Impact and Alignment with Vision 2030
Highlighted in the Vision 2030, the Saudi government has set a target of increasing homeownership to 70% by 2030. To achieve this, they recently announced Riyadhโs New Affordable Housing Initiative, involving the private govt partnership. The release of new online platforms, and by easing the rules and regulations, affordable housing is now more accessible. Letโs see the Riyadh residential land initiative.
Riyadhโs New Affordable Housing Initiative
As stated above, the Affordable Housing Initiative of Riyadh is one of the significant components of Saudi Arabian Vision 2030 to increase the number of homeowners. The government is currently providing up to 40,000 Riyadh residential land plots annually within a period of five years, and prices are limited to a maximum of SAR 1,500 per square meter. This initiative is run by the Real Estate Balance Platform (Tawazoun) to ensure that Saudi nationals can purchase and construct residential properties in the capital city at a set and reduced cost. The main aim is to stabilize the real estate market, to curtail speculation and to sustain urbanization.
Saudi Citizen Housing Eligibility Requirements
To qualify for these plots, applicants must meet the following criteria:
- Saudi citizen
- Married or aged 25+
- No previous real estate ownership (even if inherited or gifted)
- At least three years of continuous Riyadh residency
- Only one application allowed per person
- Cannot use third parties or brokersโmust apply directly via Tawazoun
Registration does not guarantee allocation. All applications go into an electronic draw, and timing of submission does not affect selection.
Step-by-Step Guide to Applying for Saudi Housing Plots
Applying is simple and fully digital:
- Visit the Official Site: Go to tawazoun.rcrc.gov.sa.
- Sign in: Use the National Single Sign-On.
- Fill in the Application: Provide your personal details and answer the eligibility questionnaire.
- Accept the Declaration: Agree to the terms and conditions.
- Submit: Click โSubmit applicationโโa confirmation will appear if successful.
- Wait for Results: Eligible applications enter an electronic draw for final selection.
Applications are open until October 23, 2025. The process is completely onlineโno agents or walk-ins are allowed.
Ownership and Development Rules
The residential plots come with important conditions:
- Build a home within 10 years. Use the land to construct a residential property that will be your main residence.
- No selling, transferring, or mortgaging the land for 10 years, except for mortgaging to finance construction.
- If you fail to build, the government will recover the land and refund your payment.
These rules help ensure the land is used for housing, not speculation.
Benefits and Impact on Riyadhโs Real Estate Market
- Lower Prices: Fixed land prices help low- and middle-income families to own land and build homes at an affordable cost.
- Market Stability: Releasing 10,000โ40,000 plots annually helps to balance supply and demand which can stabilize and even reduce housing prices.
- Reduced Speculation: Restrictions on sales and development timelines prevent speculative buying and flipping.
- Transparency: All applications are digital, fair and open process.
- Supporting Vision 2030: This initiative supports Saudi Arabiaโs national goal to increase homeownership and reduce dependency on rented accommodation.
Conclusion
Riyadhโs Affordable Housing Initiative under Saudi Vision 2030 is a big step towards homeownership for Saudi citizens. Tawazoun platform makes it easy to apply for Riyadh residential land at affordable prices, with clear Saudi citizen housing rules and fair digital process. This will stabilize the market, reduce speculation and make homeownership for more families in the capitalโsupporting Saudi Arabiaโs urban development and Vision 2030 housing program
