According to a recent estimate, the proportion of Saudi households with a home by the end of 2023 was 63.74 percent, up 16.7 percent from 2016.
One of the projects of the Kingdom’s Vision 2030 is the Housing Program, which showed that the percentage of Saudi families with a home had surpassed the 63 percent annual target.
According to the results, which are detailed in the organization’s annual report, the Kingdom is on track to achieve its 2030 target of 70% house ownership.
The program helped over 20,000 families through developmental housing tracks last year, and it benefited over 96,000 families that qualified for housing support.
According to the program, the Ministry of Municipal, Rural Affairs, and Housing signed more than 26,000 contracts for land development, with 11,000 of those agreements being inked in the fourth quarter of 2023 to provide cheap housing and increase the number of Saudis who can own a home.
The Saudi Press Agency stated that 10,904 contracts had been signed for the off-plan sales product. “The program approved the completion of over 800 plans, issued more than 3,000 building permits, and provided 10,000 housing units for developmental housing beneficiaries,” the agency said.
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