Case Study · Jeddah, Saudi Arabia

Four Seasons
Private Residences

By Midad · Jeddah at the Corniche · Red Sea
From
SAR 7M
Residences
64
Location
Jeddah Corniche
Tenure
Freehold

"This is a trophy asset, first and foremost. The Four Seasons name on Jeddah's Corniche. First generation of branded freehold product in the city. Sixty-four residences, near-zero competition at this specification level. The brand, the location and the Vision 2030 demand tailwind are all aligned. This is not a trade. It is a significant asset that will be worth more in ten years than it is today, in a market that is still finding its floor."

My Verdict
★ Top Pick
01
Developer Track Record

Midad — built for the new Jeddah.

Midad Real Estate is a Jeddah-based developer established in 2003, operating at the premium end of the Kingdom's residential market. The Four Seasons Private Residences Jeddah is their flagship project. A deliberate positioning statement at the highest tier of the Saudi luxury market, executed in partnership with one of the most exacting hospitality brands in the world.

The Four Seasons relationship matters here beyond the brand name. Four Seasons imposes strict design, specification and operational standards on any developer who carries their logo. The building. Four interconnected towers framing a majestic interior terraced garden, fronting the Red Sea. Has already delivered on this standard architecturally. The residences are managed under the Four Seasons private residences programme: owners access full hotel services, housekeeping, concierge and F&B without being hotel guests.

Midad's concentration on a single flagship project of this calibre, rather than a high-volume pipeline, is consistent with the profile of a developer who has staked their reputation on delivery. That is worth something when assessing execution risk in a market as early-stage as Saudi luxury residential.

Residences
64
Structure
4 Towers
Brand
Four Seasons
Handover
2027
02
Comparable Returns

What the comparable data shows.

Saudi Arabia's residential market is at an early but accelerating stage of formalisation. The freehold reforms under Vision 2030 have opened the market to foreign ownership for the first time. And the ultra-premium branded residence segment has almost no comparable supply. Four Seasons Jeddah is effectively the first product of its tier in the city.

The closest comparable in the region is Four Seasons Private Residences in Riyadh. Where units have appreciated meaningfully from launch to near-completion, driven by constrained supply at the top tier and sustained demand from Saudi ultra-HNW buyers, regional family offices and Gulf-based investors seeking a Saudi footprint ahead of full market maturity.

Jeddah's position as Saudi Arabia's commercial and lifestyle capital. Home to the kingdom's largest port, primary financial institutions, and the gateway to the Grand Mosque in Makkah. Gives it a permanent demand base that Riyadh does not fully replicate. The Corniche is Jeddah's most recognisable waterfront address. Supply of freehold, branded, Red Sea-facing residences at this specification level: near zero.

Branded Supply
Near Zero
Market Stage
Early Access
Vision 2030
2030 Delivery
Demand Base
UHNW

Note: Saudi Arabia's luxury residential market has limited published transaction data. Comparable assessments draw on Riyadh Four Seasons launch data, regional branded residence premiums and broker-reported intelligence. Treat as directional, not precise.

03
Income & Yield

This is not a yield product. That is the point.

Buying Four Seasons Private Residences Jeddah for income from year one is the wrong framing. Saudi Arabia's luxury rental market is nascent. The data does not yet exist to project reliable yields on this asset class in this city. Anyone quoting you a confident yield number on this project is guessing.

The investment thesis here is trophy asset and capital appreciation on a flip at or post-completion. The Four Seasons brand imposes a quality covenant on the developer for the life of the asset. Saudi branded residence supply is near zero. Founding-price entry into a first-generation luxury market is the argument — not rental income.

  • Reference unit: 2-bedroom, SAR 9M purchase price (~$2.4M USD)
  • Four Seasons managed rental programme available: owners may opt in to the hotel pool. Directional yield reference: Four Seasons Riyadh short-stay comparable at 4–6% gross (highly variable, early data)
  • Service charge: not yet confirmed. Estimate SAR 150–250 per sqm per annum based on comparable managed buildings
  • Net yield if opted in: treat 3–5% as a floor only, not a projection. The rental market will deepen over time

If yield is your primary metric, this is not the right product. If you are buying a trophy asset with a credible appreciation case on a 5–10 year horizon, this warrants serious attention.

04
Appreciation Thesis

Why this should hold its value.

Three compounding factors make the capital appreciation case here durable over a medium-to-long horizon.

Saudi market timing. The Kingdom's residential market has opened to foreign ownership in key zones for the first time under Vision 2030. Foreign investors are at the beginning of their discovery curve. The buyers who move first into a market-opening event with a trophy-grade product consistently capture the largest appreciation. Four Seasons Jeddah is that product.

Scarcity of branded residences on the Corniche. Jeddah's Corniche is a finite waterfront. There is no equivalent expansion land immediately adjacent. The Four Seasons building's four-tower architecture with interior garden court occupies a substantial frontage plot. There will not be another Four Seasons on this stretch. Scarcity at this address level is permanent.

Vision 2030 as structural demand driver. Saudi Arabia is targeting 100 million tourists annually by 2030, building out its entertainment, hospitality and lifestyle infrastructure at an unprecedented pace. Jeddah is one of the primary beneficiaries. As the country's commercial capital and the gateway to Makkah and Madinah, it sits at the intersection of business travel, pilgrim infrastructure and leisure development. The demand tailwind for premium real estate in Jeddah is a government policy commitment, not a market cycle.

Vision 2030 Target
100M tourists
Corniche Supply
Finite
Market Opening
Early stage
Investment Horizon
5–10 years
05
Risks

What could go wrong.

Market immaturity
Saudi Arabia's luxury residential market is early-stage. Transaction data is limited, comparables are thin, and the resale market for branded residences is not yet liquid. Investors should be comfortable holding for 5–10 years without a guaranteed exit mechanism at a known price.
Regulatory and political risk
Saudi Arabia has moved faster on reform than any comparable market in the region over the past five years. But the pace and direction of change is ultimately determined by government policy. Freehold ownership rights, repatriation of capital and foreign ownership rules are all subject to continued policy evolution. I believe the direction is positive, but the mechanism is less certain than in the UAE.
Currency risk (SAR/USD peg)
The Saudi Riyal is pegged to the USD. For USD-based or AED-based investors this reduces currency risk substantially. But investors transacting in GBP, EUR or other currencies carry full FX exposure over the investment horizon.
Developer track record
Midad is a credible developer, but this is their flagship project and Saudi Arabia has limited precedent for developments of this complexity and specification. The Four Seasons brand provides a quality and delivery backstop. But investors should note that delivery timelines in the Kingdom can be affected by government project prioritisation, labour availability and supply chain factors.
Yield expectations
Do not buy this project expecting strong rental income from handover. The luxury serviced residence rental market in Jeddah is nascent. Projected yields at 3–5% gross are directional estimates only. Actual yields will depend on the pace at which Jeddah's high-end tenant market develops post-completion.
06
Pricing & Residences

64 residences.
Six configurations.

From 1-bedroom residences at SAR 6.7M through to full-floor 6-bedroom sky mansions at SAR 52M+. Every residence carries the Four Seasons specification standard. Finishes, fixtures, layout quality and service infrastructure at the level the brand requires globally. The 5-bedroom full-floor units offer 360-degree Red Sea views; the 6-bedroom at 1,132 sqm is among the most significant private residences in Jeddah by any measure.

Type Area Starting Price Note
1 Bedroom 167 sqm SAR 7M ~$1.87M USD
2 Bedroom From 279 sqm SAR 9M ~$2.4M USD
3 Bedroom From 300 sqm SAR 11M ~$2.93M USD
4 Bedroom From 430 sqm SAR 16–20M ~$4.27–5.34M USD
5 Bedroom. Full Floor From 550 sqm SAR 22M 360° Red Sea views
6 Bedroom. Sky Mansion 1,132 sqm SAR 52M+ Largest in Jeddah

Payment Plan

Stage When % of Purchase Price
Down Payment On signing 35%
of which: deposit At contract 15%
of which: completion premium At contract 20%
Second Payment 35% construction completion 15%
Third Payment 55% construction completion 20%
Fourth Payment 80% construction completion 15%
Fifth Payment 100% construction completion 10%
Final Payment On handover 5%
Investor Note

This is a construction-milestone payment plan. Your obligations are tied to actual build progress, not to a fixed calendar. If construction stalls, so do your payments. This is a material structural protection for the investor. It is not the norm across all off-plan product and it is one of the reasons I consider the payment terms here favourable.

All prices in Saudi Riyal (SAR). USD equivalents approximate at time of writing. Price excludes furniture and the 5% Saudi real estate transaction tax (RETT). Contact Indiana directly for full pricing schedule and floor plans.

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Interested in Four Seasons Jeddah?

I have direct access to the full pricing schedule, floor plans and payment plan terms. If you are considering a Saudi allocation, this is the project I would begin with. Send me a note and I will respond personally.

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Disclosure. I am a licensed broker. theoffplan.com is my personal editorial advisory. When a project I recommend leads to a transaction, I may represent the buyer. Pricing figures are indicative, sourced from Midad's official documentation. Final terms governed by the Sale & Purchase Agreement. This is not financial advice. Consult a qualified advisor before investing.