Ministry of Municipalities and Housing revealed in a press release today that the residential and real estate sector has achieved a number of figures that contributed to enhancing the growth of the sector, increasing the real estate supply and providing more housing units. The ministry said in a press release today that the residential and real estate sector achieved a number of figures that contributed to enhancing the growth of the sector, increasing the real estate supply and providing more housing units, as about 70 thousand new housing units were launched in 163 projects within integrated residential complexes with integrated facilities and services through the ministry's executive arm “NHC”, while the number of housing units delivered reached about 23 thousand housing units in 2024, a growth rate of 33% compared to 2023.
The number of housing units delivered in 2024, with a growth rate of 33% compared to 2023. She pointed out that more than 117 thousand Saudi families benefited from the solutions and options of the residential program during the past year, a growth rate of 9% compared to 2023, in addition to the ownership of more than 21 thousand families from the developmental housing program in 2024, a growth rate of 24% compared to the previous year.
About the financing contracts, the ministry explained that the total subsidized financing contracts for the beneficiaries of the Residential Program for 2024 amounted to about 93 thousand financing contracts during the same year, with a growth rate of about 15% compared to the previous year, as the subsidies were deposited to the beneficiaries of the program with a total value of more than 11.9 billion Saudi riyals.
The Ministry of Municipalities and Housing revealed in its statement that more than 406 thousand licenses were issued through the “Baladi” application, including 130 thousand commercial licenses and 276 thousand construction licenses, and the number of health certificates issued during 2024 reached more than 811 thousand health certificates, while the total number of building compliance certificates reached nearly 100 thousand certificates in various regions of the Kingdom.
The Ministry launched the second phase of the Bahja project, which included the establishment and implementation of 357 parks and urban interventions in neighborhoods and residential communities, with the aim of providing large green spaces for recreational activities and increasing the per capita share of green spaces.
In the digital solutions and plumbing sector, the number of health certificates issued in 2024 is approximately 1,000,000, while the total number of building compliance certificates is approximately 1,000,000 in all regions of the Kingdom. In the digital solutions and smart municipalities sector, the ministry has utilized modern technology and artificial intelligence techniques to address visual distortions by taking nearly 14 million photos through “Baladi Lens”, in addition to processing nearly 1.2 million reports of visual distortions through secretariats in various regions of the Kingdom, in addition to benefiting nearly 500,000 beneficiaries from “Baladi Lifestyle” services since the beginning of 2024.
The ministry stated that the program has included the establishment and implementation of seven parks and urban interventions in residential neighborhoods and communities, with the aim of providing a wide range of recreational activities and increasing the per capita share of green spaces. The ministry pointed out that the white land fees program recorded a remarkable growth in increasing the real estate supply by more than 160 million m2 in various regions of the Kingdom, where the areas of land that have been developed exceeded more than 75 million m2, while the areas of land under development reached more than 48 million m2, and part of the revenues from the fees were allocated to develop the infrastructure of residential projects, where more than 2.7 billion riyals were spent on developing and preparing infrastructure in more than 100 residential projects until the end of 2024.
The ministry also allocated part of the revenues from fees to develop the infrastructure of residential projects, where more than 2.7 billion riyals were spent on developing and preparing infrastructure in more than 100 residential projects until the end of 2024. During the past year, the Ministry of Municipalities and Housing continued its efforts to attract investors and promote investment opportunities in the municipal and real estate sector, as the volume of investment opportunities offered through the Forooz platform reached more than 14,000 investment opportunities worth more than 4 billion riyals.
The Ministry of Municipalities and Housing continues its efforts to attract investors and promote investment opportunities in the municipal and real estate sector.
The Municipalities and Housing System continues its efforts during the current year to improve the quality of services provided to residents and visitors as part of its continuous efforts to achieve the objectives of Saudi Vision 2030.
