Is the Red Sea coast the next hub of investment in Egypt and KSA?
If you're thinking about real estate investments, the Red Sea coast in Egypt and Saudi Arabia is a place to keep an eye on. It's been attracting attention from investors worldwide, and here's why.
16 February 2024
In 2023, 94% of wealthy investors from the GCC with assets over US$1 million are eager to invest in properties in Egypt. The North Coast of Egypt, in particular, has become a hotspot for those looking for vacation homes, drawing interest from investors, especially from Saudi Arabia and Qatar, according to Destination Egypt.
On the other side of the Red Sea, Saudi Arabia is undergoing some major changes with projects like NEOM and Red Sea Global. These projects are quickly transforming the western provinces, focusing on diversifying, and expanding residential, office, retail, and hospitality options. This is all part of Saudi Arabia's vision to accommodate a projected population of over 50 million by 2030, as highlighted in Knight Frank’s report, Saudi Giga Projects .
While both sides of the Red Sea are attracting investors, they have slightly different appeals. Egypt's North Coast is perfect for those looking for a holiday home, with its stunning landscapes and potential for luxury living. Saudi Arabia's Giga projects, on the other hand, are about creating a new urban future to support population growth. In addition, there is great potential for high rental yields, and luxury homes in certain price ranges are in short supply, making these investments even more appealing.
The Red Sea coast is becoming a go-to destination for real estate and infrastructure investments, offering a range of opportunities for those who want to be part of the growth stories of both Egypt and Saudi Arabia, each with its unique development dynamics.
