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Yahoo
13-05-2025
- Business
- Yahoo
Saudi Arabia Residential Real Estate Market Trends, Competition, Forecast & Opportunities, 2030F: Government Initiatives Propel Saudi Homeownership and Mortgage Growth
Saudi Arabia's Residential Real Estate Market is projected to grow from USD 42 Billion in 2024 to USD 66 Billion by 2030, with a CAGR of 7.91%. Key drivers include demographic shifts, urbanization, and government initiatives for increased homeownership. Addressing affordability and expanding the mortgage market are crucial challenges and trends. Saudi Arabian Residential Real Estate Market Dublin, May 13, 2025 (GLOBE NEWSWIRE) -- The "Saudi Arabia Residential Real Estate Market, Region, Competition, Forecast & Opportunities, 2020-2030F" has been added to offering. The Saudi Arabia Residential Real Estate Market, valued at USD 42 billion in 2024, is projected to ascend to USD 66 billion by 2030, with a CAGR of 7.91%. Key drivers for this growth include an increasing youthful population, rapid urbanization, and a concerted government focus on boosting homeownership to 70% by 2030. Demographically, Saudi Arabia boasts a young and expanding population. With over 60% of its populace under the age of 35, a rising demand for residential properties is evident, driven by aspirations for higher living standards. By 2030, the population is anticipated to surpass 40 million, further intensifying the need for diverse housing solutions in urban centers like Riyadh, Jeddah, and Dammam. Urban migration continues to affect the housing landscape significantly. As more citizens move to cities, the demand for urban housing escalates, motivating developers to innovate in the realm of residential design. This shift encompasses a transition toward smaller family units and increased preference for apartments or townhouses over traditional larger homes. Homeownership is becoming increasingly feasible due to an expanding mortgage market. With initiatives like the Sakani program and the Real Estate Development Fund offering financial assistance, purchasing homes is more attainable. Financial institutions are providing flexible mortgage terms, while regulatory changes by the Saudi Central Bank (SAMA) fuel competition and credit availability. These efforts have led to double-digit annual growth in residential mortgages. Despite positive developments, challenges such as housing affordability persist. Many low- and middle-income citizens struggle with the gap between their financial capacity and rising housing prices. To address this, enhanced public-private partnerships and policy reforms are needed to incentivize developers to focus on affordable housing. Market players influencing the Saudi residential real estate landscape include Christie International Real Estate, ColdWell Banker Real Estate Company, Al Habtoor Group, and others. These companies play pivotal roles in various segments, from luxury developments to affordable housing. The market is segmented into new constructions and resales, with categories including flats, individual houses, condominiums, and townhouses. Modes of transaction span online and offline platforms, covering regions such as Riyadh, Makkah, Madinah, and Dammam. The competitive landscape is marked by profiles of major companies driving the market, with detailed analyses available. The publisher offers customizations tailored to company-specific needs, providing valuable insights into additional market players. Key Attributes: Report Attribute Details No. of Pages 86 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $42 Billion Forecasted Market Value (USD) by 2030 $66 Billion Compound Annual Growth Rate 7.9% Regions Covered Saudi Arabia Key Topics Covered: 1. Product Overview1.1. Market Definition1.2. Scope of the Market1.3. Key Market Segmentations2. Research Methodology2.1. Objective of the Study2.2. Baseline Methodology2.3. Formulation of the Scope2.4. Assumptions and Limitations2.5. Sources of Research2.6. Approach for the Market Study2.7. Methodology Followed for Calculation of Market Size & Market Shares2.8. Forecasting Methodology3. Executive Summary3.1. Overview of the Market3.2. Overview of Key Market Segmentations3.3. Overview of Key Market Players3.4. Overview of Key Regions/Countries3.5. Overview of Market Drivers, Challenges, and Trends4. Voice of Customer5. Saudi Arabia Residential Real Estate Market Outlook5.1. Market Size & Forecast5.2. Market Share & Forecast5.3. Market Map6. Riyadh Residential Real Estate Market Outlook6.1. Market Size & Forecast6.2. Market Share & Forecast7. Makkah Residential Real Estate Market Outlook7.1. Market Size & Forecast7.2. Market Share & Forecast8. Madinah Residential Real Estate Market Outlook8.1. Market Size & Forecast8.2. Market Share & Forecast9. Eastern Province Residential Real Estate Market Outlook9.1. Market Size & Forecast9.2. Market Share & Forecast10. Dammam Residential Real Estate Market Outlook10.1. Market Size & Forecast10.2. Market Share & Forecast11. Market Dynamics11.1. Drivers11.2. Challenges12. Market Trends & Developments12.1. Merger & Acquisition (If Any)12.2. Product Launches (If Any)12.3. Recent Developments13. Company Profiles13.1. Christie International Real Estate13.2. ColdWell Banker Real Estate Company13.3. Al Habtoor Group13.4. DLF Ltd13.5. Hochtief Corporation13.6. IJM Corporation Berhad13.7. Engel & Volkers AG13.8. Lennar Corporation13.9. Raubex Group Ltd13.10. Pultegroup Inc. For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Saudi Arabian Residential Real Estate Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Asharq Al-Awsat
08-05-2025
- Business
- Asharq Al-Awsat
Saudi Arabia Expands Homeownership Eligibility in Government Housing Projects
Saudi Arabia's Cabinet has approved a new decision allowing the Ministry of Municipal and Rural Affairs and Housing to sell residential units within its housing projects to individuals who are not beneficiaries of government housing support. Real estate experts view the move as a strategic shift that boosts the flexibility of public asset management and maximizes the use of available housing stock. The decision is expected to boost supply, improve market balance, and promote sustainability in the housing sector. According to Abdulrahman Al-Tawil, Deputy Minister for Residential Supply Stimulus and Real Estate Development, the decision aims to broaden access to homeownership by including new population segments. Families and individuals who do not qualify for housing support will now be able to purchase units or relocate between homes in new suburban developments overseen by the ministry. Single individuals and those who previously received loans from the Real Estate Development Fund will be eligible to buy homes in projects launched within the past two years. However, non-beneficiaries will purchase units at market rates, while support recipients will continue to receive financial assistance. Al-Tawil emphasized that each project will initially offer a four-month window of exclusive sales to support beneficiaries before opening to the wider public. The move is also designed to align housing supply with urban demand. Al-Tawil cited over 100,000 housing units currently available in Riyadh, offering a range of ownership options that address diverse needs. Real estate appraiser Eng. Ahmed Al-Faqih believes the decision will have a significant impact on the market by strengthening housing supply and supporting price stability. The entry of the National Housing Company into the private market adds a new, competitive dynamic that developers must consider when pricing their products, he told Asharq Al-Awsat. This competition, he said, will not only influence pricing but also encourage developers to prioritize quality—an essential goal of Saudi Arabia's Vision 2030. Real estate expert Saqr Al-Zahrani also praised the decision. Speaking to Asharq Al-Awsat, he said it addresses the issue of unsold inventory and offers homeownership opportunities to underserved citizens. He highlighted its potential to generate non-oil revenue and support long-term project sustainability without compromising the priority status of current beneficiaries. Expanding ownership eligibility could help close gaps in the real estate market, especially in cities where ownership remains low, he added, while expecting the decision to encourage innovation in housing development and financing, further stimulating competition between public and private sectors. On the issue of housing inflation, Al-Zahrani noted that increasing actual supply will reduce speculative activity and promote more disciplined pricing. This is especially critical for middle-income buyers who face volatility in the current market. Effective implementation of the policy, supported by clear regulations and transparency, will be vital to achieving its intended outcomes, he remarked.
Asharq Al-Awsat
10-03-2025
- Business
- Asharq Al-Awsat
Saudi Homeownership Rate Approaches 2030 Target
Saudi Arabia is steadily progressing toward achieving its housing program targets under Vision 2030, with homeownership rates among Saudi families reaching 63.7% in the past year. This marks a significant step toward the program's goal of 70% homeownership by the end of the decade. According to a recent report from the Ministry of Municipal and Rural Affairs and Housing, more than 205,000 off-plan housing units were licensed and launched in 2024, with over 60,000 units delivered. Additionally, Sakani, the government's housing initiative, made 165,000 plots of land available, allowing beneficiaries to build homes tailored to their future needs. To support low-income families, the ministry provided over 50,000 housing units, reinforcing its commitment to sustainable social housing solutions. Efforts continue to diversify options and create integrated residential communities that meet citizens' needs. The Real Estate Development Fund (REDF) deposited SAR 11.9 billion ($3.1 billion) into the accounts of Sakani beneficiaries last year. The program offers digital services that help recipients customize their housing support and select optimal financing solutions. By the end of 2024, more than 122,000 families had benefited from Sakani's housing support services. The 'Your Installment is Your Support' program, which offers flexible payment options for off-plan and self-construction homes, recorded 2,700 beneficiaries. Additionally, 107,000 housing finance contracts were signed, demonstrating the continued growth of the sector. Financing solutions with a reduced interest margin of 2.59% were provided to over 22,000 Sakani beneficiaries in the low-income category. Meanwhile, nearly 962 beneficiaries received subsidized installment plans, and 59,000 low-income families secured government-supported mortgage loans. In total, Sakani provided approximately 70,000 financing packages for off-plan, ready-built, and self-construction homes. In its latest quarterly report, Sakani outlined key initiatives aimed at enabling Saudi families to own their first home. The program continues to expand housing options and financial solutions to improve homeownership rates, enhance citizens' quality of life, and align with Vision 2030 housing objectives. The report highlighted a variety of financial solutions used by families in late 2024, including off-plan units, self-construction, ready-built homes, and land support programs. By year-end, more than 107,000 financing contracts had been signed, with nearly 58,000 benefiting low-income families. To cater to different financial needs, Sakani offers a range of customized financing solutions, including financial support packages, down payment assistance, in-kind support, reduced financing margins, affordable mortgage plans, flexible installment options, and mortgage guarantee programs.
