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Foundation Day Developments in the Saudi real estate sector

Reading time: < 1 Minuteيوم التأسيس.. تطورات القطاع العقاري السعودي روان الزهراني يوم التأسيس: رحلة عبر الزمن للاحتفاء بجذورنا العريقة في الثاني والعشرين من فبراير من كل عام، يُشرق ... Read more

Since the Ministry of Works was established in 1953, it has implemented huge projects (NEOM, Red Sea, King Abdullah City), and Vision 2030 promotes investment.

22/02/2024

Foundation Day Rawan Alzahrani
Steps to apply for housing subsidy programs

55 thousand families benefited from the “Residential” program during the first half of 2024

Of these, 44,000 families have moved into their first home, with support packages and e-services through sakani.sa and the care number 199090

Abu Dhabi

49 thousand residential leases in Abu Dhabi during the first half of 2024

Emirate's lease documentation rate rose 102% in the first half of 2024, driven by rising population demand

National Housing and Talaat Moustafa break ground in Banan City

SAR 3.25 billion in Banan sales since its launch in May

Talaat Moustafa Group: Banan has reached EGP 42 bn in sales since its launch in May, exceeding its first-year target.

Real Estate Registration Authority Logo

Steps for licensing real estate contributions and the conditions for offering and marketing them

General Real Estate Authority launches online platform for licensing, defines offering mechanisms, regulatory and financial limits

Group housing for individuals

Learn about the most important requirements for group housing for individuals after updating them

The Ministry of Municipalities and Housing amends licensing, location, classification, and technical standards to enhance safety quality and compliance.

Al-Haqeel

Self-build and Land and Loan beneficiaries given an additional 16 months to complete construction

The fund will begin accepting applications for payments through its portal starting August 4, with terms ranging from 4 to 16 months.

Ministry of Municipalities and Housing - Group Housing Requirements

“Municipalities and Housing Updates Requirements for Group Housing for Individuals

The requirements include licenses, spatial and technical requirements, activities, and classifications of buildings, complexes, and cabins to improve the quality of life.

Ministry of Tourism-Housing Rentals

Saudi Arabia's inbound tourism to boost private housing rents in 2023

Ministry of Tourism: Private residences welcomed 5.7 million tourists (21%) in 2023 out of 27.4 million visitors and revenues of SAR 141.2 billion

Investors in real estate

Two skills that help real estate investors succeed and close more deals Get to know them

Ken McElroy: Mastering both sales and fundraising skills is essential for a successful real estate investor to close more deals

Real Estate Fund: 996 million riyals deposited in the accounts of “Residential” beneficiaries for July 2024

The subsidy is earmarked for the profits of housing program contracts in order to facilitate ownership and provide flexible financing solutions

Building license via Baladi platform

Infographic: 5 key objectives of modernizing residential construction requirements

Amendments include increasing building ratios, separating units, converting front setbacks to parking, and requiring parking within property boundaries

Residential program

Tomorrow. Disbursement of housing subsidies for the July installment

Housing: Disbursement Wednesday, July 24, 2024; Eligibility requirements: Saudi, age 25+, not previously benefited

Living Room Furniture Arrangement

International estimates Saudi Arabia's furniture market to reach $4.49 billion in 2024

The report forecasts the market to grow to $5.98 billion by 2029 at a CAGR of 5.91%.

Real Estate Transaction Value - Real Estate Sales - Residential Real Estate

Annual housing program report reveals 96,000 families benefited from housing subsidies

The ownership rate of Saudi families reached 63,74% by the end of 2023, with more than 26,000 contracts signed for the ministry's land.

Saudi Arabia Foreign Investment

International reports: Saudi Arabia needs to build 1.2 million more homes over the next decade

Government aims to build 300,000 housing units in five years to boost home ownership and keep pace with rising demand

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