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Saudi Arabia Opens Land Applications Next Sunday
The Royal Commission for Riyadh City has announced that they are now accepting applications for the second year of the Real Estate Balance Program. This initiative aims to increase the supply of planned residential lands by offering between 10,000 and 40,000 land plots annually at prices not exceeding 1,500 Riyals per square meter. The goal is to bridge the gap between supply and demand and promote stability in Riyadh's real estate market. Applications are open to Saudi citizens who are married or over 25 years old, provided they have no previous ownership and have resided in Riyadh for at least three years, among other conditions. There is no preferential treatment in eligibility, as applications will be verified electronically. The results will be announced, and the electronic draw process will be managed after the registration period ends. The program seeks to provide affordable land options and allows previous beneficiaries to apply again in the second year. It emphasizes the importance of relying solely on the official platform and avoiding interaction with untrusted links.
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