Al-Haqil announces that citizen homeownership has risen to 66.2% – details of the achievement
His Excellency the Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al-Hogail, announced a new national achievement, which is the increase in the percentage of citizens owning homes to reach 66.2% by the end of 2025. Al-Hogail explained that this figure reflects the success of the strategic plans adopted by the Housing Program , one of the programs of the Kingdom’s Vision 2030, which has directly contributed to providing diverse housing and financing solutions to more than one million beneficiaries, which confirms the integration of efforts between the housing system, financing entities and the private sector.
Cabinet praise and leadership support
Minister Al-Haqil expressed his deepest gratitude and appreciation to the Custodian of the Two Holy Mosques and His Royal Highness the Crown Prince, may God protect them, and to the esteemed Council of Ministers, for the praise and recognition bestowed upon the housing program. He affirmed that this unwavering support from the wise leadership embodies the utmost priority the state places on the housing sector, recognizing it as a fundamental pillar for achieving family and social stability, and a key driver of comprehensive development in the Kingdom. He noted that the Council of Ministers' appreciation serves as a powerful incentive for all those working within the system to continue their diligent efforts to achieve even greater accomplishments.
Context of the transformation in the housing sector (Vision 2030)
These figures represent the culmination of a transformation that began with the launch of Vision 2030. Prior to 2016, homeownership rates were significantly lower, and the sector faced challenges related to limited supply and financing difficulties. The Ministry, through its various programs such as "Sakani," "Wafi," and the Real Estate Development Fund, worked to completely restructure the sector. These efforts included streamlining mortgage financing procedures, introducing thousands of diverse housing units across the Kingdom, and strengthening partnerships with real estate developers to ensure a sustainable housing supply that aligns with citizens' purchasing power.
Economic and social impact
The importance of achieving a 66.2% homeownership rate extends beyond mere homeownership; it encompasses a broad economic and social impact. Economically, construction, building, and real estate financing activities have contributed to increasing the non-oil sector's contribution to GDP and have created thousands of job opportunities for young Saudis in engineering, contracting, and real estate appraisal. Socially, providing suitable housing directly contributes to improving quality of life , a key objective of Vision 2030. The current focus is not only on building housing units but also on developing integrated residential communities with comprehensive services and amenities that ensure an ideal living environment for Saudi families.
The future of the sector and the sustainability of solutions
Al-Haqil concluded his statement by emphasizing the Ministry's continued commitment to developing housing solutions and diversifying financing and regulatory options. Future plans aim to exceed current targets and achieve a 70% homeownership rate by 2030, focusing on the sustainability of the housing sector and enhancing the efficiency of the real estate market. This will meet the aspirations of citizens across the Kingdom and keep pace with the comprehensive urban development the country is witnessing.
