{"id":100759,"date":"2025-09-21T00:00:00","date_gmt":"2025-09-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/09\/21\/laheq-island-to-test-luxury-market-appeal\/"},"modified":"2025-09-21T00:00:00","modified_gmt":"2025-09-21T00:00:00","slug":"laheq-island-to-test-luxury-market-appeal","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/09\/21\/laheq-island-to-test-luxury-market-appeal\/","title":{"rendered":"Laheq Island to test luxury market appeal"},"content":{"rendered":"

<\/strong>The international press is keepin<\/strong>g tabs on Red Sea\u2019s Laheq Island as a test of the <\/strong>Kingdom\u2019s ability to compete for elite holiday-home demand.<\/strong> Bloomberg<\/a> reported on the ring-shaped archipelago being developed by PIF-backed Red Sea Global, which is intended to lure foreign investment and establish the Kingdom as a high-end tourism destination, moving faster than some other giga-projects like Neom.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

Demand for Laheq project is solid<\/strong>, the business information service quoted Red Sea Project\u2019s head of development Stephen Cheesebrough, as the Red Sea Global expects SAR 2 bn in sales this year and has already attracted international buyers, including an unnamed UK Premier League footballer. The 400-hectare project will include 528 villas and 221 apartments priced between USD 1.5 mn and USD 40 mn, alongside a golf course, marina, beach club, and two hotels, Cheesebrough said.<\/p>\n

BUT- Bloomberg alluded to the ultra luxury property market in Saudi being \u201cstill in its <\/strong>infancy\u201d compared to Dubai<\/strong>, with social restrictions such as the alcohol ban posing hurdles to drawing global ultra-wealthy buyers, according to Faisal Durrani, head of Middle East research at Knight Frank.<\/p>\n","protected":false},"excerpt":{"rendered":"

The project\u2019s southern section is expected to open in 2028<\/p>\n","protected":false},"author":1,"featured_media":100760,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2561],"tags":[10,4510,106,181,229,7],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-100759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-saudi-in-the-news","tag-enterpriseam-ksa","tag-laheq-island","tag-real-estate","tag-red-sea-global","tag-saudi-in-the-news","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"0896b7d5-5bbb-4503-8612-8c194f232568","order":"11","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/9\/1152.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Laheq Island to test luxury market appeal","related_issue":[100740],"teaser":"The project\u2019s southern section is expected to open in 2028","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/9\/.a394427d-accd-4128-977a-d02176f381d3.mp3"},"yoast_head":"\nLaheq Island to test luxury market appeal - 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