Saudi Arabia Luxury Residential Real Estate Market Size Anticipated to Reach USD 25.7 Billion by 2033 - IMARC Group

November 21, 2024 | Construction and Manufacturing

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Saudi Arabia Luxury Residential Real Estate Market Statistics, Outlook and Regional Analysis 2025-2033

The Saudi Arabia luxury residential real estate market size was valued at USD 15.1 Billion in 2024, and it is expected to reach USD 25.7 Billion by 2033, exhibiting a growth rate (CAGR) of 5.98% from 2025 to 2033.

Saudi Arabia Luxury Residential Real Estate Market

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The luxury residential real estate market in Saudi Arabia is thriving due to a combination of significant economic and social reforms. Vision 2030 has set the stage for this growth by fostering an economic shift away from oil dependency, paving the way for diversified investments and an enhanced quality of life. For instance, in October 2024, Riyadh Development Company was appointed as the developer for a 559 million USD real estate investment fund aimed at developing infrastructure in eastern Riyadh. The project will cover an area of 1.8 million square meters and includes land in the district of Al Ramal, Al Qadisiyah and Al Janadriyah. This strategy has spurred real estate development in prime urban areas, notably Riyadh and Jeddah, where high-end projects are on the rise. The introduction of policies that encourage foreign investment and ownership has attracted global interest, amplifying the demand for upscale properties. In parallel, the government’s initiatives to elevate the country’s infrastructure and entertainment sectors contribute to the market’s appeal, making luxury properties more desirable to both local and international buyers.

Rising emphasis on sustainable and smart living spaces is also contributing positively to the market growth. Developers nowadays are integrating green building practices and advanced technologies to cater to an environmentally conscious and tech savvy clientele. Smart home features like automated systems and energy efficient designs are becoming standard in new developments, which, in turn, enhances the overall living experience. For instance, in November 2024, Tilal Real Estates launched the $1.63 billion “Herat of Khobar” mixed-use development in Al Khobar, Saudi Arabia, aimed at creating a sustainable urban environment. Spanning 268,813 square meters in the Al Rawabi neighborhood, it will include residential units, offices, hotels, and recreational facilities. Additionally, a shift toward exclusive gated communities with comprehensive amenities reflects the growing demand for privacy and security. High-profile mixed-use developments are also trending, combining residential, retail, and leisure spaces that offer convenience and luxury in one location. These trends highlight a shift in consumer preferences toward modern, connected, and eco-friendly living, positioning the luxury residential market as a pivotal part of Saudi Arabia’s evolving urban landscape.

Saudi Arabia Luxury Residential Real Estate Market Statistics, By Region

The market research report has also provided a comprehensive analysis of all the major regional markets, which include Northern and Central Region, Western Region, Eastern Region, and Southern Region

Northern and Central Region Saudi Arabia Luxury Residential Real Estate Market Trends:

In Northern and Central Saudi Arabia, luxury residential real estate is thriving with exclusive gated communities and custom architectural designs that highlight regional heritage. Buyers are increasingly interested in homes with sustainable technologies and smart features. These upscale developments offer amenities like private recreational facilities and top-notch security appealing to affluent residents. Ongoing infrastructure improvements also enhance accessibility and investment potential in these areas.

Western Region Saudi Arabia Luxury Residential Real Estate Market Trends:

In the Western Region of Saudi Arabia, the luxury residential real estate market is marked by smart home technologies and sustainable building practices, appealing to eco-conscious buyers. Waterfront developments in Jeddah are thriving thereby offering premium living with stunning views. In line with this, there is a growing demand for exclusive gated communities and mixed-use projects that blend modern sophistication with cultural and leisure amenities enhancing lifestyle and security.

Eastern Region Saudi Arabia Luxury Residential Real Estate Market Trends:

In the Eastern Region of Saudi Arabia, the luxury residential real estate market is really thriving, especially when it comes to waterfront properties and upscale urban living in cities like Dammam and Jubail. People are increasingly looking for homes that not only offer exclusivity but also come with smart home technologies and eco-friendly designs. There's a noticeable trend towards developing gated communities that provide top-notch amenities, as well as mixed-use spaces that blend residential, commercial, and leisure options. These developments are catering to the lifestyles of modern, affluent families who seek both comfort and convenience in their living spaces.

Southern Region Saudi Arabia Luxury Residential Real Estate Market Trends:

In Saudi Arabia’s southern region, the luxury residential real estate market is mainly driven by the increase in tourism, infrastructure advancements and rising demand for culturally inspired high end homes. Key trends include the integration of sustainable and smart technologies, the development of exclusive gated communities along with the blending of traditional architectural elements with modern luxury amenities. In line with this, enhanced connectivity and investment in local infrastructure are attracting affluent buyers to the region.

Top Companies Leading in the Saudi Arabia Luxury Residential Real Estate Industry

Key market players in Saudi Arabia’s luxury residential real estate sector are focusing on developing high-end, state-of-the-art properties in prime locations. They are incorporating sustainable and smart technologies to meet modern demands and enhance living experiences. For instance, in March 2024, Talaat Moustafa Group and Al Muhaidib Group announced their partnership to develop the Saudi Talaat Moustafa Group Company for Urban Development, beginning with “Banan City” project in Riyadh. The multi-use project will cover 10 million square meter featuring 27,000 residential units and ample green spaces aiming to create smart and sustainable urban communities. In line with this, these developers emphasize creating exclusive amenities and gated communities to attract affluent buyers seeking privacy and security. By investing in innovative designs and premium infrastructure, they cater to both local and international markets, driving growth and elevating the luxury standard.

Saudi Arabia Luxury Residential Real Estate Market Segmentation Coverage

On the basis of the type, the market has been categorized into apartments and condominiums and villas and landed houses. Apartments and condominiums cater to urban professionals and expatriates in Saudi Arabia seeking modern, high-density living with access to premium amenities.
Villas and Apartments appeal to affluent buyers in Saudi Arabia desiring spacious, private residences with exclusive features.

Report Features	Details
Market Size in 2024	USD 15.1 Billion
Market Forecast in 2033	USD 25.7 Billion
Market Growth Rate (2025-2033)	5.98%
Units	Billion USD
Scope of the Report	Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: Type Region
Types Covered	Apartments and Condominiums, Villas and Landed Houses
Regions Covered	Northern and Central Region, Western Region, Eastern Region, Southern Region
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Saudi Arabia Luxury Residential Real Estate Market Size Anticipated to Reach USD 25.7 Billion by 2033 - IMARC Group

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