With more than 275,000 hotel rooms, 555,000 residential units, and over 4.3 million square meters of retail space, the Kingdom of Saudi Arabia is home to some of the world’s most ambitious real estate development projects.
Likewise, from Dubai’s booming business hubs to Egypt’s capital city, next-generation developments are springing up all over the Middle East. Read on to learn more about some of the most exciting property development projects in the Middle East.
1. Abrahamic Family House – United Arab Emirates
Situated on Saadiyat Island in Abu Dhabi and incorporating a mosque, synagogue, and church, Abrahamic Family House is the United Arab Emirates’ first interfaith building, according to His Highness Sheikh Mohamed bin Zayed Al Nahyan.
Sheikh Mohamed explained that the aim of creating the Abrahamic Family House was to advance mutual respect, comprehension, and diversity, highlighting the country’s ultimate goal of harnessing the power of mutual understanding, respect, and diversity to achieve shared progress.
2. Korba Heights – Egypt
Today, residents of Heliopolis, one of Cairo’s most sought-after neighborhoods, are increasingly seeking refuge from the traffic and pollution of the city and turning their attention to Korba. Korba Heights is renowned for its urban architecture as well as its impressive selection of restaurants and cafes and pedestrianized neighborhood of shops surrounded by sprawling villas. Located between North Cairo and Suez, just south of the Cairo-Ismailia highway, Korba boasts direct links with Al-Shorouq and Madinaty.
Spanning 42,000 square meters, Korba is the materialization of an exceptional, comprehensive vision for an integrated compound, boasting a spectacular location that links it to Cairo’s commercial center. As part of the project, developers will create a self-sufficient city that combines the basic tenets of luxury living with practical and efficient planning, utilizing infrastructure to serve residents. In addition, it will include 8,400 square kilometers of green surfaces.
3. AlUla – Saudi Arabia
With a cultural history stretching back more than 200,000 years, AlUla is a heritage site that is home to stunning oases and sandstone mountains. The Saudi government recently announced plans to transform this historic site into an international tourism destination via the Kingdom’s Journey Through Time masterplan, an initiative spearheaded by His Highness Crown Prince Mohammed bin Salman to make the area more accessible for international tourists.
Once the development of AlUla is complete, it is predicted to drive economic diversification throughout the region, boost employment opportunities, accelerate the development of the cultural and tourism infrastructure, and ultimately improve the quality of life for locals.
4. Atlantis The Royal – United Arab Emirates
Opening on the Palm Islands, one of the most unique holiday destinations in the world, Atlantis The Royal is Dubai’s newest megaresort. It will feature two separate wings, with 231 residences on the right and 795 guest suites on the left, providing a truly first-class hotel experience.
An infinity swimming pool, standing almost 100 meters above sea level, will join the two sides. Presenting an opportunity for tourists to experience a “villa in the clouds,” Atlantis The Royal cost a reported $1.6 billion to develop.
5. Baynouna Solar Park – Jordan
Jordan’s largest clean energy project, Baynouna Solar Park is a 200-megawatt park that is the creation of the Baynouna Solar Energy Company, a joint venture launched by Masdar, a leading renewable energy company based in UAE, and Taaleri, a Finnish investment and asset management group.
On completion, Baynouna Solar Park will provide enough electricity to power 160,000 homes. The plant will also displace some 360,000 tonnes of CO2 annually, the equivalent of taking almost 80,000 cars off the road.
6. Il Monte Galala-Sokhna – Egypt
The culmination of a contract between Crystal Lagoons and Tatweer Misr, this development will see the creation of the manmade lagoons in the Sokhna Mountains, transforming around 3 kilometers of sandy beaches and an expanse of crystal clear waters into the exclusive residential area of Il Monte Galala-Sokhna.
The development will include six stunning lagoons, spanning some 40,000 square meters in total.
7. Neom – Saudi Arabia
Neom has been hailed as the jewel in the crown of Saudi Arabia’s Vision 2030, a strategy devised to move the country’s economy away from reliance on fossil fuels and establish Saudi Arabia as an innovation and technology hub. Leaked consulting documents suggest that the multicity development will be home to a variety of next-generation innovations, including cloud seeding, fleets of flying taxis, and even an artificial moon, firmly establishing Neom as the most technologically advanced city in the world.
Touted as the world’s first net zero megacity, Neom is predicted to come at a cost of $500 billion in construction overheads alone.