31 Days
Source:
الاقتصادية
Al-Medina to lead in real estate growth
Following the Saudi Cabinet's approval of the executive regulations for the non-Saudis' property ownership system, the real estate market in Medina is expected to experience faster growth, as it remains less mature compared to Mecca. Forecasts indicate that demand from individual and institutional buyers will increase, with the primary demand likely coming from Muslims wishing to own properties near the two holy cities, whether for personal use or long-term investment. Experienced investors and investment funds are expected to lead the initial phase, with later interest from international investors growing thanks to market development and the regulatory framework. Riyadh is still expected to remain the most attractive destination for foreign investment, given its large economy and major projects.
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