jeddah and is planning to extend its footprint to Riyadh, driven by the opportunities arising from Saudi Vision 2030.
As the investment landscape flourishes, legal experts are emphasizing the importance of rigorous due diligence for property buyers before making purchases. Prospective buyers are advised to verify the property’s ownership, the developer’s legal standing, and the authority of the individual executing the contract. Reviewing commercial registration, ownership documents, payment terms, delivery dates, and terms related to guarantees and penalties for delays is strongly recommended. Additionally, buyers are cautioned against transferring funds to personal accounts and urged to seek legal counsel prior to finalizing property agreements.