Saudi Gazette report
RIYADH — Saudi family possession charge reached 65.4 p.c by the top of 2024, surpassing the 2025 goal of 65 p.c. This consequence underscores the effectiveness of housing and financing initiatives carried out in partnership with stakeholders, in accordance with the annual report 2024 of the Housing Program, one of many initiatives of the Saudi Imaginative and prescient 2030.
The report additionally famous that greater than 122,000 households have benefited from housing assist over the last 12 months, whereas over 21,000 eligible households had been capable of personal houses by improvement housing applications. The 12 months 2024 additionally noticed the signing of greater than 13,000 contracts for land merchandise affiliated with the Ministry of Municipalities and Housing, in addition to round 16,000 contracts for self-construction, over 49,000 contracts for ready-built items, and greater than 27,000 contracts for off-plan gross sales.
The report titled “From Determination to Stability” highlights key efficiency indicators and strategic achievements which have supported the nationwide financial system, boosted non-oil GDP, and superior the targets of Saudi Imaginative and prescient 2030. It displays the eye and assist that this system has acquired from the management, which is dedicated to enhancing housing stability for residents.
The report confirmed that this system’s technique efficiently addressed the accelerating tempo of house possession regardless of international financial challenges. It launched improvement initiatives and tasks that expanded housing alternatives, attracted non-public sector companions, and created jobs and funding prospects.
The Housing Program goals to allow Saudi households to personal appropriate houses with ease by a bundle of housing and financing options that serve totally different segments of society throughout all areas of the Kingdom. This helps the targets of Saudi Imaginative and prescient 2030, which seeks to lift the house possession charge to 70 p.c.
