Page 43 - Logic Consulting Report - September 2023

9/22/23, 10:09 AM The Saudi Ministry of Housing signs a Memorandum of Understanding with LOGIC Consulting - Techno fin
developers, coupled with formal agreements designed to effectively manage price fluctuations
within acceptable inflationary parameters. This strategic approach is geared towards sustaining

stability in real estate prices and augmenting the appeal of the real estate sector within the
Kingdom as a prime destination for investment.

The real estate sector in Saudi Arabia has witnessed extensive modernisation and advancement,
which has been steered by a series of programs and initiatives introduced by the country. These
measures had a transformative impact on the housing sector, which encompass the regulation of

the real estate market, expanded access to financing, simplified regulatory procedures, a
diversified range of housing options to meet diverse population needs and a substantial increase in

overall housing supply. These endeavours have laid the foundation for realising a pivotal goal of
Saudi Vision 2030, that is raising the rate of family homeownership to 70% by the year 2030.

Furthermore, these programs have yielded significant outcomes, effectively addressing demands
of the residential market in the Kingdom. They have also created a multitude of employment and

investment prospects and succeeded in drawing developers and private sector collaborators, all
working towards delivering housing solutions that cater to the diverse needs of individuals
throughout the Kingdom.

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