Saudi Arabia turning into a nation of homeowners, says expert

Saudi Arabia turning into a nation of homeowners, says expert

Saudi Arabia’s combination of huge investment and building-friendly planning laws makes it one of the most vibrant real estate and construction markets in the world, said a leading player in the kingdom's real estate sector.

"Saudi Arabia is embarking on a massive home-building journey with the goal that 70% of Saudis will own their own homes by 2030. This is made possible by the Saudi Government’s incredible support for the real estate sector," remarked David Grover, the CEO of Roshn Group, a leading Saudi real estate development company and a giga-project wholly owned by the kingdom’s Public Investment Fund (PIF).

He was addressing a gathering of industry leaders and top government officials from both Saudi Arabia and UK, at the UK-Saudi Business, Trade and Partnership Forum, in London.

"With the backing of Saudi PIF, Roshn plans to spend tens of billions of pounds to build integrated communities that will house over 2.2 million people by 2030, thus turning KSA into a nation of homeowners," he stated.

The Vision 2030 reforms have paved the way for a new generation of Saudis to become homeowners, he added.

In its 2022 report, 'Transforming the Housing Sector in Saudi Arabia,' PwC said the government’s policies and initiatives, including the