The Ministry of Housing\u2019s initiatives, presented within the National Transformation Program, included the launch of 11 indicators to achieve the Ministry\u2019s goals, which are represented in three strategic axes before the Ministry of Housing. The first is to improve the performance of the real estate sector and raise its contribution to the gross domestic product. The second is to stimulate the real estate supply and raise productivity to provide housing products at the appropriate price and quality. The third is to enable citizens to obtain appropriate housing finance in accordance with the National Transformation Program 2020 plan.<\/p>\n
Indicators for improving the performance of the real estate sector and increasing its contribution to the gross domestic product<\/strong><\/span><\/p>\n Raising the contribution of the real estate sector to the GDP from 5 percent to 10 percent, which is 20 percent according to the global standard and 13 percent according to the regional standard.<\/p>\n The second indicator is raising the annual growth rate of the residential sector from 4 percent to 7 percent. For the global standard, it is 11 percent, and for the regional standard, it is 6 percent.<\/p>\n The third indicator is reducing the average time required to approve and issue licenses for residential real estate development projects from 730 days (two years) to 30 days (one month), while the global standard is 26 days and the regional standard is 44 days.<\/p>\n Indicators for stimulating real estate supply and increasing productivity<\/strong><\/span><\/p>\n Regarding the second strategic objective, which is \u201cstimulating the real estate supply and raising productivity to provide housing products at the appropriate price and quality,\u201d this objective consists of three indicators. The first indicator is reducing the \u201caverage price of a housing unit to total annual per capita income\u201d or what is called \u201chomeownership ability\u201d from ten to five times, which is the target in 2020.<\/p>\n The second indicator is the increase in the percentage of housing units implemented by approved real estate development companies from 10 percent to 30 percent, while the third indicator is the increase in the percentage of housing units provided in the market (vacant or new) to the number of those eligible for support from 10 percent to 50 percent.<\/p>\n The index also raised the rate of homeownership for Saudi families from 47 percent to 52 percent in 2020.<\/p>\n Indicators of enabling citizens to obtain suitable housing finance <\/strong><\/span><\/p>\n The indicator shows an increase in the homeownership rate for Saudi families from 47 percent to 52 percent in 2020, while the global standard for homeownership is 64 percent, and the regional standard is 48 percent.<\/p>\n The index (families that have obtained housing finance from families included in ownership pathways), whose percentage will be raised from zero percent to 40 percent.<\/p>\n The index of \u201cfamilies receiving housing support to qualify them for housing finance\u201d raises its percentage from zero percent to 60 percent.<\/p>\n \u00a0The \u201caverage waiting time for housing finance\u201d indicator is set to reduce the waiting time by 67 percent, from 15 years to five years.<\/p>","protected":false},"excerpt":{"rendered":" Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>The initiatives presented by the Ministry of Housing within the National Transformation Programs included the launch of 11 indicators to achieve the ministry's goals, which are represented in three strategic axes in front of the Ministry of Housing, the first of which is to improve the performance of the real estate sector and raise its contribution to GDP, the second is to stimulate the real estate supply and raise productivity to provide housing products at the right price and quality, and the third is to enable citizens to obtain financing ... Read more<\/a><\/p>","protected":false},"author":10,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"amlak_video_sent":"","footnotes":""},"categories":[7791],"tags":[],"class_list":["post-11424","post","type-post","status-publish","format-standard","hentry","category-national-strategy"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak post excerpt","type":"text","formatted_value":""}},"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","trp-custom-language-flag":"","event-thumbnail":"","event-medium":"","event-large":"","event-hero":""},"author_info":{"info":["\u0627\u0645\u0644\u0627\u0643 \u0627\u0644\u0639\u0642\u0627\u0631\u064a\u0629"]},"category_info":"\u0627\u0644\u0627\u0633\u062a\u0631\u0627\u062a\u064a\u062c\u064a\u0629 \u0627\u0644\u0648\u0637\u0646\u064a\u0629<\/a>","tag_info":"\u0627\u0644\u0627\u0633\u062a\u0631\u0627\u062a\u064a\u062c\u064a\u0629 \u0627\u0644\u0648\u0637\u0646\u064a\u0629","comment_count":"0","_links":{"self":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/11424","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/comments?post=11424"}],"version-history":[{"count":0,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/11424\/revisions"}],"wp:attachment":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media?parent=11424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/categories?post=11424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/tags?post=11424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}