Saudi real estate enjoys great confidence from the citizens due to its ability to save its money in the face of inflation and major global economic changes caused by the Corona virus crises, the Ukraine war, the global economic slowdown, and global banking crises. Investment in Saudi real estate remains through selling, renting, and flipping (real estate investment strategy where an investor purchases a property with the intention of selling it for a profit rather than using it).
Therefore, real estate investment in Jeddah is a good opportunity for your property, whether it is residential, commercial, or administrative.
Saudi Vision 2030 to Develop the Kingdom’s Economic Sectors
Through Vision 2030, the Kingdom depends on diversifying its economic returns, so it does not depend on oil and the economy of petroleum refining and exporting, but rather encourages investment of all kinds. Here, the importance of real estate investment in Saudi Arabia appears through the construction of residential projects, commercial malls, and commercial centers, as well as investment in real estate funds and investment funds.
Real Estate Wealth in Jeddah
The visitors to Jeddah will see many major residential projects, high-rise towers, skyscrapers and well-known towers that have been used as headquarters by major international companies.
The city of Jeddah has a real estate wealth of a special nature, and the residential neighborhoods in Jeddah include a group of the most luxurious and most attractive properties, whether for citizens, expatriates, or tourists coming to the Kingdom for religious, recreational, or cultural tourism. Can you imagine that in Jeddah there are more than one hundred and thirty-five skyscrapers?
Jeddah: One of the Most Important Cities in Saudi Arabia
The city of Jeddah follows Riyadh in area, density and population. Jeddah is a city with economic, residential and commercial weight and has major business and investment centres.
Jeddah is distinguished by its location in the west of the Kingdom of Saudi Arabia on the Red Sea coast. Jeddah includes an important and major international port for exporting non-oil goods and merchandise, which has made Jeddah a center for finance and business, and through important and diverse economic activities, the need for administrative and residential real estate increases for both citizens and expatriates.
Development of Facilities and Infrastructure in Jeddah
In recent decades, the facilities and infrastructure in Jeddah have developed to become an attractive investment city, one of the most prominent major projects in Jeddah, which has increased the volume of real estate demand there:
- Water and sanitation networks development project
- Haramain High Speed Railway
- King Abdullah Sports City Project
- Corniche development project
Available Services in Jeddah City
In order for the city to be attractive for housing and rent, and therefore feasible for real estate investment, it must have projects, institutions, and services that contribute to attracting life, such as:
- Educational institutions, universities and schools.
Jeddah witnessed major expansions in the city’s schools for boys and girls and international and private schools. There are also new universities, most notably the Business University, Dar Al-Hekma University, and King Abdulaziz University.
Jeddah includes many dispensaries, hospitals, and health centers. There are 9 government hospitals in Jeddah, and many private hospitals and charitable clinics.
Types of Real Estate Units in Jeddah
As long as you decide to have a passive income from real estate investment by purchasing and renting real estate in Jeddah, there is a group of properties between residential and administrative, and they vary as follows:
- Apartments in residential buildings.
- Villas and palaces.
- Traditional Saudi houses.
- Shops and commercial areas.
- Offices and administrative units.