Abdulrahman Al-Tawil, Undersecretary of the Ministry of Municipal, Rural Affairs, and Housing, emphasized the need to stimulate the housing supply and real estate development, with a housing program aiming to deliver approximately 30,000 housing units to Saudi families in the coming period and before the end of the current year, 2022, noting that the program continues to deliver housing units on a daily basis in various regions of the Kingdom.

Completion of Remaining Projects

Al-Tawil confirmed that there are projects in which all housing units have been fully handed over to beneficiary families, and work is currently underway to complete the remaining units and projects in preparation for their handover to beneficiaries once construction is finished, utilities are connected, and public facilities are handed over to the relevant authorities.

Launching New Housing Projects

He added, “The Housing Program and the National Housing Authority, in partnership with real estate developers and the private sector, continue to launch new housing projects, with the aim of providing additional housing options that will help increase the housing supply in various regions of the Kingdom in the coming period, and specifically the housing supply in Riyadh through the major residential suburbs currently under development, which will include a large and diverse number of residential units, thereby helping to strike a balance between supply and demand.

Transforming Contractors into Developers

Al-Tawil explained that the Ministry, through the Agency of the Ministry of Municipal, Rural Affairs, and Housing, is implementing programs to stimulate housing supply and real estate development, programs to support and empower real estate developers and transform contractors into real estate developers, with the aim of enhancing the real estate supply in the Kingdom by providing a variety of services that contribute to capacity building and the provision of resources and tools.