Saudi Crown Prince orders key real estate reforms in Riyadh
The Crown Prince's directives are in response to the significant surge in land and rental prices witnessed in recent years. The measures are designed to achieve balance in the real estate sector and increase access to affordable housing, it stated.
As part of the initiative, the Crown Prince ordered the lifting of restrictions on land transactions - including sales, purchases, subdivisions, and construction permits - in two key northern areas of Riyadh.
The first spans 17 sq km, bounded by King Khalid Road and Prince Mohammed bin Saad Road to the west, Prince Saud bin Abdullah bin Jalawi Road to the south, Asmaa bint Malik Street to the north, and Al Arid District to the east.
The second covers 16.2 sq km north of King Salman Road, bordered by Abi Bakr Al Siddiq Road and Al Arid District to the east, Prince Khalid bin Bandar Road to the north, and Al-Qirawan District to the west.
These areas are in addition to previously released areas totaling 48.28 sq km bringing the total area released for development to 81.48 sq km.
The Crown Prince also instructed the Royal Commission for Riyadh City to provide between 10,000 and 40,000 fully planned and developed residential plots annually over the next five years, based on market demand, said the Saudi Gazette report.
These plots will be offered at prices not exceeding SAR1,500 per sq m to eligible Saudi citizens - specifically, married individuals or those aged 25 and above with no previous property ownership, it stated.
Conditions include a ten-year restriction on selling, renting, or mortgaging the land - except for loans to build on it. If construction is not completed within the decade, the land will be reclaimed and its value refunded.
Additional measures include the rapid implementation of proposed amendments to the White Land Tax Law within 60 days to enhance real estate supply, and regulatory actions within 90 days to ensure fair and balanced relationships between landlords and tenants, the report added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Syyaha
5 hours ago
- Syyaha
Insan Association and Apparel Group Announce National Back-to-School Initiative to Support Orphans
Riyadh, KSA – August 2025: Insan Association, a leader in orphan care across KSA, and Apparel Group, a global fashion and lifestyle retail conglomerate, are joining forces this back-to-school season to launch a special initiative designed to help orphaned students start the academic year with confidence and joy. The programme will provide essential learning tools and resources to ensure every child feels ready for the classroom. This collaboration reflects the shared commitment of Insan Association and Apparel Group to go beyond traditional support by building stronger connections with the community and creating meaningful, lasting impact. Together, the two organisations aim to inspire hope and opportunity for children who deserve the best start in life. The partnership also highlights the alignment of human values with responsible business practices. With its wide presence and trusted reputation, Apparel Group is proud to play an active role in enriching lives and supporting social development in the region. Details of the initiative, including activities, contribution channels, and the scale of outreach expected to benefit thousands of orphaned students across the Kingdom, will be announced in the coming days. Both Insan Association and Apparel Group invite the community to take part and continue reinforcing the values of generosity, unity, and care that distinguish Saudi society.
Syyaha
5 hours ago
- Syyaha
emetschek Group and buildingSMART Saudi Arabia Join Forces to Advance Digital Transformation and Open Standards in Saudi Arabia's AEC/O Sector
Riyadh, Saudi Arabia – 20 August 2025 – The Nemetschek Group, a global leader in software solutions for the Architecture, Engineering, Construction, and Operations (AEC/O) industry, has entered a strategic partnership with buildingSMART Saudi Arabia, the Kingdom's chapter of buildingSMART International – the global authority spearheading digital transformation in the built asset collaboration is intended to fast-track the adoption of open Building Information Modeling (openBIM) and international digital standards within Saudi Arabia's construction and infrastructure sectors. The initiative aligns closely with the Kingdom's Vision 2030, supporting national goals around innovation, sustainability, and economic this agreement, both organizations plan to work together to facilitate the implementation of openBIM and digital standards in the AEC/O sector and to identify pilot projects for applying Nemetschek's solutions to enhance project efficiency, safety, and cost the collaboration sets forth plans to co-develop and deliver professional certification programs, specialized training workshops, and advanced BIM implementation courses specifically designed for the Saudi market. The partnership will also introduce advisory services focused on ESG-aligned, digitally enabled practices and green building initiatives.'This partnership reflects our commitment to revolutionizing how buildings and infrastructure are designed, constructed, and operated,' said Yves Padrines, CEO of the Nemetschek Group. 'By aligning our digital technologies and open standards expertise with buildingSMART's leadership in the Kingdom, we are laying the foundation for a smarter, more connected, and more sustainable infrastructure landscape.'Supporting Vision 2030 Through Innovation, Sustainability, and CollaborationThe collaboration will champion the widespread adoption of open standards, enabling seamless data exchange and true interoperability across all project stakeholders in Saudi Arabia. By fostering a truly open ecosystem, this partnership will revolutionize the Kingdom's AEC/O market, driving unprecedented levels of efficiency, collaboration, and innovation. This move is a game-changer for Saudi Arabia, empowering a more connected and technologically advanced built environment.'This collaboration aligns seamlessly with Saudi Arabia's Vision 2030 and its bold aspirations for digital innovation and infrastructure development,' said Muayad Simbawa, Managing Director of Nemetschek Arabia. 'Together with buildingSMART Saudi Arabia, we aim to empower the Kingdom's construction ecosystem with the tools, skills, and standards needed to accelerate progress and deliver world-class projects.'For his part, Abdul-Rahman AL-Ghabban, Chairman of buildingSMART Saudi Arabia, said: 'Our partnership with the Nemetschek Group marks a pivotal step towards elevating Saudi Arabia's construction sector to global standards. We are excited to collaborate on advancing open standards and fostering innovation in building practices, creating lasting value for our industry and our nation.' Through this collaboration, Nemetschek Arabia and buildingSMART Saudi Arabia reaffirm their shared commitment to modernizing the Kingdom's AEC/O industry. Together, they aim to unlock greater efficiency, foster innovation, and drive sustainable transformation across Saudi Arabia's urban development and infrastructure ecosystem.
Gulf Insider
a day ago
- Gulf Insider
Saudi Arabia: Riyadh To Host 3rd World Defense Show In February 2026
Under the patronage of Custodian of the Two Holy Mosques King Salman, the General Authority for Military Industries (GAMI) will host the third edition of the World Defense Show (WDS) in Riyadh in February 2026. On behalf of the King, Minister of Defense and GAMI Vice Chairman Prince Khalid bin Salman will open the grand global event, scheduled to take place from February 8 to 12. The World Defense Show embodies the Kingdom's visionary leadership, serving as a future-focused, domain-driven international event designed to be the gold standard for global defense exhibitions. It receives full support from all relevant ministries, authorities, and companies, with participation from strategic entities in both the Saudi public and private sectors. GAMI Governor Ahmad Al-Ohali expressed his gratitude to King Salman and Crown Prince, Prime Minister and Chairman of GAMI Mohammed bin Salman for their generous patronage and unwavering support for the military industries sector. 'The royal patronage is an extension of the leadership's unwavering support to localizing 50 percent of military expenditure in line with the Kingdom's Vision 2030. This commitment to innovation and cooperation exemplifies our dedication to fostering global partnerships, leveraging our strategic location, and harnessing the Kingdom's industrial capabilities. Together, we are shaping the future of defense, ensuring stability and growth for our nation,' he said. World Defense Show CEO Andrew Pearcey said: 'The 2026 edition will build on the collaboration between government and industry to create a unique environment where the global defense supply chain can meet, share ideas, and do business. Through expanded venue capacity, cutting-edge content, and a strong focus on technology transfer and talent development, WDS 2026 will serve as a global catalyst—bringing together leaders, innovators, and emerging talent to chart the path for the defense industry's future.' WDS is expanding its 2026 edition with a fourth exhibition hall, increasing its total exhibition space by 58 percent compared to the inaugural event. The venue is designed to the highest international standards, which will enhance cooperation, partnership building, and the overall visitor experience.
