According to a new poll performed by Frank Knight, a global real estate consultant, the $500 billion NEOM megaproject has seized the top spot on the list of property purchasers in the kingdom.
According to the annual poll on housing in Saudi Arabia for the year 2022, the city of NEOM is the most popular choice for home purchasers.
It was emphasized that persons with a high net worth are driving demand for properties in the city of NEOM.
Meanwhile, the Red Sea project scored second in the Kingdom in terms of homebuyer participation.
The giant NEOM has piqued the interest of Saudis across the country, with 96 percent of the wealthy indicating that they intend to purchase a home in one of the country’s megaprojects.
NEOM is the most preferred by the wealthy in Riyadh (61%), as well as Jeddah (58%).
The annual study of 1,003 families and 55 affluent individuals in Riyadh, Jeddah, and Dammam was done by a global real estate consultant.
NEOM’s appeal among the Kingdom’s megaprojects was stressed by all of them.