The The Ministry of Municipal, Rural Affairs, and Housing announced that more than 1.5 million families will benefit by 2023, including 747,000 families whose mortgage loans were subsidized through the Real Estate Development Fund, while more than 160,000 housing units have been made available within residential complexes and neighborhoods equipped with integrated facilities and services under the “Housing and More” initiative.

With the same objective, the National Housing Company to provide 300,000 housing units by 2025, in partnership with local and international real estate developers, thereby contributing to raising the homeownership rate to 70 percent by 2030.
The Ministry noted that its services have extended to serving 32,000 families through developmental housing, including 17,000 families this year, in partnership with more than 400 associations, in addition to what is made available through the “Jood Al-Iskan” platform, which facilitates community contributions to provide housing for the most needy families. These contributions reached 2.5 billion riyals through six million individuals who volunteered their time and resources, thereby helping 11,000 families.

As part of efforts to regulate the real estate sector, promote a balanced and sustainable housing environment, and protect the rights of all parties—through the efforts of the General Real Estate Authority—the positive impact of programs launched under the “Housing Program” is evident, including the “Ijar” program, where the number of lease contracts documented through the electronic network has exceeded eight million residential and commercial lease contracts, of which approximately 2.8 million were documented this year, in addition to the results achieved by other programs such as “Malak,” ”Wafi,” ”Etmam,” the Real Estate Contribution System, the Real Property Registration Company, and others.