Signs of activating undeveloped land in Saudi Arabia have begun to appear in the real estate sector, after areas exceeding 27 million square meters in the city of Riyadh entered the development phase since the implementation of the white land fees procedures last January, according to what was revealed by Abdulrahman Al-Tawil, Undersecretary of the Ministry of Municipalities and Housing for stimulating the housing supply and real estate development.<\/p>\n\n\n\n
The movement of these spaces coincided with a rise in building permits by 37%, at a time when more developers are moving towards launching new real estate projects, amid efforts to increase the units available in the market and enhance its ability to meet demand and achieve a greater balance between supply and demand.<\/p>\n\n\n\n
These indicators, according to Al-Taweel\u2019s statements to Al-Arabiya Business, show that the impact of regulatory measures is no longer limited to Riyadh, as the increase in license applications has extended to other Saudi cities, reflecting the expansion of development activity and the response of investors to the facilities provided, with a growing trend towards utilizing uninvested lands and establishing residential and commercial projects on them.<\/p>\n\n\n\n
In addressing the obstacles hindering project implementation, the role of the \u00abEtmam\u00bb Center has emerged as a coordinating body that brings together the services and procedures needed by the real estate developer, instead of having to deal separately with multiple parties to obtain the necessary approvals.<\/p>\n\n\n\n
The center's work covers all stages of the project, from land preparation and planning and plan approval, through obtaining permits, to completing development and operation. This approach aims to reduce delays caused by the involvement of multiple entities responsible for approvals, whether it be the Ministry of Municipalities and Housing, municipalities, development authorities, service companies, or other ministries and government agencies.<\/p>\n\n\n\n
According to figures announced by Al-Taweel, the center has processed over 2,900 applications since the program's launch, with the total area of approved developments exceeding 800 million square meters. It also addressed more than 770 challenges faced by developers, related to procedures or coordination between different entities, and successfully resolved most of them.<\/p>\n\n\n\n