4,826 New Housing Units in Riyadh in June

A report issued by the Business Intelligence and Decision Support Center at the Ministry of Municipal, Rural Affairs, and Housing regarding the completion index for the housing supply indicates that the number of new housing units in Riyadh for June of this year reached 4,826 units, an increase of 37% compared to the same period last year.

Rise in the Number of New Units

The report indicated that the average number of new residential units in Riyadh during the first half of this year reached 5,163 units per month, with the number of new units at the end of the first half of this year increasing by 8% compared to the same period last year, 2021.

The report noted that the total number of new residential units in Riyadh in 2021 reached 61,314, an increase of 9% compared to 2020, with the index performing best in December 2021, when the number of new units reached 6,681.

Meeting the Growing Demand for Housing

The Ministry of Municipal, Rural Affairs, and Housing seeks to meet the growing demand for housing among Saudi families by providing more housing options and solutions through the “Sakani” program, facilitating citizens’ access to units that suit their needs, supporting mortgage loans, enabling the purchase of ready-built units from the market, allowing self-construction for those who own land, and providing numerous other services as part of the Ministry’s efforts to achieve the objectives of the housing programs —one of the programs under the Kingdom’s Vision 2030—by raising the homeownership rate among Saudi families to 70% by 2030.