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Riyadh, Saudi Arabia
The Undersecretary of the Ministry of Municipalities and Housing to stimulate the housing supply and real estate development, Abdulrahman Al-Taweel, confirmed that more than 27 million square meters have entered into development in the city of Riyadh thanks to the white land fees program, in a move that reflects the Kingdom's efforts to enhance the real estate supply and achieve balance in the residential market.
Al-Taweel said in an interview with Al Arabiya Business that the Real Estate Developer Services Center (Etmam) has become the unified umbrella for serving real estate developers through various phases of the project, from land planning and the adoption of plans to the stages of implementation and operation, which contributes to accelerating the development cycle and reducing the procedural challenges facing investors.
The Saudi market index erases its morning losses and approaches again 10 thousand points
He added that the center has adopted cumulative organizational plans exceeding 800 million square meters, and has treated more than 770 development obstacles, which contributed to raising the efficiency of land development and stimulating real estate investment. He pointed to the adoption of designs for more than 300 thousand licenses
Al-Taweel pointed out that more than 80,000 housing units belonging to the National Housing Company are being transferred to the market during 2026, stressing that the growth of building licenses by 37% reflects the acceleration of real estate development and the pumping of more residential products in line with the objectives of Saudi Vision 2030 to raise ownership rates and achieve balance between supply and demand.
He explained that the real estate balance strategy implemented by the ministry aims to increase the housing supply and improve the efficiency of the market, which contributes to pushing housing prices towards fairer and more sustainable levels in the long term, pointing out that the abundance of supply is one of the most important factors affecting price stability.
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