Top Real Estate Developments to Watch in Saudi Arabia For 2024
The real estate market in Saudi Arabia has been booming and evolving over the past few years. There are many reasons behind the evolution of the Saudi Arabian real estate market such as government initiatives, evolving consumer preferences, and global influences. As a result, there are many new developments in Saudi Arabia for 2024. These developments include both residential and commercial projects, as well as residential and hospitality projects.
Various new real estate projects in Saudi Arabia are fresh opportunities for investors from all across the world. In this article, we are going to explore the top real estate developments in Saudi Arabia for 2024. If you are interested in any of these developments and want to buy a property, you can contact Sotheby's Saudi Arabia; a renowned real estate firm at the international level.
A Look Into Saudi Arabia’s Top Real Estate Developments
Saudi Arabia is witnessing an increase in real estate developments, with several projects expected to complete in 2024. These projects are expected to bring significant economic growth to the country, creating new jobs and opportunities for investors.
The following are the top 4 real estate developments to watch in Saudi Arabia for 2024.
1. Baccarat Residences Diriyah
La Via Baccarat is an artful amalgam of Najdi heritage and French influence. This exclusive residential complex consists of nine residences presented by the French brand Baccarat and gives the residents an unexpected and unforgettable living experience. This luxurious project gives the Saudi kingdom an ultra-luxurious upgrade.
Baccarat Residences in Diriyah is an exceptionally rare complex with nine mudbrick villas. Large courtyards, private swimming pools, and world-class amenities make this residence attractive for discerning homebuyers and potential investors in Saudi Arabia.
The nine residential units in this development are of three types: 3-bedroom sky residences, 4-bedroom garden residences, and one exclusive grand residence with 5 bedrooms. Homebuyers have exclusive options to choose from any of these residences. The area of these residences ranges from 1,029 square meters to 2,438 square meters.
The residents of these architectural marvels by Najdi Architecture can also enjoy numerous outdoor facilities. The development also includes large exterior spaces, private parking, and access to the facilities of the Baccarat Hotels including a spa, lounge, restaurants, swimming pools, and event pools.
Baccarat Residences Diriyah will offer Saudi heritage-style and as an off-plan project, it is still under construction and expected to be completed in the last quarter of the year 2027.
Property Type: Villa
Starting Price: SAR 42,330,000
Location: Diriyah, Riyadh
Bedrooms: 3, 4, 5 beds
2. Corinthia Diriyah
Corinthia Diriyah is another prestigious residential complex located in the sophisticated Diriyah Square which is known as a culturally rich and lively city center of Saudi Arabia. This brand-new development consists of only ten Najdi-inspired villas. All the residences in Corinthia Diriyah are unique and divided into two categories: the first category is known as garden residences consisting of 4 bedrooms and the area of these residences starts from 1562 square meters and the second category is termed sky residences consisting of 4 bedrooms and the area of these residences starts from 1628 square meters.
This historical project at the heart center of the city came into being as a result of the great collaboration between Corinthia International Group and Najdi architectural brand. The interiors of the residences, architectural design, outdoor spaces, and upscale modern amenities are the reflection of Saudi sophisticated and modern future.
Property Type: Villa
Starting Price: SAR 40,096,399
Location: Diriyah, Riyadh
Bedrooms: 4 beds
3. The Ritz - Carlton Diriyah
A globally-renowned luxury hospitality brand The Ritz - Carlton Residences brings five-star living by introducing an exclusive collection of residences in Diriyah. This is a peaceful and sophisticated community consisting of 106 spacious residences. The architectural design of all these residences is designed by the Najdi architectural firm.
These exclusive Najdi-inspired villas feature opulent contemporary interiors, world-class amenities, indoor and outdoor spaces, private swimming pools, and shady leafy courtyards. The residences in this development range from three to four, and five bedrooms. Potential homebuyers have options to choose a property in one of the most famous areas of the city as per their needs and expectations. The price of the villa in the Ritz-Carlton project starts from SAR 10,470,000
The Ritz - Carlton project is also famous and the center of attraction for many buyers from all across the world due to its prime location. It is situated in the heart center of historic Diriyah. Diriyah is the birthplace of the Saudi Royal family and the central area of the city. Due to its brand-new developments and various projects, it is an attractive destination for visitors from all over the world.
Property Type: House
Starting Price: SAR 10,470,000
Location: Riyadh
Bedrooms: 3, 4, 5 beds
4. Raffles Residences Jeddah
Let us introduce a luxurious waterfront development on the Jeddah Corniche where world-class hospitality meets high comfort: Raffles Residences Jeddah. This is an amazing development that sets new standards of living in Saudi Arabia.
This exclusive skyline situated on Jeddah Corniche is a 46-story building consisting of hotels, apartments, and penthouses. Apartments in this prestigious project range from three to four bedrooms and each apartment offers majestic sea views and sophisticated high-end finishes.
The interiors of the residential apartments at Raffles Residences Jeddah are generously designed and crafted with special attention to detail. The ceiling-to-floor windows in each apartment provide stunning views of the sea and Jeddah’s coastline.
The residents in this project can enjoy exceptional standards of living and a variety of amenities such as two-residents-only gyms, separate swimming pools for men, women, and children, private pilates studios, a yoga area, a prayer room, a private children’s club, green spaces, a barbecue area, and a meditation and relaxation terrace overlooking the sea. There are also facilities for private parking, luggage service, and 24-hour security.
The premium location of this project is another attraction for homebuyers as it is close to prominent business hubs and lifestyle districts within Jeddah. The Raffles Residences project is still under construction and is expected to be completed in Q4 2024.
Property Type: Apartment, Penthouse
Starting Price: SAR 9,810,000
Location: Jeddah Corniche, Jeddah
Bedrooms: 3, 4, 5 beds
Final Thoughts
As Saudi Arabia continues to push the boundaries of luxury and innovation in its real estate sector, developments like Baccarat Residences, Corinthia Diriyah, The Ritz - Carlton Diriyah, and Raffles Residences Jeddah showcase the country’s commitment to excellence. Each of these projects reflects a unique blend of heritage, opulence, and modernity, positioning the Saudi kingdom as a global hub for luxury living.