Riyadh: ReNews Pakistan International Desk Global football star Cristiano Ronaldo has taken a significant step into Saudi Arabia’s real estate sector by acquiring two luxury villas at Nujuma, an exclusive development along the Red Sea coast. The properties form part of the Red Sea Project, one of the kingdom’s flagship initiatives aimed at redefining Saudi Arabia as a global destination for high end tourism and investment. Sources say Ronaldo and his partner Georgina Rodriguez purchased the villas for a combined value estimated at around eight million US dollars. One property is a three bedroom family villa while the second is a more secluded two bedroom residence. The island lies approximately twenty six kilometres from the mainland and is accessible only by chartered boat or seaplane. Both villas feature private beachfront access contemporary architectural design and amenities aligned with international luxury standards. Real estate experts describe the investment as a strong brand signal for Saudi Arabia’s emerging luxury property market. They say purchases by globally recognised figures tend to reinforce investor confidence elevate the international profile of developments such as the Red Sea and NEOM and contribute to rising demand and valuations in surrounding projects. Analysts believe such high profile investments could accelerate Saudi Arabia’s positioning alongside established luxury destinations. On the regulatory front Saudi authorities have reiterated that national laws remain fully applicable to all private properties including luxury villas. Alcohol remains prohibited under Saudi law despite limited discussion about controlled access within certain licensed resorts in the future. Officials have stressed that any potential easing would be tightly regulated and would not extend to private residences. Market observers say Ronaldo’s entry into Saudi real estate represents more than a personal lifestyle decision. They argue it reflects the kingdom’s broader strategy to attract global capital diversify its economy and establish a durable presence in the international luxury real estate market under Vision 2030.