NEOM Real Estate — Can Foreigners Invest? (2026 Update)

NEOM's original $500B plan has been significantly scaled back. Here's the honest picture for foreign investors: what's paused, what's still happening, and what the risks are.

Non-Resident · Key points for your situation

› Power of attorney required if you can't attend the notary in person

› Saudi bank mortgages not available to non-residents — plan for a cash purchase

› Verify the property is within a REGA-designated zone before proceeding

› Budget 7–10% above the purchase price for total transaction costs

Iqama Holder · Key points for your situation

› Your Iqama is accepted across all government systems — Absher, REGA, Ministry of Justice

› Attend the notary in person — no power of attorney needed

› Mortgage may be available from select Saudi banks — typically up to 70% LTV

› Ensure your Iqama has at least 12 months validity before starting

The Honest Picture (April 2026)

NEOM was announced in 2017 as a $500 billion city and economic zone in northwest Saudi Arabia. As of April 2026, the project is undergoing a major strategic review with its original ambitions significantly reduced.

Bottom line for investors: There is no public property market in NEOM. The project’s future scope is uncertain. Treat any investment opportunity claiming NEOM exposure with extreme caution.

What Has Changed Since the Original Announcement

Element	Original Plan	Current Status (April 2026)
The Line	170km linear city, 9M residents	Scaled back to a fraction; construction slowed
Trojena	Ski resort, 2029 Asian Winter Games host	Large contracts cancelled; games moved to Kazakhstan
Budget	$500B announced	Internal audit suggested costs could reach $8.8T
Workforce	Thousands of staff	Hundreds of direct employees laid off; 1,000+ relocations planned
Timeline	2030 phase 1 target	No credible new timeline published
Saudi 2026 Budget	Expected inclusion	No mention of NEOM in pre-budget statement

Saudi Arabia’s PIF chief said in April 2026 that projects are “delayed, not cancelled.” A new oversight unit was created in January 2026 to improve cost control and governance.

Foreign Investment in NEOM

No open market exists. Despite NEOM’s stated intention to allow foreign ownership, no public residential sales have launched. The regulatory framework — originally designed as a special economic zone with liberal foreign ownership rules — has not been activated for public sales.

Risks if you are approached about NEOM investment:

No legitimate broker can sell you a NEOM property today
Be very wary of off-plan schemes claiming NEOM affiliation
Wait for official announcements via neom.com and REGA

What Sindalah Is Doing

Sindalah — the luxury yacht island component of NEOM — appears to be the sub-project furthest along. Construction has continued here more than on The Line. It targets ultra-high-net-worth buyers and yacht owners. No public sales have been announced but this is the area most likely to produce the first legitimate NEOM property offering.

What We Will Update You On

When legitimate NEOM property sales open, we will publish a detailed guide. Subscribe to our newsletter to be notified.

In the meantime, if you want to invest in a Saudi mega-project with active sales and real traction, see:

Diriyah → — $4B+ in residential sales already transacted
Red Sea Project → — first resorts open, foreign freehold available
KEC Medina → — open to Muslim buyers now

Frequently Asked Questions

Can foreigners buy property in NEOM? +

No public residential property sales exist in NEOM as of April 2026. The project has been significantly scaled back and is undergoing a strategic review. Foreign ownership was always part of the stated plan, but no sales mechanism has launched. Do not send money to anyone claiming to sell NEOM property — no open market exists.

Is NEOM cancelled? +

Saudi Arabia's PIF chief stated in April 2026 that NEOM projects are 'delayed, not cancelled.' However, the original scope has been dramatically reduced. The Line is now planned as a fraction of its original 170km. The Trojena ski resort project had large contracts cancelled after losing the 2029 Asian Winter Games to Kazakhstan. A strategic review is underway with a significantly smaller vision.

What happened to The Line? +

The Line was originally planned as a 170km linear city for 9 million people. Construction has slowed significantly. The initial phase is expected to be a small fraction of the original plan. Internal documents reported in 2025 suggest the full cost could reach $8.8 trillion — far beyond original estimates — leading to a fundamental rethink of the project's scope.

What happened to Trojena? +

Large tunneling contracts and other Trojena ski resort contracts were cancelled in early 2026. Kazakhstan replaced NEOM as the host of the 2029 Asian Winter Games after it became clear the resort would not be ready.

Where is NEOM located? +

NEOM is located in the Tabuk Region in northwest Saudi Arabia, near the borders with Jordan and Egypt, on the Red Sea and Gulf of Aqaba coastline.

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