Saudi Arabia Real Estate Market is Expected to Register a 8.86% CAGR Through 2030F

Economic diversification & vision 2030 and population growth & urbanization, Government Initiatives and Regulations are likely to propel the market during the forecast period.

According to TechSci Research report, “Saudi Arabia Real Estate Market – By Region, Competition, Forecast and Opportunities, 2020-2030F”, Saudi Arabia Real Estate Market was valued at USD 68.52 Billion in 2024 and is expected to reach USD 111.77 Billion by 2030 with a CAGR of 8.86% during the forecast period. 

Foreign investment plays a crucial role in the growth and development of Saudi Arabia’s real estate market. As part of its Vision 2030 plan, Saudi Arabia is actively working to attract foreign investors by liberalizing regulations and promoting international partnerships. The government has implemented several measures to ease the process for foreign investors, making the real estate market more accessible and competitive.

One of the most significant reforms in this area is the introduction of new laws allowing foreign ownership of real estate in specific areas, such as special economic zones, without the need for a local partner. This has made it easier for international investors to participate in Saudi Arabia’s growing real estate market, particularly in commercial and tourism-related projects. Additionally, the Saudi Arabian General Investment Authority (SAGIA) has simplified the process for foreign businesses to establish a presence in the kingdom, providing incentives for foreign investments in the real estate sector.

The growing relationship between Saudi Arabia and other countries, especially in the context of regional economic cooperation and international business ties, has also contributed to foreign interest in the real estate market. As Saudi Arabia continues to forge stronger relationships with global powers, more foreign investors are looking to capitalize on the opportunities presented by the country’s expanding economy, infrastructure projects, and urbanization.

Foreign investment is particularly noticeable in the hospitality and tourism sectors, with many international hotel chains and developers establishing a presence in the kingdom. Major real estate projects aimed at boosting tourism, such as the Red Sea Project and NEOM, are expected to draw substantial foreign investments, further driving growth in the real estate market.

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In terms of property type, fully furnished is the fastest growing segment in the Saudi Arabia real estate market during the forecast period, driven by shifting consumer preferences, urban lifestyle changes, and evolving investment patterns. One key driver is the surge in demand from expatriates and young professionals, particularly in metropolitan areas like Riyadh, Jeddah, and Dammam. As the Kingdom pushes forward with Vision 2030 and opens its economy to foreign talent and investors, many residents—especially short- to medium-term tenants—prefer the convenience of move-in-ready homes. Fully furnished units eliminate the need for upfront investment in furniture, which is especially appealing to transient populations and first-time renters. Additionally, corporate leasing and executive housing demand have seen a significant uptick due to the entry of multinational firms and expansion of public-private partnerships. Many companies seek furnished apartments to house their staff efficiently without incurring the costs of setup and furnishing, further fueling demand for this segment.

The rise of serviced apartments, branded residences, and short-term rental platforms like Airbnb has also contributed to the growing preference for fully furnished spaces. These offerings cater to both tourism and business travel, two sectors that are rapidly expanding due to new visa policies and Saudi Arabia’s tourism ambitions. From an investment perspective, developers and landlords increasingly view fully furnished units as a value-added proposition. These properties often command higher rental yields and shorter vacancy periods, which are attractive traits in a competitive rental market. Additionally, government-backed housing initiatives and residential megaprojects have started including furnished options to attract a broader demographic, including millennials and international buyers.

In terms of region, Eastern Province is the fastest growing region in the Saudi Arabia Real Estate Market, driven by a combination of strategic economic initiatives, infrastructure development, and increasing demand for both residential and commercial properties. With key cities like Dammam, Al Khobar, and Dhahran at the heart of the region, the Eastern Province has benefitted from significant investments in sectors such as energy, industry, and transportation. The government's Vision 2030 plan further accelerates growth by diversifying the economy and enhancing urban development. This expansion is attracting both local and international investors, resulting in a booming real estate market characterized by high demand for modern housing, office spaces, and retail establishments. Moreover, the region's proximity to key oil and gas industries, along with its growing tourism and leisure sectors, positions it as a dynamic hub for real estate development.

Major companies operating in the Saudi Arabia Real Estate Market are:

• CBRE Group
• Jones Lang Lasalle Incorporated
• Simon Media Properties, LLC
• DLF Limited
• Prologis, Inc.
• Cushman & Wakefield Debenham Tie Leung Limited
• Boston Hub Real Estate Inc.
• Colliers International Property Consultants, Inc.

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“The Saudi Arabia real estate market presents significant opportunities driven by the nation’s Vision 2030 economic diversification, rapid urbanization, and large-scale infrastructure projects. With a growing population, especially in urban areas, demand for residential, commercial, and mixed-use developments continues to rise. Key sectors such as affordable housing, tourism-related real estate, and sustainable, green buildings offer substantial growth potential. Government initiatives, including financial incentives for developers and homebuyers, further enhance investment prospects. The ongoing transformation of cities like Riyadh, Jeddah, and NEOM provides a dynamic environment for long-term real estate investments and strategic development opportunities.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.

“Saudi Arabia Real Estate Market, By Type (Real Estate Rental, Real Estate Agency, Brokerage), By Mode (Online, Offline), By Property Type (Fully Furnished, Semi Furnished, Unfurnished), By Region, Competition, Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential of Saudi Arabia Real Estate Market and provides statistics & information on Market size, structure and future Market growth. The report intends to provide cutting-edge Market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Saudi Arabia Real Estate Market.

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