Page 49 - Logic Consulting Report - September 2023

9/22/23, 10:10 AM Saudi Ministry of Municipal, Rural Affairs and Housing signs Memorandum of understanding with LOGIC Consulting to uplift …
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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