Giga-project NEOM attracts expat property buyers

Giga-project NEOM attracts expat property buyers

Out of those surveyed, 14 per cent were not interested in buying properties in any of the projects at the centre of Saudi Arabia’s massive economic transformation plans. When informed that all properties have a starting price of $1 million, the figure rose to 38 per cent.

“There appears to be a gulf between expats’ budgets and developers’ planned sales prices,” said the report, based on the survey carried out with YouGov.

King Salman Park is a large piece of green and urban land, which is not as popular as NEOM, but includes 11 avant-garde resorts, a tourist island called Sindalah and a horizontal city called The Line.

Of the expats interested to buy property in NEOM, 42 per cent said they are willing to buy in The Line and 19 per cent preferred Sindalah island.

The real estate projects currently in the Kingdom have been given a value of $1.25 trillion (Dh4.5 trillion), making it one of the biggest construction sites.

Giga-project NEOM attracts expat property buyers