Results of the residential land lottery in Riyadh via the Real Estate Balance platform
In a strategic move aimed at enhancing stability in the real estate market and providing sustainable housing solutions, the Royal Commission for Riyadh City announced today the final results of the electronic lottery for residential land purchases, conducted through the Real Estate Balance Platform . This announcement culminates diligent efforts to implement the directives of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister – may God protect him – aimed at achieving a balance between supply and demand in the capital's real estate sector.
Details of the draw and the transparency mechanism
The authority affirmed that the selection process and lottery were conducted according to the highest standards of transparency and fairness, overseen by an independent committee comprising representatives from key government entities: the Ministry of Justice, the General Authority for Real Estate, the Riyadh Municipality, and the Saudi Data and Artificial Intelligence Authority (SDAIA). Advanced technological algorithms were employed to ensure equal opportunities for all applicants who passed the eligibility verification stage and whose appeals had been previously reviewed.
Designated sites and spaces
The results revealed the allocation of vast areas totaling 6,380,600 square meters , divided into residential plots of 300 square meters each. These lands are distinguished by their prime locations within the urban fabric of Riyadh, encompassing planned developments in prominent neighborhoods such as Al-Qayrawan, Al-Malqa, Al-Nakheel, Al-Narjis, Nimar, Al-Rumayh, Al-Rimal, and Al-Janadriyah. These locations were carefully selected to align with the city's planned urban expansion.
Context of the vision and importance of the event
This announcement is not merely a land distribution; it represents a pivotal part of Riyadh's strategy to accommodate anticipated population growth and enhance quality of life, in line with the goals of the Kingdom's Vision 2030 , which aims to increase homeownership rates among citizens. Injecting over 6 million square meters of developed land into the market directly contributes to curbing price inflation and increasing the supply of real estate, thus creating a fair and competitive environment that primarily benefits citizens.
Next steps for beneficiaries
The authority urged eligible beneficiaries to immediately access the Real Estate Balance Platform to view details of their allocated plots. It explained that the beneficiary's digital journey will continue through the platform, encompassing off-plan sales procedures, physical site handover, and ultimately, completion of construction phases in accordance with the approved urban code for the city of Riyadh, which ensures visual and urban harmony reflecting the capital's identity.
The authority concluded its statement by emphasizing that this offering is the beginning of a series of upcoming installments that will continue over the next four years, which enhances the sustainability of housing solutions and confirms the wise leadership’s commitment to harnessing all capabilities to serve citizens and develop the capital’s infrastructure.
