Oct 12, 2024
Since the announcement of Saudi Vision 2030 initiative by Crown Prince Mohammed bin Salman, under the patronage of King Salman bin Abdulaziz, Riyadh has opened its gates wide to the world. The entertainment plans that came to life with this vision shed light upon several off-plan projects in Riyadh, generating soaring demand for these off plan real estate projects. Accordingly, there are numerous reasons these properties have emerged as an attractive investment avenue for investors and end-users alike.
This blog will discuss the underlining causality behind the upward scale in the demand for ongoing projects in Riyadh and the market prosperity it reflects.
This qualitative leap in the off plan real estate market has sown the seeds of the increased demand for off-plan projects in Riyadh, which have proliferated recently throughout the capital. This expansion amplified to bring about notable shift from the traditional horizontal urban growth to vertical development in Riyadh. Thus, it echoes the escalating needs for more properties in the now and the future, both locally and globally, due to Saudi Vision 2030 and its agenda focusing on bringing more international investments into the country.
What is driving this market boom?
In the last couple of years, some developers had foreseen the demand that would emerge once Saudi Vision 2030 was implemented; thus, they started speeding up the construction cycle of more off-plan projects in Riyadh. However, the time factor involved in completing these projects set limitations in letting them into the market quickly. This lent the green light to the concept of selling the projects once they were conceptualized and the approval for the implementation to go is guaranteed.
A developer can now launch several projects per year, only by preparing the illustrative materials necessary for marketing ends to envisualize for the clients what to expect the moment the project has been completed.
What Makes Off-Plan Real Estate in Riyadh Stand Out?
Most of the new projects developed in Saudi Arabia have offered off-plan real estate and have been able to grab major attention among investors and end-users. This was because of the myriad advantages found in the off-plan projects in Riyadh. First, comparisons with ready-built properties reveal a huge difference in price, whereby off-plan apartments are relatively cheaper. Also, while the purchase price of a ready property is paid in full by the buyer, an off-plan apartment in Riyadh can offer a flexible payment scheme spanning several months or even years, providing more ownership opportunities, even to low and mid incomes. Even more, while the property is still under construction, the appreciation in value results in high yields after the projects are completed and transformed into ready properties. This makes the portfolio quite appealing to an investor.
Is it risky to blind-invest this good deal of money?
Of course, a buyer may wonder if the units he bought would be the same as shown in the illustrative brochures of the project or if it will be a scam.
The best answer to this would be that it is, by and large, a naïve doubt of the past when off-plan investments were relatively new. Today, well-known developers have market reputation by which buyers are able to assess the credibility of their offers. Laws have also changed to protect the buyers' rights to actually receive what they were promised and to stop developers from shirking their responsibilities.
Riyadh has been working out its evolution for some years now, but all this effort was crowned by Saudi Arabia's plans to turn the capital into a global centre, attracting the world to its doors, instead of knocking on theirs. With its lucrative oil-based economy, Saudi Arabia was perceived to have few varieties of investment avenues. However, with the implementation of Saudi Vision 2030, the Kingdom flexed its various economic muscles, and foreign investments raced for a share of the profits. Accordingly, incoming investors will by default require office space and housing, urging the need as such to accelerate the work on ongoing construction projects in Riyadh. This is translated into increased demand for either rentals or direct investment into the properties themselves. Therefore, ongoing projects in Riyadh are especially enticing because of their increasing profits and ease of resale.
With the impressive urban development currently at work in Riyadh, off-plan apartments have become one of the fast-evolving investment axes due to its high expected returns. But the question is, what are the best areas to invest in?
This is a modern model city in Riyadh's Al Nakheel neighbourhood, located right at the heart of Prince Turki bin Abdulaziz Al Awwal Road. There are many off-plan real estate projects within this city, which feature world-class facilities, hence making it very attractive to investment, mainly in residential and hotel apartments due to the influx of visiting investors.
Al-Olaya District is the most prestigious district in the north of Riyadh, famous for its iconic landmarks, such as Al-Faisaliah Tower and Kingdom Tower, which attract luxurious investments. It boasts a number of the most sought-after ongoing construction projects in Riyadh. Besides being a luxury off plan real estate district, the location puts you just a few minutes from shopping and service centres.
Al-Narjis is one of the most upscale places in northern Riyadh, with nearby service centres, hospitals, and even universities. Now it has witnessed a slight increase in urbanization due to some of the high-end ongoing projects in Riyadh of apartments, villas, and detached houses. Consequently, the desirability for living in Al-Narjis has soared high, especially for those interested in finding family-friendly apartments for sale in Riyadh.
Similar to other northern Riyadh areas, Al-Malqa is one of the most famous regions that experience modern urban growth due to high demand. An investor can name their demand, and they will find it here, as new ongoing construction projects in Riyadh are introduced every day. Hence, it can be considered one of the appropriate destinations to invest in off-plan projects in Riyadh.
In addition to its strategic location in northern Riyadh, Al-Yasmeen is standing out for its modern building designs, that still retain the Saudi authenticity, to offer a blend curated to both local and foreign investors’ preferences. This district has many ongoing projects in Riyadh, hence being highly in demand for investment.
Location-wise, Al-Sahafa District is close to government and media institutions, aspiring the name of this neighbourhood. Recently, it has witnessed unprecedented activities in ongoing construction projects in Riyadh, as it provides an array of high-quality off-plan real estate. This has raised its profile in the Saudi Arabian property market, turning it into an ideal location for ongoing projects in Riyadh.
Listing fancy neighbourhoods in northern Riyadh, we cannot miss mentioning Hittin District, as it showcases top-notch off plan real estate, with neat designs and worldclass amenities. Its proximity to main roads makes it a favourite choice among many aspiring investors for off-plan projects in Riyadh.
According to the investment charts, Saudi Arabia's real estate market will continue to thrive, with the current achievements opening a way into the next phase. Indeed, this development has been marked by the increasing investments, following the great economic and social opening of the Kingdom inspired by Saudi Vision 2030.
The unprecedented urban development of Saudi Arabia paved ways for investment opportunities in ongoing construction projects in Riyadh. This leap generated increased demand for off-plan projects in Riyadh, inspiring as such developers to put their investing heart into launching more off plan real estate. The fast line of production inflected high competitiveness on the market, which kindled the creativity to develop worldclass projects in response to the international opening in the Kingdom.
To know more about all developments in Riyadh, you are welcome to read our experts' blog on Mada Properties official website and catch up with the new events taking place in the Saudi capital.
1. Are there any ongoing construction projects in Riyadh to invest in?
Yes, there are lots of Riyadh off-plan projects offering a variety of apartments with the best quality designs and amenities.
2. Can foreigners invest in ongoing projects in Riyadh?
Yes, they can. According to the amendments in the ownership laws since the launch of Saudi Vision 2030, foreigners are now able to own property in the Kingdom.
3. What is the best neighbourhood for investment in Riyadh?
The best neighbourhoods to own an off plan real estate in Riyadh are: Digital City, Al-Olaya, Al Narjis, Al Malqa, Al Yasmeen, Al Sahafa, and Hittin Districts.
4. Is there a flexible payment plan while investing in off-plan projects in Riyadh?
Of course, all developers have easy and straightforward payment plans in place to facilitate ownership opportunities for every resident and investor here in the Kingdom.
Written by: Sarah Chaher
Stay informed with expert-written articles and the latest trends in the real estate market.
March 25, 2025
In a move reflecting Saudi Arabia’s commitment to environmental protection and biodiversity conservation, Saudi officials announced the relocation of a global project in the futuristic city of Neom due to the discovery of a rare plant species found exclusively in that location. This decision came under the direct order of HRH Crown Prince Mohammed bin Salman, emphasizing the priority of environmental conservation in Saudi Vision 2030.
During the planning of a luxury resort in one of Neom’s valleys, experts discovered a rare plant species that grows only in that mountainous area and had never been documented elsewhere in the world. This placed the team in a difficult position: proceed with the massive investment project or protect this unique plant.
As recounted by Prince Abdulaziz bin Turki Al-Faisal, Saudi Minister of Sports, on the program "Hikayat Waad" on MBC, the Crown Prince immediately ordered the project to be relocated and the original site to be turned into a natural reserve to protect the plant. The species was officially registered under the name "Neom", honoring the project that sacrificed financial gains for environmental preservation.
Neom adopts a unique environmental philosophy, aiming to dedicate 95% of its land as protected natural reserves, making it a model for sustainable development that balances urbanization and nature conservation. Key initiatives include:
The Neom plant story is not the only example of Saudi leadership’s environmental dedication. Bandar Al-Khorayef, Minister of Industry and Mineral Resources, shared another instance where the Crown Prince rejected a mining investment in a protected area, humorously remarking:
"Did you search the entire country and only find this spot?"
This led to a revision of Saudi Arabia’s investment map to exclude protected zones.
The story of the rare Neom plant is not just an isolated event but a powerful statement from Saudi Arabia that true development does not come at nature’s expense. While other nations prioritize short-term economic gains over the environment, the Kingdom sets a global example in combining economic growth with ecological sustainability, reinforcing its role as a pioneer in protecting the planet for future generations.
March 23, 2025
Eid al-Fitr is a joyous religious and social occasion that marks the end of the holy month of Ramadan. Families and friends come together to celebrate, and Saudi Arabia stands out as a prime tourist destination during this time. With its diverse attractions ranging from historical sites to natural wonders and entertainment hubs, the Kingdom offers an unforgettable holiday experience. In this article, we’ll explore the best tourist destinations and activities to enjoy during Eid al-Fitr 2025.
As the capital of Saudi Arabia, Riyadh is a city that blends modernity with tradition. It boasts a variety of tourist attractions, including:
A breathtaking natural wonder offering stunning views from the top of the Tuwaiq Escarpment.
A historic castle dating back to the 19th century, symbolizing the unification of the Kingdom.
A skyscraper featuring a luxury shopping mall, fine dining restaurants, and panoramic city views.
A must-visit for history enthusiasts, showcasing Saudi Arabia’s rich heritage from ancient times to the modern era.
Known for its stunning beaches and rich culture, Jeddah is a perfect destination for Eid celebrations:
A mosque that appears to float on the Red Sea, offering a serene and picturesque setting.
A family-friendly waterfront with restaurants, cafes, and recreational activities.
A UNESCO World Heritage Site featuring traditional houses adorned with intricate wooden balconies (Mashrabiyas).
AlUla is one of Saudi Arabia’s most iconic destinations, combining ancient history with breathtaking landscapes:
An archaeological site with Nabatean tombs carved into rock formations.
A tranquil retreat surrounded by palm trees and natural springs.
A unique rock formation resembling an elephant, perfect for photography.
Abha’s mild climate and stunning scenery make it a favorite for nature lovers:
The highest peak in Saudi Arabia, offering mesmerizing views of mist-covered mountains.
A heritage village showcasing traditional architecture and local crafts.
A family-friendly park with recreational activities and scenic walking trails.
Located off the coast of Jazan, the Farasan Islands are a haven for beach and marine enthusiasts:
Al-Ahsa is renowned for its lush palm groves and rich history, recognized as a UNESCO World Heritage Site:
The largest palm oasis in the world, home to over 2.5 million palm trees.
Natural caves formed by erosion, perfect for exploration.
A traditional market offering local products and handicrafts.
Tabuk, in the north of Saudi Arabia, is known for its historical and natural attractions:
Dammam is famous for its beaches and modern shopping centers:
An artificial island with a zoo, amusement park, and family-friendly activities.
A waterfront area ideal for walking, cycling, and picnics.
One of the largest shopping centers in the region, featuring a variety of stores and restaurants.
Taif’s moderate climate and natural beauty make it a popular destination for families:
Umluj is known for its golden beaches and crystal-clear waters, making it a paradise for beach lovers:
In conclusion, Saudi Arabia is a comprehensive tourist destination offering diverse experiences for all tastes. Whether you’re seeking relaxation on pristine beaches, exploring ancient history, or embarking on natural adventures, Eid al-Fitr 2025 is the perfect opportunity to discover the treasures of the Kingdom. Plan your trip now and create unforgettable memories with your loved ones!
March 20, 2025
In a new step reflecting Saudi Arabia's commitment to achieving the goals of Vision 2030, the Ministry of Environment, Water, and Agriculture announced the launch of five major investment opportunities in the agricultural sector in the Al-Baha region. These opportunities, announced through the "Furas" platform, aim to enhance self-sufficiency in agricultural products, increase local production, support food security, and attract both local and international investments.
The opportunities include the establishment of an integrated agricultural city dedicated to cultivating prickly pear (cactus fruit), as well as four agricultural cities specialized in growing coffee (Arabica) trees. According to the ministry's statement, over 2.2 million square meters will be allocated for the prickly pear agricultural city, while the coffee cultivation cities will span more than 2.3 million square meters in the Baljurashi governorate of the Al-Baha region, which boasts an ideal climate and environment for these high-quality crops.
Through these projects, the Kingdom aims to achieve several strategic goals, including:
This initiative aligns with the Kingdom's efforts to diversify income sources and reduce dependence on oil, with the agricultural sector being one of the key pillars for achieving this goal. These projects also reflect Saudi Arabia's commitment to sustainable economic development and strengthening its position as a regional hub for agricultural investment.
These investment opportunities represent a significant step towards enhancing the agricultural sector in Saudi Arabia, contributing to food security and supporting the national economy. Through these projects, Saudi Arabia demonstrates its commitment to achieving Vision 2030 by diversifying the economy and creating promising investment opportunities. This move not only supports the agricultural sector but also reinforces the Kingdom's position as a leading investment destination in the region.