Red Sea Global to Sell Luxury Homes Alongside Saudi Hotels

Key Points

• Red Sea Global has announced Laheq Island, a luxury residential and hospitality development opening in 2028, featuring homes, resorts, and premium amenities.
• Branded residences are being used as a capital-raising tool, with similar models succeeding in Dubai and at Saudi Arabia's Diriyah Gate project.
• Saudi Arabia is easing property ownership restrictions for foreign investors, with new rules allowing ownership outside Makkah and Madinah for non-commercial use.

Summary

Red Sea Global has introduced Laheq Island, its first major residential project in Saudi Arabia, set to open in 2028 with luxury homes, resorts, and high-end facilities. The development, part of the larger Red Sea destination, leverages the growing market for branded residences—mirroring successful strategies in Dubai and at Diriyah Gate—to attract investment and diversify revenue. Recent regulatory changes are making it easier for foreigners to purchase property in Saudi Arabia, supporting the country's Vision 2030 goals.