Minister of Municipalities and Housing, Majed Al-Hogail, said that more than 300,000 housing units expected to be supplied in Riyadh over the next three years
Homeownership rate among Saudis exceeded 66% in 2025, while the number of beneficiaries of the Housing Support Program has surpassed one million to date, Minister of Municipalities and Housing, Majed Al-Hogail, said. 
Speaking at the Real Estate Future Forum, Al-Hogail added that Riyadh stands out as a major opportunity for real estate development projects, with more than 300,000 housing units expected to be supplied in the city over the next three years.
He noted that the area of land in Riyadh ready for real estate development and equipped with infrastructure exceeds 100 million square meters.
Regarding opening the real estate market to foreign ownership, Al-Hogail explained that the government, as usual, is keen not to open the market until it has reached sufficient maturity and capacity to manage such a step. He noted that today, under the leadership of the Crown Prince, an integrated framework is in place that coordinates with all relevant entities.
He stated that allowing foreign ownership of real estate will come into effect within a framework of trust and clear regulations, opening new horizons for both Saudi and foreign developers and for the national economy, while preserving citizens’ priority and urban stability, as part of building an organized and transparent market.
The minister further noted that, in its third phase, the Housing support Program aims to support more than 367,000 beneficiaries, with the goal of achieving a 70% homeownership rate among Saudi households by 2030.
Minister of Municipalities and Housing, Majed Al-Hogail, said that more than 300,000 housing units expected to be supplied in Riyadh over the next three years
Homeownership rate among Saudis exceeded 66% in 2025, while the number of beneficiaries of the Housing Support Program has surpassed one million to date, Minister of Municipalities and Housing, Majed Al-Hogail, said.
Speaking at the Real Estate Future Forum, Al-Hogail added that Riyadh stands out as a major opportunity for real estate development projects, with more than 300,000 housing units expected to be supplied in the city over the next three years.
He noted that the area of land in Riyadh ready for real estate development and equipped with infrastructure exceeds 100 million square meters.
Regarding opening the real estate market to foreign ownership, Al-Hogail explained that the government, as usual, is keen not to open the market until it has reached sufficient maturity and capacity to manage such a step. He noted that today, under the leadership of the Crown Prince, an integrated framework is in place that coordinates with all relevant entities.
He stated that allowing foreign ownership of real estate will come into effect within a framework of trust and clear regulations, opening new horizons for both Saudi and foreign developers and for the national economy, while preserving citizens’ priority and urban stability, as part of building an organized and transparent market.
The minister further noted that, in its third phase, the Housing support Program aims to support more than 367,000 beneficiaries, with the goal of achieving a 70% homeownership rate among Saudi households by 2030.
