Riyadh Prince Allocates Land to Beneficiaries
The Prince of Riyadh Region, Faisal bin Bandar, has released the first batch of land plots to beneficiaries of the Real Estate Balance Program in the neighborhoods of Al Nakhil, Malqa, and Qirwan, aiming to organize the distribution of residential land and achieve balance in the city's real estate market. This comes after the beneficiaries completed their ownership procedures, with the continued delivery of new lands in line with the readiness of the development plans. The program seeks to provide between 10,000 and 40,000 land plots annually over five years, at prices below 1,500 Riyals per square meter. The initiative aims to reduce real estate inflation, support housing stability, and promote sustainable development in Riyadh.
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