The rate of homeownership among citizens in Saudi Arabia has risen to 66.2%
His Excellency the Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al-Hogail, affirmed that the continuous and diligent efforts exerted within the framework of the housing program have yielded record results, contributing to raising the rate of homeownership among citizens to reach 66.2% by the end of 2025. His Excellency explained that this qualitative leap was accompanied by the number of beneficiaries of immediate and sustainable housing support reaching more than one million beneficiaries, reflecting the success of the strategies adopted and the integration of efforts between the housing system and the relevant financing and development entities.
A qualitative leap within the Kingdom's Vision 2030
These figures represent the culmination of a major transformation in the Saudi Arabian housing sector since the launch of Vision 2030. Prior to the Vision, homeownership rates were significantly lower, prompting the launch of the Housing Program as a key component of its implementation. This program shifted the focus of support from direct construction to empowering citizens through diverse financing and housing solutions, in partnership with the private sector and real estate developers, with the goal of achieving 70% homeownership by 2030.
Government support and its economic and social impact
In a related context, Al-Haqil expressed his deepest gratitude to the Council of Ministers for the praise and appreciation bestowed upon the housing program, emphasizing that this unwavering support reflects the wise leadership's profound commitment to the housing sector as a cornerstone of comprehensive development and family stability. He noted that the Council of Ministers' recognition serves as a powerful incentive for all those working within the system to continue their diligent efforts.
The impact of increased homeownership rates is not limited to the social aspect, but extends to include a broad economic impact; as the activity of the real estate sector has contributed to boosting the non-oil GDP, creating thousands of job opportunities in the construction, building and finance sectors, in addition to stimulating industries related to building materials.
Sustainability of solutions and diversity of options
The minister concluded his statement by emphasizing the ongoing commitment to developing innovative housing solutions and diversifying financing and regulatory options. These steps aim to ensure the sector's sustainability, enhance the quality of life for citizens, and meet the aspirations of Saudi families across the Kingdom, guaranteeing that every citizen has access to suitable housing that aligns with their needs and financial capabilities, thus achieving the ambitious goals of Vision 2030.
