Monitored: Muhammad al-Amin Jamous
156 residential projects containing more than 162 thousand housing units
Spending in the real estate sector exceeded 500 billion riyals during the past years
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Stats and milestones in the future of real estate
* Planning to make three cities in the Kingdom one of the top 100 cities in global indices.
Establishing a centralized land and property registry with a coverage of up to 85%.
Creating a centralized land and property registry with a coverage of up to 85%.
* Total financing contracts will reach 1.2 million contracts, worth 600 billion riyals in the coming years.
* 500 thousand new financing contracts in the coming years.
* Implementation of more than 300 thousand housing units.
8.79% contribution of the real estate sector to GDP by 2030.
* 8.79% contribution of the real estate sector to GDP by 2030.
* Implementation of the real estate registry system and real estate brokerage system.
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Launch:
- Governance Effectiveness Index.
Global Competitiveness Index.E-Government Index.
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Housing, Finance and Real Estate Developers
* Providing incentives to developers worth more than 13 billion riyals in the first phase.
* Supporting infrastructure development and increasing real estate supply worth 36 billion riyals.
* The contribution of real estate activities to GDP is about 9.9 %.
The contribution of real estate activities to GDP is about 9.9 %.
* The contribution of the construction sector reached 7.91 TP3T.
The contribution of the construction sector reached 7.91 TP3T. The percentage of local content in residential projects increased to nearly 64%.
* The percentage of local content in residential projects increased to nearly 64%.
* More than 450 billion riyals have been injected during the past years for financing contracts.
80 billion riyals is the size of the housing development projects that the ministry has worked on with the private sector.
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Important regulations and programs that led to the effectiveness of the real estate sector:
- Real Estate Arbitration Center.
- Developer Contractor Classification.
Owners Association.
- Rent.
<Building sustainability programs. White land.White land.
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The role of the financial market in real estate challenges
The transfer of the real estate investment business to the Capital Market Authority was a real start for real estate funds.
* 124 billion riyals is the value of the total investments of real estate funds, compared to 59 billion four years ago.
* The number of investors in real estate funds will rise to 310,000 in 2021, up from less than 9,000 in 2016.
The number of investors in real estate funds will rise to 310,000 in 2021.
* Real estate REITs grew from 600 million riyals in 2016 to 22 billion riyals across 17 traded products.
* The number of investors in the REIT sector increased to 300 thousand investors.
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Real Estate and Employment:
*The real estate sector is the third contributor to employment.
Real estate is the third contributor to employment.
* Localization of six activities including real estate brokerage and marketing.
40% is the state subsidizing the salaries of new employees in the sector for two years.
Two million and 950 thousand young men and women have been employed in the private sector.
<400,000 young men and women entered the labor market during the past year. <32 localization decisions have been issued, and 30 localization decisions will be issued this year.
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Asir region. Tourism all year round
*Asir Region aims to turn the region into a global tourism destination all year round. <Attracting more than 10 million visitors by 2030.
* 11 billion riyals of investments to develop Sudan, including 3 billion riyals allocated for infrastructure.
* 8 thousand jobs provided by the project.
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Industry is a key partner in construction development
* BDI vision targets 40% of new buildings and housing units.
* Modern construction technology until 2025 with 193,000 housing units.
* Involving private sector enterprises in the real estate development process.
* Activating quality of life applications and humanizing cities in residential projects.
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National Housing Company pumped 20% of housing supply
* The real estate supply of housing units increased by more than 146 thousand units.
* Planning to add 300,000 units by 2025, with investments worth more than 200 billion riyals.
* Pumping 20% into the total sector in 4 years since the start of the housing program.
<Qualifying and supporting more than 75 real estate developers so far.
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Real Estate Valuation. Qualification, services and investment
100 billion worth of real estate valuation services in 2021
* More than 1400 training courses organized by the Saudi Commission for Certified Valuers
More than 1400 training courses organized by the Saudi Commission for Certified Valuers
* 30 thousand trainees have benefited from the courses.
* Issuing 127 thousand evaluation reports to serve the beneficiaries of the Real Estate Fund.
* 25 thousand customers benefited from the electronic system.
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White Land Program. Increasing real estate supply
* Development of 500 million m2.
* Expansion of the application in the future.
* Spending more than two billion riyals to develop infrastructure in a number of projects.
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