The annual report released by <a style="color: #800000;" href="https://www.vision2030.gov.">Housing Program"“""</span
In the report titled "We Empower You to Own Your Home", the program confirmed that the percentage of Saudi households owning a housing unit reached 63.74% by the end of 2023, up 16.7 percentage points compared to 2016. </The report indicated that the ownership rate of Saudi households exceeded the target for the mentioned year of 63%.
Contracts sold
The program explained that the number of contracts signed for the Ministry of Municipalities and Housing land product amounted to more than 26 thousand, of which 11 thousand contracts during the fourth quarter of 2023; with the aim of improving housing affordability and achieving the strategic objective of the housing program by providing adequate home ownership for Saudi families.
The report addressed the implementation and construction updates in a number of initiatives, as the completion program approved more than 800 plans and issued more than 3 thousand building permits, 10 thousand housing units were provided for development housing beneficiaries, and the number of contracts signed for the off-plan sales product reached 10904 contracts.
A range of services and housing support
The report listed a variety of housing facilities and services that include (real estate consultant, issuing real estate transaction tax certificates, displaying the prices of financial institutions, issuing land contracts electronically, engineering design service, e-finance and "real estate market"), as well as registration and immediate entitlement, and issuing building permits electronically.
Reviewed the housing strategy, taking into account the acceleration of ownership as an indicator of success and continuous improvement in the sector, as well as shifts in the global economic system and its impact. and its impact on the real estate market, financial conditions in the Kingdom, and its impact on the purchasing power and investment capacity of citizens and investors in the housing sector.
