Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al-Hogail, stressed that the legislation developed over the past years has contributed to building a strong and clear infrastructure in the real estate sector, which contributed to a wide growth in the financing and housing system in the Kingdom.

Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al-Hogail. <In press statements, the Minister of Municipalities and Housing explained that Saudi Arabia now has a well-developed financing sector that includes bank financing, secondary financing and the issuance of global sukuk, which has opened new horizons for developers and investors. PropTech technologies have transformed the real estate sector through the use of data, stressing that the Kingdom's digital government has become a model to be followed globally.

Haqeel pointed out that PropTech technologies have made a qualitative leap in the real estate sector through the use of data.

Deals worth 161 billion riyals

He also spoke about the importance of the discussions that take place at real estate events, where deals worth 161 billion riyals were announced between developers, with expectations that this figure will increase in the future and indicated that the infrastructure and opportunities available in the sector, from the demand for residential units to the development of commercial complexes, will enhance the growth of the real estate sector in the Kingdom in the coming years.

Haqeel stressed the importance of the discussions that take place at real estate events, where deals worth 161 billion riyals were announced between developers. Al-Haqeel emphasized that the development agreements signed worth 161 billion riyals will contribute to increasing the housing supply, especially in major cities such as Riyadh.

Haqeel added that the ministry aims to increase the supply of housing in the coming years. He added that the ministry aims through the new quality of life models to improve the lifestyle to include housing, sports and entertainment, while providing modern housing options and larger spaces that meet the needs of Saudi families.

Haqeel also pointed out that the development agreements signed worth SAR 101 billion will contribute to increasing the housing supply, especially in major cities such as Riyadh. He also pointed out that the products offered by developers today reflect an accurate understanding of the needs of citizens, while providing options suitable for different income levels, which contributes to the development of the residential and investment sector.

He added that the ministry aims through the new quality of life models to improve the quality of life to include housing, sports and entertainment, while providing modern housing options and larger areas that meet the needs of Saudi families. He explained that real estate coding will contribute to reducing the risks that investors may be exposed to, explaining that the standards for coding will be announced at the beginning of 2026.