Saudi Minister of Economy and Planning Faisal Al-Ibrahim confirmed that the directives issued by His Highness Crown Prince Prince Mohammed bin Salman, Prime Minister, aim to find rapid and effective solutions to address the challenges facing the real estate sector, thereby contributing to improving citizens“ quality of life and promoting private sector growth.

Speaking to Al Arabiya TV, Al-Ibrahim explained that the new decisions will provide additional support to families by offering suitable housing units at competitive prices, which will help stabilize the proportion of household spending on residential real estate relative to their total budget. This will also redirect spending toward other sectors, thereby boosting the growth of the national economy, opening up new horizons for job opportunities, and raising the standard of living and income.

The minister noted that cost control is a fundamental pillar for supporting the private sector, particularly small and medium-sized enterprises (SMEs) and entrepreneurs. He emphasized that transparency regarding investment costs in the real estate sector enables these companies to plan and expand more effectively, thereby helping them become a key driver of future economic growth.

He added that all new policies and legislation will be announced according to a specific timeline, with a focus on closely monitoring the implementation phases and ensuring the participation of relevant stakeholders and the public, thereby maximizing economic and social benefits and supporting the realization of the Kingdom’s ambitious vision.