Saudi Gazette report

RIYADH — Minister of Municipalities and Housing Majed Al-Hogail said real estate prices in Riyadh are expected to moderate and align with citizens’ purchasing power.

He attributed this progress to the direct oversight of Crown Prince Mohammed bin Salman, whose directives are actively working to stabilize prices and accelerate housing development.

Speaking at a press confrence on Monday, Al-Hogail confirmed that new regulations on white land fees will be issued soon as part of broader sector reforms.

“The Crown Prince’s donation of SR1 billion to support eligible families in securing homes reflects the leadership’s commitment to ensuring dignified living,” he said, adding that the donation is in addition to ongoing and upcoming projects.

Al-Hogail revealed that between 60,000 and 70,000 new housing units will be introduced in Riyadh to meet demand, with additional units planned across other regions. In Riyadh, prices will start at SR250,000 after subsidies.

“We ensure that our activities focus on two key priorities: localization and job creation,” he added.

The minister emphasized the transformation of Saudi cities into balanced and sustainable urban environments. “We’ve worked to redefine the city as a space that meets the aspirations of residents and ranks among global standards,” he said.

He noted that over six Saudi cities have been officially classified as smart cities, and efforts are underway to increase public space access for residents within an 800-meter radius by 61% before the end of the year.

The ministry has activated a city monitoring center to track service delivery, reduced license issuance times to under 48 hours, and achieved a report closure rate of more than 94%.