Real Estate Overview
The real estate sector is a key pillar of the Kingdom’s vision for a vibrant society. With a significant young population and steady demand, Saudi Arabia has taken steps to transform the real estate sector. The 70% home ownership goal set by Vision 2030 has provided new impetus to the attractiveness of the real estate sector, along with the government’s strong commitment to involve the private sector in this journey
The government provides significant support to the development of the sector by improving technology uptake in the entire value chain, enhancing transparency through publishing real estate indicators online, launching the Developers Services Center (Etmam) to create an attractive investment environment, while providing innovative financing solutions to enable consumers.
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Real Estate Sector
of new units built using new technology
home ownership target by 2030
built-up area expected to be developed by 2030
housing units to be built by 2030
Sharp demand increase in the real estate market
- Greatest potential for the construction sector within the GCC driven by strong market fundamentals.
- Rapid growth of a large and young national population, with an estimated population growth of 6 million by 2030, coupled with a middle-income class able to afford housing units.
- The existing $20.5 billion demand for real estate services is distributed across different segments: $9.9 billion for contracting and sub-contracting services, $6.9 billion for architectural, engineering and environmental consulting services, and $3.7 billion for facilities management services.
- Mortgage loans expected to increase from $133.3 billion to $213.3 billion over the next 10 years.
Strong government support for sustainable and profitable growth
- The Real Estate Development Fund (REDF) provides accessible financing solutions to ensure proper housing to all segments of society.
- The Saudi Real Estate Refinancing Company (SRC) was established in 2017 to enable originators to offer long and short-term financing solutions to homebuyers by refinancing loan portfolios and developing the housing finance market.
- Etmam, a one-stop shop digital platform hosting over 35 services under one roof to empower developers, has been launched to facilitate procedures for developers and stakeholders, speed up approvals, and provide integrated consulting solutions to developers.
Efficient use of technology for world-class standards
- In line with Vision 2030, around 400,000 units (including residential, commercial and industrial) are expected to be built using modern methods of construction (MMC) by 2025.
- The Building Technology Stimulus Initiative (BTSI), under Ministry of Municipal and Rural Affairs and Housing, aims at increasing the adoption of MMC to boost competitiveness and production. The initiative supports existing factories, as well as offers incentives to attract new factories through financial and non-financial means.
- Capital, expansion, modernization financing.
- Engineering advisory services, upskilling services.
- Set-up financing (75% of the required capital investment as well up to 6 months of working capital requirements).
Real Estate Opportunities
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