Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh Region, has handed over the first batch of land plots allocated to beneficiaries in the first year of the Real Estate Balance Program in Riyadh’s Al Nakheel, Al Malqa, and Al Qirawan districts.
The handover followed the completion of the procedures required for beneficiaries to take ownership of their plots. Deliveries to the remaining beneficiaries will continue in stages, subject to the readiness of plans and land plots and the completion of the necessary procedures, according to the Saudi Press Agency (SPA).
The program aims to provide between 10,000 and 40,000 residential land plots annually over five years, at a price not exceeding SAR 1,500 per square meter. It is part of efforts to achieve real estate balance in Riyadh, as directed by Crown Prince Mohammed bin Salman, Prime Minister and Chairman of the Royal Commission for Riyadh City (RCRC).
During the first year, a total of 10,024 residential land plots were allocated, covering a total area of more than 6.3 million square meters across several locations in Riyadh.
The commission further confirmed that development work on the first-year plans is progressing in line with the approved implementation phases. It clarified that the plans are being developed according to urban and planning concepts that take into account quality of life, integrated services, green spaces, ease of access, and diverse housing needs, supported by design guidelines and urban and architectural standards.
Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh Region, has handed over the first batch of land plots allocated to beneficiaries in the first year of the Real Estate Balance Program in Riyadh’s Al Nakheel, Al Malqa, and Al Qirawan districts.
The handover followed the completion of the procedures required for beneficiaries to take ownership of their plots. Deliveries to the remaining beneficiaries will continue in stages, subject to the readiness of plans and land plots and the completion of the necessary procedures, according to the Saudi Press Agency (SPA).
The program aims to provide between 10,000 and 40,000 residential land plots annually over five years, at a price not exceeding SAR 1,500 per square meter. It is part of efforts to achieve real estate balance in Riyadh, as directed by Crown Prince Mohammed bin Salman, Prime Minister and Chairman of the Royal Commission for Riyadh City (RCRC).
During the first year, a total of 10,024 residential land plots were allocated, covering a total area of more than 6.3 million square meters across several locations in Riyadh.
The commission further confirmed that development work on the first-year plans is progressing in line with the approved implementation phases. It clarified that the plans are being developed according to urban and planning concepts that take into account quality of life, integrated services, green spaces, ease of access, and diverse housing needs, supported by design guidelines and urban and architectural standards.
