SUBSCRIBE
Home Buying & Selling Navigating Saudi Arabia Where to Settle Down

Navigating Saudi Arabia Where to Settle Down

Laurence
-
0
Navigating Saudi Arabia Where to Settle Down



Exploring Saudi Arabia as a Potential Home

When considering Saudi Arabia as a potential home, key factors such as cost of living, cultural norms, regional differences, and climate play a crucial role. The cost of living varies across regions, with cities like Riyadh and Jeddah being more expensive than smaller towns. However, overall, it is approximately 47.98% lower than in the United States1, making your income stretch further.

Saudi Arabia is a mosaic of diverse regions. The western region offers a cosmopolitan experience, the eastern province presents opportunities in the oil industry, and the central region is the heartbeat of politics and administration.

The country offers several advantages such as tax-free income and high-quality healthcare and education services. However, strict adherence to Islamic law may impact lifestyle choices, particularly for women. The scorching desert climate, with temperatures soaring above 45C2, can also be challenging.

In conclusion, Saudi Arabia offers a unique blend of opportunities and challenges. It’s crucial to understand and respect the cultural norms, adapt to the climate, and be aware of the challenges that may arise.

Understanding the Saudi Institutional Setup

Saudi Arabia’s institutional setup is a captivating blend of monarchy and religion, creating a unique system that sets it apart from many other countries3. The King reigns as both the head of state and the leader of the Sunni Muslim faith, influencing all aspects of life. The legal system is based on Islamic law, known as Sharia, shaping the rules and regulations that govern society.

Compared to countries with civil or common law systems, Saudi Arabia’s legal framework is deeply rooted in religious principles. The Council of Ministers, the King’s trusted advisors, and the Consultative Assembly, also known as the Shura Council, play crucial roles in shaping the kingdom’s future.

This setup can have a profound impact on the decision to settle in Saudi Arabia. The stability and security provided by a centralised system can be alluring. However, it might also pose challenges for those accustomed to more democratic societies, where freedom of speech and political participation are more prevalent4. Understanding Saudi Arabia’s institutional setup is crucial for anyone considering making it their home.

Assessing the Quality of Life in Saudi Arabia

Living in Saudi Arabia offers a unique blend of tradition and modernity, with the quality of life significantly influenced by its institutional setup. The cost of living is relatively affordable, especially when compared to many Western countries. For instance, a one-bedroom apartment in the city centre averages around SAR 1,879.67 per month5, and a hearty meal at a local restaurant costs around SAR 30-50 per person.

The country takes pride in its high-quality healthcare services, with public healthcare services provided free of charge to Saudi nationals. Expatriates also have access to these services through affordable health insurance. The government’s significant investments in healthcare infrastructure have resulted in state-of-the-art medical facilities and skilled healthcare professionals.

Education is another area where Saudi Arabia excels. The government provides free education from kindergarten to university for all Saudi citizens, with a commendable focus on science and technology. Generous scholarships are also offered for Saudi students to study abroad.

The government’s commitment to improving various aspects of society through initiatives like Vision 2030 further enhances the quality of life for its citizens. This commitment is evident in the country’s economic diversification, healthcare improvements, and educational advancements6.

Evaluating the Culture of Saudi Arabia

Saudi Arabian culture, deeply rooted in Islamic traditions, weaves a unique societal tapestry. The cultural norms, such as the conservative dress code and gender segregation, significantly impact the quality of life7. The conservative dress code, symbolised by women’s ‘abaya’, fosters unity and shared values, while gender segregation, aimed at preserving modesty, shapes social interactions. These norms contribute to Saudi Arabia’s rank of 21st in the World Happiness Report 2021, reflecting the strong sense of community and family values. However, these norms may pose challenges for those seeking personal freedoms and gender equality. The decision to settle in Saudi Arabia requires careful consideration of these cultural norms and personal values. The ongoing Vision 2030 initiative, aimed at diversifying the economy and society, is gradually reshaping the cultural landscape, making it more appealing to foreign residents8.

Exploring the Economy of Saudi Arabia

Saudi Arabia’s economy, like a mighty river, has long been fueled by the oil industry, contributing to around 90% of the country’s revenue9. This reliance has shaped the job market, with sectors such as engineering, IT, healthcare, and finance offering lucrative opportunities. However, the Vision 2030 initiative is ushering in change, diversifying the economy and fostering entrepreneurship. Sectors such as tourism, entertainment, and renewable energy are emerging as new job creators.

The oil wealth has significantly influenced the quality of life and cultural norms. The government has invested in infrastructure, healthcare, and education, leading to a high standard of living. However, this prosperity has also fostered a culture of dependency on the state for employment, with a preference for public sector jobs. The Vision 2030 initiative aims to reshape these norms, promoting private sector employment and gender equality10.

The economy’s transformation is also impacting consumer behaviour. The oil wealth has attracted a consumerist culture, valuing material success. This focus, however, can contribute to social inequality. The diversification of the economy is gradually reshaping these norms, fostering a more vibrant and dynamic society.

Understanding the Geography of Saudi Arabia

Saudi Arabia, a land of enchanting contrasts, is shaped by its diverse geography. The major cities, including the vibrant capital, Riyadh, the bustling coastal city, Jeddah, and the oil-rich Dammam in the Eastern Province, each offer unique opportunities influenced by their geographical location11. The vast Rub’ al Khali desert, rich in oil reserves, has made Saudi Arabia a leading global oil producer, creating numerous job opportunities in the energy sector12. Conversely, the coastal regions, with their moderate climate and access to the Red Sea, have become hubs for tourism, trade, and fishing.

When considering settling in Saudi Arabia, its geography plays a pivotal role. The allure of the desert and the wealth of the oil industry may attract some, while others may prefer the moderate climate and vibrant city life of the coastal regions. Thus, the decision to make Saudi Arabia your home is intertwined with its captivating geography, shaping your lifestyle and career prospects.

Examining the FiveYear Plan in Saudi Arabia

The Five-Year Plan in Saudi Arabia is a strategic initiative aimed at transforming the nation’s economy and geographical landscape13.

One of the plan’s key objectives is to develop mega projects, like the $500 billion NEOM city and the luxury Red Sea Project, which attract foreign investment and create jobs, contributing to economic growth14.

The plan also plays a significant role in shaping Saudi Arabia’s economy and geography. Economically, it aims to increase the private sector’s contribution to GDP from 40% to 65%. In 2019, non-oil sectors experienced a 3.6% increase in GDP, demonstrating the plan’s effectiveness15.

Geographically, the plan capitalises on Saudi Arabia’s unique features, like its vast deserts and stunning coastlines, to attract tourists and investors. The Red Sea Project, for instance, transforms islands into luxury tourism destinations, showcasing the country’s rich marine ecosystems16.

analysing the Saudi Real Estate Market

The Saudi Real Estate market is currently in a transformative phase, aligning with the country’s Vision 2030 plan17. This plan aims to diversify the economy and reduce dependence on oil, with the real estate sector playing a pivotal role. As real estate expert Ahmed Al-Khateeb puts it, “The Saudi Real Estate market is becoming increasingly attractive for both local and foreign investors, thanks to the government’s ambitious Vision 2030 plan.”

The government’s commitment to increasing homeownership, through initiatives like the Sakani programme, is making homeownership more accessible. This is influencing decisions to settle down in the kingdom, as it provides a sense of stability and security. However, challenges such as high property prices and a young population mean that demand for affordable housing outstrips supply18. This is a pressing issue that needs to be addressed to ensure that everyone has access to quality housing.

Despite these challenges, the Saudi Real Estate market remains an attractive destination for both locals and foreigners, offering a wide range of housing options, from affordable units to luxury villas.

Understanding the Laws Governing Real Estate Ownership

The laws governing real estate ownership and investment by non-Saudis in Saudi Arabia have undergone a significant transformation in recent years19. This shift has opened up a new frontier of opportunities, transforming the Saudi real estate market into a vibrant oasis of investment possibilities. The ability for non-Saudis to own property has stimulated demand, leading to increased construction activity and higher property values.

But the impact goes beyond the market dynamics. It influences the decision of non-Saudis to settle down in the Kingdom. Owning property provides a sense of security and permanence, making Saudi Arabia an attractive destination for expatriates. For instance, consider the storey of Ahmed, an expatriate who now owns a beautiful apartment in Riyadh, a place he can truly call his own. This sense of ownership has made Saudi Arabia feel more like home to Ahmed, encouraging him to settle down and build a life in the Kingdom.

However, there are still limitations to consider. Non-Saudis are restricted from owning property in the holy cities of Mecca and Medina, and the process of obtaining a licence from the Ministry of Investment of Saudi Arabia (MISA) can be time-consuming20.

Evaluating the Cost of Living in Saudi Arabia

When evaluating the cost of living in Saudi Arabia, housing and transportation costs are key considerations. In major cities like Riyadh and Jeddah, monthly rent for a city-centre one-bedroom apartment ranges from SAR 1,500 to SAR 3,000, dropping to SAR 1,000 to SAR 2,000 outside the city21. Buying property, with city-centre prices per square metre from SAR 4,000 to SAR 9,000, has become more accessible due to changes in laws allowing foreigners to own property22.

Transportation costs are relatively low, with petrol at SAR 2.18 per litre and a one-way public transport ticket costing around SAR 3.

These costs, coupled with the potential for property ownership, influence the decision to settle in Saudi Arabia. The country offers a high standard of living, tax-free income, and a rich cultural experience. However, personal financial situation, lifestyle preferences, and family needs should be considered. It’s crucial to conduct thorough research, consult with financial advisors, and visit the country to experience the cost of living firsthand.

Exploring the Job Market in Saudi Arabia

Saudi Arabia’s job market offers opportunities across various sectors, including traditional powerhouses like oil and gas, and emerging fields like healthcare, finance, IT, and education23. The job market’s dynamics significantly influence the cost of living and the economy, with high-paying sectors like oil and gas and finance potentially leading to a comfortable lifestyle. However, the cost of living in major cities like Riyadh and Jeddah can be relatively high.

The government’s Vision 2030 initiative aims to diversify the economy and is expected to stabilise the cost of living, making it easier for individuals to settle and thrive in Saudi Arabia24. The job market also influences the decision to settle in Saudi Arabia, with expatriates drawn by tax-free salaries, comprehensive benefits, and career advancement opportunities. However, the recent Saudization policy, aiming to replace expat workers with Saudi nationals, adds a twist to the tale.

Making the Decision to Settle Down in Saudi Arabia

Making the decision to settle down in Saudi Arabia is like embarking on an exciting new journey. The country’s institutional setup, designed to welcome foreigners, and the dynamic job market, fueled by the Vision 2030 initiative, create a landscape ripe with opportunities.

The key takeaways from exploring Saudi Arabia as a potential home are the country’s rich cultural heritage and high standard of living.

For those considering this adventure, the next steps involve thorough research about the lifestyle, cost of living, and job opportunities in different cities. Securing a job is crucial as it’s tied to your visa and residency status. Navigating the visa and residency process is important. Understanding the cultural nuances and networking with people already living in Saudi Arabia can provide invaluable insights.

Citations

Property Saudi Arabia is the premier source for real estate insights in the Kingdom. Specialising in property trends, investments, and mega projects, we provide an in-depth look into the evolving landscape. Catering to both locals and expatriates, our platform offers valuable information on living and lifestyle in Saudi Arabia. Trust us for insights and timely and real estate news.

Categories

Quick Links

Copyright 2023 Property Saudi Arabia