Wealthy Muslims Eager to Invest Billions in Makkah, Madinah Real Estate

Survey by Knight Frank found 92% of high-net-worth Muslims plan to invest $2 billion in Makkah and Madinah real estate
Changes to foreign ownership laws, including new residency visas, aim to draw international investments
Survey respondents allocated an average budget of $4.7 million for properties in holy cities, with over $2 billion total allocation
92% of surveyed Muslims eager to buy luxury branded residences which are scarce currently in holy cities
Key demand drivers are investment potential, culture/religion, quality amenities; wider selection of property types could further boost interest