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.
* 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 coverage up to 85%.
* Establishing a centralized land and property registry with coverage up to 85%.
* Total financing contracts will reach 1.2 million contracts, worth 600 billion riyals in the coming years.
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* 500 thousand new financing contracts in the coming years.
* Implementation of more than 300 thousand housing units.
* 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 the 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
* Incentives for developers exceeded 13 billion riyals in the first phase.
* Supporting infrastructure development and increasing real estate supply worth 36 billion riyals.
* Supporting infrastructure development and increasing real estate supply worth 36 billion riyals.
* The contribution of real estate activities to GDP is about 9.9 %.
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* The contribution of the construction sector reached 7.9%.
* The contribution of the construction sector reached 7.9%.
<p class="wp* 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.
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* 80 billion riyals is the volume of 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 Lands.
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The role of the financial market in real estate contribution challenges
*The transfer of the real estate investment business to the Capital Market Authority was a real start for real estate funds.
*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.
* 124 billion riyals is the value of the total investments of real estate funds.
* The number of investors in real estate funds rose to 310,000 in 2021, up from less than 9,000 in 2016.
* The number of investors in real estate funds rose to 310,000 in 2021, up from less than 9,000 in 2016.
* Real estate REITs grew from 600 million riyals in 2016 to 22 billion riyals across 17 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.
*The real estate sector is the third contributor to employment.
* Localization of six activities including real estate brokerage and marketing.
* 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.
* 40%
* 1.950 million young men and women have been employed in the private sector.
* 400,000 young men and women entered the labor market last 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 transform the region into a year-round global tourism destination.
*Asir Region.
* Attracting more than 10 million visitors by 2030.
* SAR 11 billion in investments to develop Sudan, including SAR 3 billion for infrastructure.
* SAR 11 billion in investments to develop Sudan, including SAR 3 billion for infrastructure.
* 8 thousand jobs created 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.
*BDI vision targets 40% of new buildings and housing units.
* Modern building technology through 2025 with 193,000 housing units.
* Modern building technology through 2025 with 193,000 housing units.
* Involving private sector enterprises in the real estate development process.
* Activating quality of life and urbanization applications in residential projects.
* Activating quality of life and urbanization applications 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.
* 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.
* Planning to add 300,000 units by 2025, worth more than 200 billion riyals.
* Injecting 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.
* 30 thousand trainees have benefited from the courses.
* Issuing 127 thousand valuation reports to serve the beneficiaries of the Real Estate Fund.
*
* 25 thousand customers have benefited from the electronic system.
* 25 thousand customers have benefited from the electronic system.
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White Land Program. Increasing real estate supply
* Development of 500 million m2.
* Development of 500 million m2.
* Future expansion.
* Spending more than two billion riyals to develop infrastructure in a number of projects.
* Spending more than two billion riyals to develop infrastructure in a number of projects.
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