Al-Haqil reviews municipal sector investments and promising housing opportunities

His Excellency the Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al-Hogail, emphasized the pivotal role of the municipal sector in the economic and social development of the Kingdom of Saudi Arabia during his participation in the ministerial session of the Public Investment Fund and Private Sector Forum. He highlighted the sector's immense size, noting that it currently oversees more than 7 million workers and over 970,000 establishments, making it a fundamental pillar of the national economy.

Vision 2030 and strengthening partnership with the private sector

The minister's remarks come within the context of the major transformations the Kingdom is undergoing as part of Vision 2030, where national strategies aim to empower the private sector to be the main driver of economic growth. Al-Haqil explained that the significant overlap between the municipal and private sectors stems from the nature of the regulations and standards governing their work. He noted that the ministry has worked over the past years according to five strategic pillars: quality of life in cities and neighborhoods, urban identity and the urban landscape, attracting investment, urban sustainability and resilience, and efficiency in achieving objectives.

Privatization of the housing sector and the new business model

In a move reflecting the success of privatization policies, Al-Hogail revealed that the housing sector has been fully privatized in terms of development, value chain, and financing. This transformation serves as a model for public-private partnerships, where the roles of government entities and the General Authority for Real Estate are limited to legislation and regulation, while the private sector handles implementation and operation. This approach, supported by digital solutions, has contributed to enhancing the sector's resilience and accelerating its growth.

Promising investment opportunities and the "Opportunities" platform

His Excellency the Minister reviewed the promising investment figures for the sector, noting that direct investment opportunities in the municipal (non-development) sector are expected to exceed SAR 130 billion by 2030, while opportunities in the housing sector will surpass SAR 250 billion. He also highlighted the significant success of the "Furas" platform, which has attracted over 180,000 investors with contracts totaling nearly SAR 13 billion, reflecting the maturity of the Saudi market and its attractiveness to various investor categories, from micro-enterprises to large corporations.

Humanizing cities and moving towards the future

As part of efforts to improve the urban landscape and humanize cities, Al-Hogail announced the signing of approximately 190 park contracts during 2025, with a financial impact exceeding 1.5 billion riyals. He concluded by emphasizing the importance of adopting future technologies, such as artificial intelligence and data analytics, to enhance the efficiency of municipal and logistical services, expressing his optimism about the Kingdom's ability to attract more foreign and domestic investments to contribute to the national transformation story.