The Royal Commission for Riyadh City is preparing to launch a new platform to receive applications to benefit from developed and planned lands north of the capital, as part of the implementation of the directives of His Highness Crown Prince Prince Mohammed bin Salman bin Abdulaziz - may God protect him - to lift the suspension of a group of lands with a total area of 81.48 million square meters, within a series of measures aimed at enhancing real estate supply and balance in the market.
The Royal Commission for Riyadh City is preparing to launch a new platform to receive applications to benefit from the developed and planned lands north of the capital, as part of the implementation of the directives of His Highness The Crown Prince. <The Authority's CEO, Engineer Ibrahim Al-Sultan, emphasized that the Crown Prince's directive came after a phase of careful urban planning, reflecting the leadership's keenness to upgrade Riyadh and achieve integration between urban development and sustainability. He added that this decision represents a strategic step towards providing planned residential and commercial lands that meet the growing need, stabilize prices and attract investments, thus enhancing Riyadh's status as one of the best global capitals for living and working. Sultan pointed out that the Royal Commission will start implementing the directives immediately, as work is underway to launch the electronic platform to receive and deal with requests, which will be announced soon, in addition to implementing the mandate directed to the General Real Estate Commission and the Royal Commission to monitor and control real estate prices in Riyadh and submit periodic reports on them.
Sultan pointed out that the procedures directed to the General Real Estate Commission and the Royal Commission to monitor and control real estate prices in Riyadh and submit periodic reports on them. He explained that the measures directed by His Highness the Crown Prince reflect an integrated vision based on prioritizing the needs of citizens, accelerating real estate development, enhancing the quality of life, as well as supporting the objectives of the housing program within the Saudi Vision 2030, noting that these qualitative steps aim to control the rental market and keep pace with the population and economic growth of the capital, thus enhancing its attractiveness as a destination for living and investment.
These qualitative steps aim to control the rental market and keep pace with the population and economic growth of the capital, thus enhancing its attractiveness as a destination for living and investment.
