Saudi Gazette report

RIYADH — Minister of Municipalities and Housing Majed Al-Hogail said that the housing sector continued to advance its role in empowering Saudi families, with more than 1.2 million families benefiting from housing support programs.

Addressing the Budget Forum 2026 in Riyadh on Wednesday, the minister highlighted the housing sector’s most notable achievements in 2025 and outlined key plans for the coming year. “Since the program’s launch, 920,000 families have moved into their homes, and the homeownership rate among citizens reached 65.4 percent by the end of 2024. The target is to increase this rate to 66 percent by 2026 and to sign 100,000 new housing contracts,” he said.

Al-Hogail noted that housing finance in the Kingdom reached SR938 billion by the end of the third quarter of 2025. He added that housing projects will continue to be issued and expanded, including the provision of 107,000 units and developed land in 2025, followed by an additional 80,000 new units in 2026. These efforts aimed to boost real estate supply and achieve greater price balance. He also highlighted that developmental housing programs have enabled more than 50,000 families to own their homes, and that plans include offering 20,000 new rental units in 2026.

Al-Hogail emphasized progress in enhancing the urban landscape, including the addition of 2.5 million square meters of parks and green spaces in 2025, the updating of urban planning regulations, and the implementation of 19 Saudi architectural styles in nine cities. He also pointed to sustainability initiatives and smart city solutions that the ministry will continue to expand during 2026.

“These initiatives contribute to improving the quality of life, supporting the goals of Vision 2030, and encouraging greater public-private partnership in housing and infrastructure projects to enhance service efficiency and provide citizens with more diverse options,” he said.