RIYADH: A recent release states that, as part of a new property program, transactions in the Saudi Arabian real estate market totaled around SR1.2 trillion ($319.8 billion) between July 2023 and July 2025.
Following the second Real Estate Brokerage Forum 2025, which took place at the Riyadh International Convention and Exhibition Center, the General Real Estate Authority disclosed the data, according to the Saudi Press Agency.
Vision 2030, which seeks to increase homeownership from around 63.7 percent in 2023 to 70 percent by 2030, is revolutionizing the Saudi real estate market. The plan’s primary objectives are to double mortgage activity through increased bank involvement, diversify financing, and expand mortgage lending.
The system has resulted in over 8 million real estate transactions, the licensing of over 86,000 brokers, and the approval of 75 digital platforms that house over 685,000 authorized listings, according to Tayseer Al-Mufarrej, general director of strategic communication and the authority’s official spokesperson.
Vision 2030 and the 2022 Real Estate Brokerage Law, which seeks to professionalize real estate transactions through standardized contracts, broker licensure, and more stringent monitoring to increase transparency and safeguard customers, are the driving forces behind the change.
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