Al-Alya Project Drives Madinah Real Estate Growth

Knowledge Economic City has reported continued growth and resilience in real estate activity across Makkah and Al-Madinah Al-Munawwarah, pointing to sustained demand for mixed-use and residential projects. At the centre of this momentum is the flagship Al-Alya development in Madinah, a mixed-use project combining residential, retail and other uses within the company's masterplan.

The Al-Alya project is planned to include 1,420 residential units in total. As of 2026, 1,052 units are licensed and available for off-plan sale, while 368 units are still undergoing the licensing process. To date, 351 residential units have been sold and fully contracted, generating total contracted sales of SAR 520,674,664 — an average of roughly SAR 1.48 million

A notable share of demand is coming from international buyers. Under the Foreign Real Estate Ownership Law, non-Saudis have been able to apply to purchase units in Al-Alya since June 2026. So far, 231 units have been reserved by non-Saudi customers, with reservation values exceeding SAR 547 million — an average of about SAR 2.37 million After deducting sold and reserved units, 470 units remain available for immediate sale, with 838 units still to be offered across the entire project.

Wider Madinah pipeline

Beyond Al-Alya, Knowledge Economic City's plans in Madinah include the Islamic World District, whose initial phase covers 140,000 square metres and offers more than 5,000 hotel keys, 743 residential apartments and around 24,000 square metres of retail space. Across all its Madinah projects, the developer is undertaking more than 900,000 square metres, targeting over 14,000 hotel rooms and 7,500 residential apartments at full completion.

For residents and prospective buyers, the figures signal a growing supply of housing and mixed-use options in one of the Kingdom's most significant cities, alongside expanding opportunities for both Saudi and international ownership.

---

Stay updated with the latest news, events, sports updates, business insights, real estate and lifestyle stories on Saudi Living — the leading online platform for residents, expats, and visitors in Saudi Arabia.

Follow Saudi Living for daily updates:

• Instagram - @saudiliving
• X - @saudiliving
• Facebook - @saudiliving
• YouTube - @saudiliving