The housing sector has achieved numerous record-breaking accomplishments aimed at enhancing the availability of housing options for various segments of society in line with the objectives of the Kingdom’s Vision 2030, as it marks eight years of prosperity, with 66,000 Saudi families having received their homes and more than 24,000 housing units launched as of the end of August. The homeownership rate among citizens reached 63.74%, achieving the 2023 target of 63%, compared to the baseline of 47%, with the Vision’s overall target set at 70%.
In addition, more than 96,000 citizens benefited from housing support services for housing products, and the total financial support provided to eligible recipients was estimated at 4.1 billion Saudi riyals, while the percentage of eligible recipients of financial subsidies who are able-bodied and self-sufficient exceeded the annual target of 32%, with an actual figure of 32.3% compared to the baseline of 1%, thus falling short of the Vision target by 6%.

And Saudi Vision 2030 into its eighth year, forging a new path for the growth of the nation and its citizens, and contributing to providing opportunities for success for future generations, based on three pillars that constitute its strengths. The first pillar is that the Kingdom serves as a hub for the Arab and Islamic worlds, granting it an authentic cultural status deeply rooted in history, The second pillar is its immense investment capabilities, which enable it to advance toward new economic horizons by developing the economy and diversifying sources of income, relying in this regard on the talents of its sons and daughters, who represent more than half of the Saudi population. In addition, the Kingdom serves as a hub connecting three continents and is traversed by some of the world’s most important maritime routes, giving it a strategic geographic location and global standing.

Building a prosperous and promising future

Since the launch of Saudi Vision 2030 on April 25, 2016—established under the guidance of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister —may God protect them both—the Kingdom of Saudi Arabia has been undergoing an unprecedented historic transformation and remarkable growth that supports the Vision’s goal of building a prosperous and promising future through economic growth and improved quality of life.
The Vision represents a journey toward a future full of opportunities for the Kingdom’s ambitious and creative youth; it is the largest and most ambitious national plan for change, through which dreams and hopes have been transformed into a reality marked by achievements and the fulfillment of targets.
Coinciding with the eighth anniversary of the launch of the Kingdom’s ambitious Vision, the 2023 Annual Report on Saudi Vision 2030 highlights the performance of the Vision’s programs in 2023, with 87% of the 1,064 initiatives for 2023 either completed or on track, while the key performance indicators for 2023 were estimated at 243 indicators, 81% of the Level 3 performance indicators met their targets, while 105 indicators exceeded their future targets for 2024 and 2025.