Saudi Gazette report
RIYADH — Saudi family possession fee reached 65.4 p.c by the tip of 2024, surpassing the 2025 goal of 65 p.c. This consequence underscores the effectiveness of housing and financing initiatives applied in partnership with stakeholders, in keeping 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 yr, whereas over 21,000 eligible households had been in a position to personal properties by improvement housing packages. The yr 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 models, 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 economic system, boosted non-oil GDP, and superior the objectives 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 dwelling possession regardless of international financial challenges. It launched improvement initiatives and initiatives 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 properties 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 objectives of Saudi Imaginative and prescient 2030, which seeks to boost the house possession fee to 70 p.c.