Housing Minister Majid Al-Hogail reiterated that the Ministry of Housing focuses on three main areas: citizens, developers, and financiers, explaining that these elements must work in harmony, without any imbalance, to provide the required housing units. He noted that the Kingdom seeks to provide a variety of housing options that cater to all income levels, so that housing units are diverse and commensurate with income levels, stressing that the price of housing units must not exceed 30% of an individual’s income.

Al-Hogail explained that the global benchmark—which measures the price-to-income ratio of a housing unit based on a specific scale—is widely used, so comparing the Kingdom to a number of other countries was illogical. He emphasized that the current price-to-income ratio is one of the problems facing the housing sector due to the limited supply of housing units that are commensurate with the incomes of all individuals, as the market has focused over the past decade on price segments of one million riyals and above, which account for 70% of the market.