Al-Hoqail: 46 billion riyals in housing financing… and the start of foreign ownership in January
The Minister of Municipalities and Housing, Majed Al-Hogail, said today, Wednesday, that The financial market pumped about 46.6 billion riyals into housing programs, in cooperation between the Ministry of Finance and the Central Bank.
Al-Hogail explained in a dialogue session on the sidelines of the Saudi Budget Forum 2026 that by the end of the current year, the housing system will have served more than 1.2 million beneficiaries of housing programs, and 920,000 families have lived in their homes.
The Minister of Housing added that the current year witnessed the establishment of more than 90,000 beneficiaries. By signing contracts in housing investments, explaining that the construction-rent programs affiliated with Tawazun Real Estate witnessed the signing of more than 20 thousand contracts.
Al-Hogail indicated that the ministry will continue to pump more than 60 thousand units into these programs, and next year it will pump more than 100 thousand housing units into off-plan sales programs.
With regard to Foreign investment In the sector, Al-Hogail said that the real estate sector accounted for 13.8% of foreign flows during the year 2024.
Al-Hogail confirmed that the law on foreign ownership of real estate in Saudi Arabia will enter into force next January, indicating that implementation at the residential level will include all Saudi regions, except for four cities (Riyadh, Jeddah, Makkah Al-Mukarramah, and Medina) in which specific areas will be specified in which foreigners from outside the Kingdom will be allowed. By ownership.
On the technical level, the Minister of Municipalities and Housing Work is underway to build 30% of operations through artificial intelligence, indicating that the coding of real estate assets enhances the position of the real estate sector, in light of the attractive technological and legislative environment.
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