The Knowledge Economic City (KEC), a leading developer listed on the Saudi Stock Exchange (Tadawul) and operating under the supervision of the Authority for Special Economic Zones and Cities, which is contributing to the urban and economic transformation of Medina, the Saudi government’s adoption of the executive regulations for the Non-Saudi Real Estate Ownership Law and the designation of specific zones where such ownership is permitted—a historic milestone that opens a new chapter for international investment in one of Islam’s holiest cities. As one of the approved destinations in Madinah, the Knowledge Economic City is poised to welcome eligible international buyers as the implementation of the new framework progresses.
The new framework establishes a clear regulatory path that will allow eligible individuals, companies, and non-Saudi entities to own real estate within designated projects, in support of the objectives of Saudi Vision 2030 to diversify the economy, attract international investment, and strengthen the Kingdom’s real estate sector. Once it comes into effect, the framework will provide a transparent and structured home-ownership process that gives eligible buyers greater confidence and clarity throughout the various stages of the purchase.
This step takes on special significance in Madinah due to its status; for millions of Muslims around the world, the decision to own a home in Madinah goes beyond being a real estate investment— it is an aspiration, a dream, and an opportunity to forge a lasting connection with a city of great spiritual significance that holds a unique place in the hearts of Muslims worldwide. For many families, owning a home in Medina represents a lifelong aspiration and a legacy passed down from generation to generation.
A destination that combines spirituality and modern living
Once this decision is made, buyers begin searching for places to invest in Medina, as today’s buyers are no longer just looking for a home, but for a destination that combines spiritual significance with modern living, ease of mobility, world-class amenities, and long-term investment opportunities. That is why the Knowledge Economic City was established to provide the solution.
Located within the boundaries of the Holy City of Madinah, the Knowledge Economic City spans an area of over 6.8 million square meters, making it one of the largest planned integrated destinations in the Kingdom, featuring residential communities, hospitality facilities, retail, commercial offices, education, healthcare, and public spaces within an integrated urban environment designed for future generations.
The destination is connected to a state-of-the-art transportation network that provides its residents with exceptional accessibility, with its proximity to the Prophet’s Mosque, Mount Uhud, the Quba Mosque, and the Al-Qiblatayn Mosque, as well as its direct connection to the Al-Haramain High-Speed Rail Station and Prince Mohammed bin Abdulaziz International Airport, linking it to Makkah, Jeddah, and international destinations.
Many of the homes in “Al-Alya” also overlook Mount Uhud, combining modern living with one of Medina’s most prominent landmarks. The residential offering in the Knowledge Economic City follows the successful handover of the “Dar Al-Jawar” project, one of Madinah’s well-established residential communities. Today, the next chapter continues with the “Al-Alya” project, which offers eligible international buyers the opportunity to be part of one of the Kingdom’s most ambitious integrated destinations.
The “Al-Alya” project is designed to be a modern residential neighborhood that combines contemporary architecture, landscaped public spaces, family-oriented amenities, and integrated community services, creating a destination where residents can live, invest, and build their future in Madinah.
Once the new framework comes into effect, eligible buyers will enjoy a clear and transparent purchasing process. Depending on their residency status, applicants will complete the relevant government requirements before finalizing the purchase through the official real estate platform (Saudi Real Estate), and then receive the title deed upon handover. At every stage, the Knowledge Economic City sales team will be ready to provide personalized guidance and support, making homeownership simple, secure, and accessible.
The adoption of these regulations represents one of the most significant developments in the Saudi real estate sector in recent years. By expanding access for international buyers and enhancing market transparency, the new framework is expected to further cement Madinah’s position as one of the world’s most attractive destinations for faith-inspired living and long-term investment.
Hazem Al-Banna, Chief Operating Officer and Acting CEO of the Knowledge Economic City, stated, “The adoption of the Kingdom’s new property ownership framework marks a milestone for Madinah. For the first time, eligible international buyers will have a clear and transparent pathway to owning property in this exceptional city. As one of the approved destinations, we at the Knowledge Economic City look forward to welcoming buyers from around the world and offering a destination that combines faith, lifestyle, and long-term investment. Building on the success of the Dar Al-Jawhar project, and now with the Al-Alya project, we are creating communities where people can invest, belong, and be part of the future of Madinah.”
The Knowledge Economic City is seeing growing interest and inquiries from priority international markets, including the United Kingdom, the United States, Egypt, Pakistan, Malaysia, Indonesia, and the Gulf Cooperation Council (GCC) countries, reflecting the growing demand from buyers seeking to own a home in Madinah and invest in one of the Kingdom’s fastest-growing destinations.
As global awareness grows, the Knowledge Economic City will be ready to support buyers at every stage of their homeownership journey once the framework comes into effect, thereby contributing to the Saudi Vision 2030 goal of building a real estate market that is more open, diverse, and connected to the world.
