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Riyadh Emir Distributes Land to Beneficiaries
The Governor of Riyadh Province, Prince Faisal bin Bandar, officially handed over the first batch of residential lands to beneficiaries of the Real Estate Balance Program in the neighborhoods of Al-Nakhil, Al-Malqa, and Al-Qirwan in Riyadh City, after completing the official procedures. The program, which is overseen by the Crown Prince, aims to provide between 10,000 and 40,000 developed plots of land annually over five years at a price not exceeding 1,500 riyals per square meter, in order to address the supply and demand gap and reduce price inflation. During the first year, 10,024 plots of land were allocated, covering an area of over 6.3 million square meters, to promote stability in the real estate market and achieve sustainable urban development aligned with modern urban concepts, with an emphasis on green spaces and services.
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