The latest news and information about NEOM, ENOWAOXAGONTHE LINE, TONOMUSTROJENA and other NEOM related projects

NEOM popular with expatriate homebuyers in Saudi Arabia, survey reveals

According to a survey conducted by global property consultancy Knight Frank, NEOM has emerged as the top choice among expatriates residing in Saudi Arabia, with 29% expressing interest in purchasing homes there.

The survey, which is part of Knight Frank's first Destination Saudi report, ranks Jeddah Central and King Salman Park as the second and third preferences, with 15% and 8% of expatriates showing interest in these areas, respectively.

A total of 241 expatriates participated in the extensive survey, which aimed to assess their real estate investment preferences in the Kingdom. A majority of the respondents (56%) have been living in Saudi Arabia for more than ten years, with the majority (76%) being employed in the private sector. Interest among expatriates in specific areas of NEOM varies, with 42% favoring THE LINE and 19% preferring Sindalah Island.

The likelihood of expatriates making a residential purchase in a preferred Giga project remains high, with 72% indicating they are likely to proceed with such investments.

Knight Frank's analysis also highlights the substantial spending power of Riyadh's expatriate community, estimated at SR3.2 billion ($863 million), underscoring the potential capital available for investment in Giga projects.

Read the full story at Saudi Gazette

Add your commment below.