Saudi Arabia is a country that is currently experiencing significant change and development, particularly in the concept of luxury living near water. It is investing in luxury properties, luxury resorts, and top-notch infrastructure to woo international investors and HNWI. These developments are in line with Vision 2030, which is positioning Saudi Arabia as a significant player in the luxury real estate and tourism market.
Another advantage of Saudi Arabia is the long Red Sea coastline that will be suitable for developing the country’s waterfront and thus boost tourism investment. In this article, you will be able to read about the country’s vision for the luxury coast and the major projects that will define it.
The Rise Of Luxury Waterfront Living In Saudi Arabia
The market of luxurious houses and villas situated in Saudi Arabia near the water is growing. The country is developing its seafrontage facilities, world-class resorts, and other premium leisure facilities. These are aimed at foreign investors, the expatriate community, and the upper class in society who seek the comforts of a classy lifestyle.
Currently, with the backing of the government, Saudi Arabia is marketing itself as the next best place to live in luxury near the coast. This is also due to the global trends, where many HNWIs are interested in acquiring premium waterfront real estate property that offers great views, private beaches, and other services.
The investors and developers realize the opportunities that exist in the luxury coastal areas, hence the competition in developing some of the best residential and hospitality units.
Key Waterfront Developments Shaping The Future
There are several large-scale projects in the process of developing new waterfronts that are changing the concept of luxury lifestyle in Saudi Arabia. Some of the most important works are as follows:
The Red Sea Project
A huge planned luxury tourist and residential destination consisting of privately owned islands, unique resorts, and branded residences.
This project is based on the concept of sustainability and exclusivity in waterfront living. The first phase is expected to be complete by 2025, and this will provide tourists, investors, and residents with an exquisite natural environment in the coastal region.
NEOM
A futuristic smart city with advanced coastal developments. NEOM is under construction and provides luxury homes and sustainable premium habitats on the Red Sea coast.
As for the waterfront communities, they are to be some of the most technologically innovative in the world, as NEOM is to be designed with modern technology in mind.
King Abdullah Economic City (KAEC)
A new city that has been built on the Red Sea coast to provide a qualitative lifestyle. They include beautiful sea-view apartments, marinas, and leisure amenities that are of international standard.
The concept of the city will provide residential, commercial, and recreational areas that encourage people to live and visit the city.
The Red Sea Project: A Model For Sustainable Luxury
The Red Sea Project is one of the largest and most luxurious tourism projects in Saudi Arabia, which is being developed in the coastal region. It aims at combining the promotion of luxury tourism with the conservation of the environment. The project includes:
- 22 islands and six inland locations with ultra-luxurious resorts.
- More than a thousand of the units are residential ones, including branded residences as well as private villas.
- A dedicated airport, Red Sea International Airport, offers seamless travel access.
- Eco-friendly transportation, including electric vehicles and sustainable aviation solutions.
- Green energy solutions, with a focus on 100% renewable power sources.
This development depicts the Kingdom of Saudi Arabia as a country that is eager to offer a luxurious lifestyle and sustainability. Unlike typical high-end projects that contribute to environmental degradation through construction, the Red Sea Project is environmentally friendly, aims to keep marine life and coral reefs, and construct structures with environmentally sustainable standards. This approach creates more long-term value for the properties and also preserves the coast for future generations.
Exclusive lifestyle and premium experiences
Living in Saudi Arabia along the waterfront is more than just living in a luxurious house. People living in and those visiting these places get to benefit from quality and professional services and leisure activities such as:
- The hotels are operated by some of the world’s best brands, such as Ritz Carlton, St. Regis, and Four Seasons.
- Luxury shopping environments that are home to international brands.
- Restaurants that can be rated as Michelin-starred restaurants, and other websites offer an opportunity to choose a restaurant for a gourmet dinner.
- Private yacht and sailing facilities and cruises along the Red Sea. These provide berthing services for these luxury yachts and also offer services in maintenance, security, and other socializing related to high-end yacht owners.
- Wellness resorts that provide nature’s best for the ultimate treatments and high-end spa services to the visitors and residents of the country.
Government Initiatives Supporting Luxury Waterfront Growth
Saudi Arabia’s government is already seeking to develop high-end coastal projects. Some of the measures that have been taken include the following policies and programs to attract foreign investors and luxury property buyers. These include:
- Foreign property ownership reforms have allowed foreigners to buy exclusive properties on the shores. These reforms are favorable as they make it easier for international buyers to purchase such luxury homes in prime areas.
- Investment-friendly policies, offering tax incentives for luxury tourism and real estate projects. This will make Saudi Arabia continue to compete in the global market for luxury property.
- While public-private partnerships that guarantee the necessary level of quality of the infrastructure and sustainable development are being implemented. These collaborations allow the best architects, designers, and developers to contribute their skills to the Saudi Arabian waterfront construction.
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Final Words
Saudi Arabia is emerging as one of the leaders in the region in terms of investments in luxury coastal projects. The favorable geographical location, coupled with the relatively developed infrastructure and quality of life, puts the country high on the list of preferred locations for luxury property investment. Saudi Arabia is already developing two projects, as the Red Sea Project and NEOM, which are going to build a future in which people will live on the waterfront and will also be sustainable and innovative. According to Vision 2030, the Kingdom should be a preferred global tourist and luxury residential property market.
