Omnia MarketsDeveloper · Saudi Arabia · Jeddah
Semou signs 35-year Jeddah land development lease.
The developer told Tadawul it will rent 78,374 square metres from a Saudia property arm for a mixed-use scheme, with rent starting after the building permit or 18 months.
Argaam reported in Arabic that Semou Real Estate Company disclosed on Tadawul a Jeddah land development deal: a long-term lease, development and operating contract signed on 4 May 2026 with Saudi Arabian Airlines’ property development company. The plot is in Jeddah and measures 78,374 square metres. The term is 35 years.
Semou said the aim is a mixed-use project on the south-western corner of the masterplan. The lease term starts on the building-permit date or 18 months after the agreement is signed, whichever comes first. Annual rent is 11.76 million riyals excluding VAT, with an average 21% rise every five rental years. Rent becomes due on the same earlier of permit or 18 months. The company expects a financial effect from the date it takes the land and said there are no related parties. Construction start, unit mix and sale terms were not stated.
From the JournalRiyadh vs Jeddah: where to live, and what changes by neighbourhood.Our take
Omnia Desk
A lease-backed plot adds Jeddah supply noise, not a foreign-buyer rule change.
This is a developer land step, not a change to who may own finished stock. Semou is not among the names we list in the catalogue, and the filing gives no Wafi escrow, off-plan price list or mapped-zone detail a non-Saudi can act on today. Track it as future mixed-use supply on a long ground lease, not as a live purchase path.
For someone already weighing Jeddah, keep the ownership frame from our guide to waterfront penthouses and the 2026 law: non-Saudis buy inside published zones under rules live since 22 January 2026. A 35-year lease on vacant land does not rewrite those maps, the 2% REGA exit fee stack, or the price bands on schemes we actually sell. Check the permit clock and whether any later residential release sits inside the allowed zones before treating this as competing inventory.
Sources
About Omnia Markets- 1Argaam (Arabic) · 30 October 2026سمو توقع عقد إيجار وتطوير أرض في جدة لمدة 35 عاماً(opens in a new tab)
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