Housing rental support targets for 2025: 99,000 contracts and 38,000 beneficiaries
The Saudi Ministry of Municipalities and Housing announced its ambitious targets for 2025 under the Housing Rent Support Program, revealing a plan to document 99,000 new rental contracts and provide necessary support to 38,000 eligible individuals. This initiative complements the Ministry's ongoing efforts to regulate the real estate sector and enhance housing stability for Saudi families.
Enhancing transparency and regulating the rental sector
This announcement is an integral part of the Ministry's strategy to develop the regulatory environment for the rental sector in the Kingdom, a strategy that effectively began with the launch of the "Ejar" network. This integrated electronic network aims to regulate the relationship between the parties involved in the rental process (tenant, landlord, and real estate broker) and safeguard the rights of all parties through standardized, documented contracts approved by the Ministry of Justice. The target of documenting 99,000 contracts by 2025 reflects the growing reliance on official digital channels, which contributes to reducing real estate disputes and enhancing the efficiency of market transactions.
Housing support programs and the Kingdom's Vision 2030
Regarding the support provided to 38,000 cases, this initiative falls under the umbrella of social protection offered by the Housing Program, one of the programs of the Kingdom's Vision 2030. Through these initiatives, the Ministry seeks to provide a safety net for the most vulnerable families, or those facing exceptional circumstances that prevent them from paying rent. These efforts are complemented by other national platforms, such as the "Jood Housing" platform, to ensure a decent life for citizens and increase the rate of homeownership, or at least guarantee stability in suitable housing through the subsidized rental system.
Expected economic and social impact
This expansion in documentation and support has significant economic and social dimensions. Economically, documenting contracts contributes to providing an accurate database of the real estate market, helping investors and developers make decisions based on facts and figures, and enhancing the attractiveness of investment in the residential rental sector. Socially, supporting 38,000 cases means protecting thousands of families from disintegration and ensuring their psychological and social stability, which directly contributes to improving the quality of life for Saudi society as a whole.
In conclusion, these figures confirm the Ministry of Municipalities and Housing’s commitment to moving forward with automating services and providing sustainable housing solutions, in line with the Kingdom’s future aspirations and achieving well-being for citizens.
