Dubai, UAE, 29 March 2026
Major Developments hosted the official partnership signing ceremony with Mortix Mortgage Broker at its Dubai headquarters, marking a strategic step toward making homeownership and real estate investment more seamless for clients across the world.

The partnership brings together Major Developments’ high-demand portfolio with Mortix’s mortgage expertise, allowing Major Developments’ clients to access free mortgage services as part of a broader, more investor-friendly purchase journey. Mortix is a digital mortgage and home finance platform in the UAE that supports both residents and non-residents, working with 20+ leading UAE banks across solutions, including home loans, refinancing, handover payments, and equity release. Its brokerage support is offered free of charge, making financing guidance more accessible at a crucial stage of the transaction.

For Major Developments, this collaboration reflects a larger vision: building an ecosystem around ownership, not merely developing property. As international demand continues to build around projects such as Manta Bay on Al Marjan Island and Colibri Views in RAK Central, the partnership is designed to help investors move from intent to action with greater speed and confidence.

The timing is especially significant. Mortix’s 2026 UAE mortgage market review highlights that Dubai recorded approximately 44,000 mortgage transactions in 2025, with total mortgage volumes reaching AED 89.6 billion, while fixed mortgage rates at the end of 2025 stood in the 3.75% to 4.25% range.

With another anticipated launch, Ice Beach on Marjan Beach, set to further expand Major Developments’ footprint in the UAE, this partnership stands as a meaningful bridge between aspiration and acquisition, helping investors enter fast-moving markets earlier and more efficiently.

Oleg Ilyin, CEO and Co-founder of Mortix Mortgage Broker, said, “This partnership reflects exactly where the UAE property market is headed, toward a more connected, transparent, and investor-ready experience. Major Developments has created projects that are drawing strong international attention, and Mortix is proud to support that momentum by making mortgage access simpler, faster, and more approachable for buyers across different markets.”

Andrei Charapenak, CEO of Major Developments, said, “At Major Developments, the vision has always been larger than delivering exceptional real estate. It has been about creating the right environment around ownership, one that makes the journey clearer, more supported, and more confidence-led for every investor who chooses to enter this market with us. The partnership with Mortix is a natural extension of that thinking. As interest in the UAE continues to grow, especially in high-potential destinations such as Ras Al Khaimah, this collaboration allows Major Developments to serve clients more meaningfully, not only by offering distinctive developments, but by helping simplify the path that leads to them.”

As the UAE continues to attract a new generation of globally minded investors, partnerships such as this underline a larger shift in the market, where the value lies not only in what is being developed, but in how thoughtfully the entire ownership journey is being shaped. For Major Developments, the partnership with Mortix signals a continued commitment to making investment in the UAE more intuitive, supported, and future-ready.

 The UAE is set to add around 390,000 new homes by 2030, marking one of the largest residential expansion cycles in recent years, according to a new industry report. The first-ever Alpen GCC Real Estate 2026 report by Alpen Capital shows the country’s residential stock rising from approximately 1.08 million units to about 1.47 million units by the end of the decade.

Dubai is expected to account for the majority of this pipeline, with apartment-led mixed-use communities continuing to dominate new launches, while Abu Dhabi focuses more on premium villas and waterfront neighbourhoods.

Across the GCC, residential supply is expected to increase from approximately 6.26 million units in 2025 to 7.28 million units by 2030, with Saudi Arabia and the UAE accounting for the bulk of the supply.

Saudi Arabia’s residential supply is estimated to grow by 499,000 units between 2025 and 2030, reaching 3.45 million by 2030. Giga projects in Riyadh and Jeddah are expected to fuel this growth.

Sustained growth

According to the report, the GCC’s real estate landscape has undergone a transformation, driven by national agendas to diversify and build a resilient economy. “Dubai has led this transformation, establishing itself as a global metropolis fuelled by foreign ownership, massive infrastructure investments and ambitious strategies,” said Sameena Ahmad, Managing Director, Alpen Capital.

“Over the next few years, the region’s real estate industry is expected to witness a steady supply across the residential, commercial, hospitality and retail segments, largely supported by continued government spending and investments in building a world-class infrastructure,” she added.

But what does this mean for rents?

A supply increase of this scale typically shifts the balance between landlords and tenants. The report stated that supply growth in the GCC is becoming more “structured” and increasingly aligned with demand rather than speculative expansion. That could reduce the risk of sharp, sudden corrections.

However, with nearly 390,000 additional homes entering the UAE market over five years, rental growth is likely to moderate if deliveries outpace new household formation.

The study highlights that population growth, expatriate inflows and urbanisation remain strong demand drivers.

The UAE’s population, according to Worldometer, has surpassed 11 million in 2025. There isa continued inflow of expatriates and high-net-worth individuals supporting both mid-tier and luxury segments

If those inflows remain steady, the additional supply may ease pressure without triggering a widespread rent correction. But in sub-markets where deliveries cluster heavily, tenants could gain greater negotiating power. Will property prices grow or drop

The report from Alpen stated that supply across the GCC is entering a more disciplined phase, with greater emphasis on mixed-use developments, asset quality and long-term livability.

“Over the coming years, we expect supply–demand dynamics across the GCC to become more balanced. Large-scale developments are being phased more strategically, with a clear emphasis on quality, mixed-use formats, and demand-led execution. We are witnessing that development trends are shifting towards master-planned, sustainable, and technology-enabled communities focused on long-term liveability,” said Sharmin Karanjia, Executive Director, Alpen Capital.

“While certain sub-markets may experience short-term oversupply pressures, well-located and high-quality projects are likely to continue seeing strong absorption and pricing support,” she said.

“Going forward, as major development zones reach operational maturity, investors will have a broad base of high-quality assets maintaining interest from both regional and international buyers”, said Sharmin.

What’s next?

High disposable incomes, steady population growth, expatriate inflows, and a favourable tax environment will remain key demand drivers across the region.

The report stated that future development pipelines will feature mixed-use projects, enhanced asset quality, sustainability, and the integration of residential, commercial and lifestyle components.

Saudi Arabia and the UAE are expected to account for the majority of the upcoming supply, while other GCC markets pursue more targeted and selective growth strategies.

In the commercial segment, office supply across the GCC is estimated to expand from 33.3 million sqm in 2025 to 42.4 million sqm by 2030, with over 65 per cent of new supply delivered in Saudi Arabia and the UAE, as per the existing pipeline.

GN

Foreigners, for the first time, are allowed to buy property in Saudi Arabia from January 2026, marking one of the most significant shifts in the Kingdom’s real estate policy in decades. The new law, approved in July 2025, permits non-Saudis to own property within designated zones, opening the door to expats, regional investors and international buyers who until now could only rent or access limited ownership structures.

Who moves first when ownership opens

Early demand is expected to come from expats already living and working in the Kingdom. High-income professionals in Riyadh and Jeddah face sustained rental pressure and now see a realistic path to ownership.

“The earliest beneficiaries are likely to be well-established expats already living and working in Saudi Arabia, particularly higher-income professionals in Riyadh and Jeddah who are facing sustained rental pressure and now have a viable path to ownership,” said Arran Summerhill, COO and co-founder of Holo.

This group already understands local neighbourhoods, employment conditions and regulatory expectations, lowering the friction that often slows first-time buyers in new markets. Rental pressures have been strong enough to prompt authorities to introduce a five-year rent cap in Riyadh, highlighting how tight the residential market has become.

A second wave is likely to include regional and international investors, particularly from the GCC, seeking early exposure to Saudi Arabia’s long-term growth under Vision 2030. These buyers are expected to move carefully, prioritising regulatory clarity, asset quality and long-term fundamentals over short-term gains.

A third segment includes Muslim buyers globally, where ownership in the Kingdom carries both financial and personal significance. “From our perspective, having been active in the Saudi market for over two years, early demand patterns point clearly toward capitalised, intentional buyers who value process certainty and asset quality over speed,” Summerhill said.

No rush, but steady uptake

Despite the scale of the policy shift, expectations of a sudden buying surge may be misplaced. The Saudi framework is more controlled, with ownership opening within designated zones rather than across wide swathes of the market.

“This is more likely to be a measured, selective uptake rather than a sudden surge,” Summerhill said. Resident expats with stable income streams are expected to lead during the first year, while international buyers observe how approvals, financing and resale rules function in practice.

Economic conditions support steady rather than speculative demand. The IMF forecasts Saudi Arabia’s real GDP growth at about 4.0% in 2026, driven largely by non-oil sectors. That backdrop supports household formation and long-term housing demand, rather than rapid trading activity.

Momentum could broaden in the second year if transaction processes smooth out and lenders become more comfortable offering mortgages to foreign buyers. Even then, demand is expected to remain fundamentals-led.

Riyadh first, Jeddah next

Geography will matter. Riyadh is widely expected to feel the earliest impact, combining job creation, income concentration, population growth and rental pressure. Residential momentum has already been strong, with villa prices rising more than 11% year on year in 2025 and transaction volumes increasing quarter on quarter.

Jeddah is likely to follow, appealing to lifestyle-driven buyers and international demand. Transaction volumes in the coastal city rose more than 10% year on year in 2025, while price growth remained more moderate, often making it an attractive entry point for foreign buyers.

Demand is expected to focus overwhelmingly on residential property, particularly homes within professionally managed communities. Commercial and mixed-use assets may draw institutional interest later, but individual expat buyers are likely to prioritise homes over income-producing assets in the early phase.

Designated zones matter

Foreign ownership will initially be limited to designated geographic zones overseen by the Real Estate General Authority. These zones act as a gateway, allowing Saudi Arabia to attract foreign capital while maintaining market stability and regulatory control.

Once the final list of zones and implementing regulations is confirmed, demand is expected to concentrate in a small number of locations offering transaction clarity, community standards and resale confidence. Broader expansion is likely to come gradually as the market matures.

Risks buyers should not ignore

Before making the purchase, the buyers should be aware of the process, as assumptions present the biggest risk. While the law creates a legal pathway, clarity around approvals, fees, ownership structures and resale rights will determine how smooth the experience is in practice.

Liquidity also deserves attention. Early-stage ownership markets tend to have thinner resale depth, making a longer-term holding horizon more realistic than quick exits. “This is where local execution experience matters,” Summerhill said, pointing to the importance of understanding how policy translates into transactions on the ground.

How it compares to the UAE

UAE citizens and expats are eligible to buy under the new framework, according to Zacky Sajjad, director of business development and client relations at Cavendish Maxwell. Ownership is permitted within approved areas, while certain locations, including Makkah and Madinah, remain subject to tighter restrictions.

“Saudi Arabia’s model is newer and more regulated,” Sajjad said. Buyers should expect greater emphasis on approvals, compliance checks and evolving guidance. The UAE, by contrast, offers a more mature and globally familiar investment environment.

Sajjad advises UAE-based buyers to approach Saudi Arabia with a long-term mindset. Due diligence remains critical, particularly around approved zones, resale rules, taxation, registration and financing availability.

A shift in how expats plan their lives

Ownership has the potential to reshape how expats think about living in the Kingdom. Property ownership shifts Saudi Arabia from a temporary posting to a place where longer-term wealth planning becomes viable.

This aligns with national goals. Saudi Arabia targets a 70% homeownership rate by 2030, with official data showing the figure reached about 65% by 2024. Foreign ownership adds market depth and supports a more institutionalised residential ecosystem.

“This reform should be viewed less as a short-term demand catalyst and more as a structural step in the long-term maturation of Saudi Arabia’s real estate market,” Summerhill said.

Saudi Arabia is expected to require more than 1.5 million new housing units by 2030, with nearly half of that demand concentrated in Riyadh. Clear zone definitions, consistent transaction processing and confidence in resale markets will matter a lot.

Handled carefully, foreign ownership could reposition Saudi Arabia as a credible long-term residential market for residents and international buyers alike, encouraging deeper settlement, capital formation and a more sustainable housing ecosystem over the next decade.

GN