A recent study conducted by the Higher Authority for the Development of the Riyadh Region revealed that the total land area of the capital Riyadh reaches more than 5,000 square kilometers, while the areas occupied by unused white lands are not close to 77% of the total area, and the study indicates that the area of these white lands according to the study is 4146 km2 or four billion m2. The study points out that a city the size of Riyadh, 4900 kilometers, has only five million inhabitants.<\/p>\n
Anticipation of the Housing Minister's policies<\/strong><\/span><\/p>\n At a time when the real estate community and citizens entitled to housing support are awaiting the new policies pursued by His Excellency the Minister of Housing, Mr. Majid bin Abdullah Al-Hogail, the market in the Kingdom is witnessing a reservation in most real estate fields, especially the residential units sector of apartments intended for ownership, duplex villas and lands, and observers believe that the next stage is expected to witness a movement within the ministry in order to crystallize the \u201dhousing strategy\u201d to contribute to developing radical solutions to the housing issue, especially in the scope of utilizing white land within the cities.<\/p>\n The need to utilize white land<\/strong><\/span><\/p>\n In the same direction, a number of real estate developers have called for the exploitation of white land inside cities, which in some cases reaches about 30 percent, as such white areas inside cities are considered the real fuel, and through them solve the housing issues that most major cities suffer from, as developers are changing the ideas and patterns of demand for real estate of all kinds, whether for real estate units or small areas of land by dividing large lands and creating housing units of different sizes that comply with the requirements of financing agencies, and this trend has enhanced the demand for buying small residential lands with a touch.<\/p>\n Land grants<\/strong><\/span><\/p>\n The role of grant lands seems to be present in the stage of solving the housing issue, as it contributes to solving the issue by using them for the use for which they were granted and not to sell them, and will partially contribute to solving the housing issue, and it can be said that grant lands, if their plans provide services and infrastructure clearly, contribute to solving half of the issue for the citizen and provide him with the required stability.<\/p>\n The provision of grants helps to significantly reduce land prices, thereby reducing the housing crisis and the rise in rents. Therefore, the Ministry of Municipal and Rural Affairs has directed attention to everything that would develop the methodology and care in the management of land affairs in its comprehensive concept, whether in preserving it, dealing with its issues, investing its resources and municipal properties, providing land grants for citizens' housing, and ensuring the achievement of integration and homogeneity in performance and exercise of tasks in the ministry office and its affiliated agencies according to codified and standardized procedures consistent with a drawn policy and a sound strategic plan.<\/p>\n Optimistic about the real estate market<\/strong><\/span><\/p>\n For his part, Abdulrahman bin Adnan Al Muhaidib, CEO of Wathrah Real Estate Investment and Development Company, said: In the coming period, the real estate market will witness a qualitative movement governed by the liberation of the market from the blurring of direction and statements that have dominated the situation during the last two years. In Jeddah, for example, there are at least three to six investment real estate projects that will go on sale before the end of this year, all of which focus on investment residential land products, said Abdulrahman bin Adnan Al Muhaidib, CEO of Wathra Investment and Real Estate Development Company.<\/p>\n Al-Muhaidib stressed the need for strategic work for the ministry, especially since the new minister realizes - due to his experience in the private sector - the importance of strategic work, especially in an important sector such as the residential sector, stressing that imposing fees on white lands is one of the most important decisions that we believe will transform the market from speculation that serves people, to development that pumps products to consumers.<\/p>\n <\/p>","protected":false},"excerpt":{"rendered":" Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>\u0643\u0634\u0641\u062a \u062f\u0631\u0627\u0633\u0629 \u062d\u062f\u064a\u062b\u0629 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