{"id":70333,"date":"2024-10-23T17:09:36","date_gmt":"2024-10-23T14:09:36","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=70333"},"modified":"2025-11-26T01:21:37","modified_gmt":"2025-11-26T01:21:37","slug":"%d8%aa%d9%82%d8%b1%d9%8a%d8%b1-%d8%af%d9%88%d9%84%d9%8a-%d9%8a%d8%aa%d9%88%d9%82%d8%b9-%d8%a7%d9%84%d8%b1%d9%8a%d8%a7%d8%b6-%d8%a8%d8%ad%d8%a7%d8%ac%d8%a9-%d8%a5%d9%84%d9%89-%d8%a5%d8%b6%d8%a7%d9%81","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/70333\/","title":{"rendered":"International report predicts: Riyadh needs to add 305,000 new housing units"},"content":{"rendered":"

As population growth accelerates and demand for Residential units<\/a> <\/strong>In the capital city of Riyadh, the Kingdom is heading towards a large-scale urban and economic renaissance. In its latest report, Knight Frank revealed that Riyadh's population is expected to rise from 7 million to 9.6 million by 2030, reflecting the city's new dynamics and its role as a major economic and population center in the Kingdom.<\/p>\n

Knight Frank's report indicated that Riyadh's population, according to the 2022 Census, will grow significantly to 9.6 million by 2030, an increase of 38% compared to 2022 levels. This growth is mainly due to an increase in the number of residents to 5.5 million, along with 4.1 million Saudis. This growth reflects a compounding rate of 4.1% per annum.<\/p>\n

Growing demand for residential units<\/strong><\/span><\/h4>\n

Knight Frank explained that this significant population growth will result in a growing demand for Residential units<\/a><\/strong>Saudis are expected to need an additional 305,000 units between 2024 and 2034. Dr. Christopher Payne, Partner and Chief Economist in the MENA region, notes that this population expansion is the primary driver behind the Kingdom's mega investment projects, especially in Riyadh.<\/p>\n

Boosting Real Estate Inventory<\/strong><\/span><\/h4>\n

To date, according to Knight Frank's analysis, projects have been announced by government entities that will add around 330,000 housing units to Riyadh's stock by 2030. These projects include initiatives from National Housing Company<\/a><\/strong>Roshan, New Square, and Diriyah Gate. More projects are expected to be announced to keep pace with Riyadh's significant population growth in the coming years.<\/p>\n

Growing population<\/b><\/span><\/h4>\n

With a growing population, the number of Saudis working in Riyadh is expected to increase by between 16% and 23% by 2030, and by up to 39% by 2034. The expected increase in office, retail and hospitality stock, amounting to around 30% per sector, will create new job opportunities and keep pace with the needs of the city's growing population.<\/p>\n

Major development projects<\/b><\/span><\/h4>\n

Ian Sinclair, Partner, Project & Development Services Saudi Arabia, emphasized that major development projects will meet the growing demand for housing, services and employment opportunities for Saudis and residents. He pointed out that the project management team of experienced experts in the Kingdom is working to ensure that these projects are executed efficiently to support the ambitious economic transformation.<\/p>\n

Several initiatives are focused on enhancing Riyadh's role as a center for financial and business services, as well as its role in information and communications technology (ICT). This includes major infrastructure projects aimed at fostering a strong economic environment that creates jobs and supports the growth of sectors such as industry and tourism.<\/p>\n

\u0648<\/b>Against this backdrop of economic and demographic shifts, Riyadh is moving steadily towards a bright future, with announced mega projects and projected population expansion showing how the capital will play a pivotal role in realizing the Kingdom's Vision 2030 and spurring sustainable economic growth.<\/p>","protected":false},"excerpt":{"rendered":"

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