Riyadh MunicipalityRiyadh Municipality continued to implement its strategies to enhance the real estate supply and regulate real estate operations to ensure the sustainability of development and balance in the real estate market.
During 2024, the Municipality approved nineteen new residential plans with a total area of about thirteen million five hundred and twenty-two thousand four hundred and seventy-eight square meters, which contributed to providing more than seventeen thousand diverse housing units.
<The real estate supply varied between fourteen thousand eight hundred and ninety-seven units for villas and two thousand four hundred and sixty units within residential buildings, which reflects the Municipality's commitment to meet the needs of various segments of society by providing diverse and appropriate options. This step comes within the framework of providing a sustainable residential environment that enhances the quality of life and keeps pace with the needs of urbanization. During the same year, it issued eighteen thousand two hundred and forty-eight building licenses, including fifteen thousand three hundred and forty-six residential licenses, in addition to commercial, industrial and governmental licenses, which contributes to accelerating urban development processes and enhancing the role of the private sector in supporting development.
The Municipality focused on improving the quality of life and keeping pace with the needs of urban expansion. The Municipality focused on improving the utilization of real estate land through the implementation of mergers and fragmentation operations, where the number of land plots increased from six thousand nine hundred and nine to nine thousand fifty-six, which contributes to expanding the scope of real estate projects to meet the growing demand.
It is worth noting that these efforts reflect Riyadh Municipality's commitment to the development and sustainability of the city in a way that contributes to achieving the Kingdom's Vision 2030 by enhancing the quality of life, developing infrastructure, and stimulating investment opportunities in the real estate sector.
