The actual need for real estate has emerged since ancient times and has evolved with human development and progress until it became a dilemma that is difficult to solve and even contributed directly to the housing crisis that we are experiencing today through mortgage loans.

For our society and our local market, all indications and evidence from statistics and studies point to our need for housing units that exceed the barrier of the real estate market.

As for our society and our local market, all evidence and evidence from statistics and studies indicate that we need more than 300,000 housing units annually, which is not a worrying barrier if the Ministry of Housing extends its hand to real estate developers in the private sector, but what worries us is the lack of appropriate sources of financing We find ourselves in the trap of high interest rates, whether to banks and financing companies or to freeze in the queue for more than a decade in front of the Real Estate Development Fund window to finally get the so-called amount of money that is not enough to build the bone of the building if the land is available from a grant or otherwise.

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But it seems that things have started to improve in this direction, especially after the adoption of the (Wafi) system, which is concerned with the off-plan sales system, and I see it in the interest of both the developer and the end consumer, considering that the majority of citizens in need of housing represent the vast majority of the middle class.

But the most confusing thing is what we notice daily ads or offers for residential projects dedicated to that class, but if you look at the prices you will find that they are beyond the means of most of the target class, it is unbelievable that the price of owning a residential villa reaches more than one million riyals and the ads are directed to the middle class.

More than one million riyals.

If we do a simple calculation, we find that those who can buy a villa at that price must have a monthly income (salary) of about eighteen thousand riyals, which means excluding most government employees and most private sector employees, so who are we targeting?

Thus, when we say that a project is directed to the middle class, we mean those whose monthly income ranges between eight thousand and ten thousand in addition to a record free of long or short-term debts, which is generally impossible in our time.

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Therefore, based on the above, house prices should range from (650 thousand riyals) to (850 thousand riyals) as a maximum if we are really targeting this segment. In order to reach the fair price in the previous paragraph, government regulators must intervene and do their part to reduce the prices of building materials such as iron, cement and others.