New REMAX Commercial Broker Lands Historic $240M Listing

When Saeed Alanezi, a broker with REMAX Plus in Saudi Arabia, became active with REMAX Commercial®, he hoped to expand his reach through a global network of commercial real estate professionals. What he found was the opportunity of a lifetime: the exclusive listing of the Rabiyat Al-Hijaz hotel complex in Makkah.  

The property, comprising 14 towers and 1,915 hotel rooms, is valued at 900 million Saudi riyals ($240M USD) and represents one of the largest hospitality assets in Makkah ever made available for ownership to international Muslim investors. 

Under Saudi Vision 2030 and the newly enacted Law of Real Estate Ownership and Investment by Non-Saudis, Muslim individuals, as well as Sharia-compliant investment funds and companies, now have the right to own property in the cities of Makkah and Madinah. Previously, these rights were reserved for Saudi nationals and Gulf Cooperation Council (GCC) citizens. 

“It is an honor to lead a transaction of this magnitude and significance,” said Alanezi. “This listing is life-changing and career-defining. Securing it required absolute trust – and that’s exactly what the REMAX brand delivers.” 

Alanezi credited the strength of the REMAX® network for helping him win this listing. 

“As a new Commercial Broker with REMAX Plus, we offer the global network, the brand, honesty, reputation and local understanding required to represent and offer ultra-high-value assets in the holiest city,” continued Alanezi.  

The listing has already attracted interest from sovereign wealth funds, family offices and religious endowments across Southeast Asia and the Middle East. 

Edward Fraser, Saudi Managing Partner at REMAX Plus, emphasized the scale of what Alanezi has achieved. 

“A listing of this size – nearly one billion Saudi riyals – is rare in any market,” Fraser said. “For a Saudi broker to bring this opportunity to the global stage is extraordinary. Saeed has positioned himself at the forefront of the Kingdom’s economic transformation, demonstrating how local expertise and global vision can intersect.” 

The transaction also underscores REMAX Commercial’s expanding role in cross-border investment opportunities worldwide. 

“This listing highlights the growing strength and global reach of the REMAX Commercial network,” said Kristie Kimnach, Executive Director of REMAX Commercial. “To see a significant hospitality asset of this scale represented by a REMAX Commercial advisor in Saudi Arabia demonstrates both the opportunities emerging across international markets and the trust clients place in our advisors worldwide.” 

Today, REMAX Commercial includes more than 17,600 commercial and residential-commercial agents operating from nearly 560 offices worldwide. In 2025 alone, REMAX agents completed more than 65,000 commercial transactions worldwide, totaling $18.5 billion in volume across 76 countries. * 

For Alanezi, the listing is about more than a transaction.  

“This isn’t just a listing,” he said. “It’s a legacy asset. For a Saudi broker to bring this opportunity to the world is a testament to how far our industry has come.” 

*Commercial statistics as of YE 2025