Saudi Arabia plans 600,000 homes by 2030
The article discusses Saudi Arabia's efforts to achieve Vision 2030 in developing the real estate sector. It highlights the issuance of more than 25 legislations and regulations to regulate the real estate market and to balance supply and demand, aiming to reach 600,000 residential units by 2030. It emphasizes that these regulations, such as property registration and white land fees, have benefited over one million families, along with improving the housing support methodology by focusing on rapid readiness. The article also notes efforts to partner with the private sector and empower developers, with the goal of increasing the number of available units from the current 300,000 to the targeted number, and boosting the partnership rate with developers through policies that promote urban density and effective land use, in order to enable 70% of citizens to own homes by 2030.
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