His Excellency Majid bin Abdullah Al-Hogail, Minister of Municipalities and Housing, launched the “Real Estate Incentive Program” in a move that reflects a commitment to supporting the sustainability of the real estate sector and fostering its growth.
The Real Estate Incentive Program aims to transform land into high-quality development and investment opportunities through innovative digital solutions that facilitate integration among landowners, developers, investors, and financiers within a single ecosystem, thereby increasing market efficiency and enhancing its attractiveness.
His Excellency sponsored the first incentive deal by signing an agreement between the landowner and the real estate developer to develop a plot of land located in Riyadh, specifically in the Al-Aard district, covering an area of 130,000 square meters, which includes the development of approximately 1,200 diverse residential units. The project is a mixed-use development combining residential, commercial, administrative, and hotel functions.
The “Real Estate Incentive Program” works to enable real estate stakeholders to take advantage of ready-to-develop opportunities that are eligible for financing, through a smart system that facilitates site analysis, assess feasibility, and streamline investment and operational processes, thereby contributing to more efficient land investment, enhancing transparency, and accelerating the real estate development cycle.
NHC confirmed that the launch of “Real Estate Stimulus” represents one of the pivotal steps in the development of the Kingdom’s real estate ecosystem, by building an integrated investment environment that enables various stakeholders to achieve sustainable returns through digital tools that support transparency and accelerate development processes, thereby strengthening the Saudi market’s position as an attractive destination for local and international real estate investment.
The launch of “Real Estate Incentives” is part of NHC’s efforts to empower the real estate sector through innovative solutions that support sustainable growth and open new horizons for investment partnerships, thereby contributing to the creation of a more efficient, integrated, and sustainable real estate ecosystem.
