PwC Middle East identifies four key dimensions for the transformation of Saudi Arabia’s housing sector

PwC Middle East identifies four key dimensions for the transformation of Saudi Arabia’s housing sector

- Ongoing initiatives implemented by the government aim to reform the housing market and improve access to housing for Saudi families

- Real estate is a key to the KSA economy, contributing around 7% of GDP, and generating 40,000 job opportunities in 2021.

Riyadh – PwC Middle East today launched a new report titled, Transforming the Housing Sector in Saudi Arabia which provides insight on Saudi Arabia’s housing market reform programme. The report also identifies the major initiatives included in the programme and the two main key performance indicators targeted to ensure the programme’s successful implementation.

Saudi Arabia’s housing demand was at 99,600 houses in 2021 and is expected to increase by more than 50% to reach 153,000 houses by 2030. In 2017, more than 1.6 million Saudi nationals were on waiting lists for government housing programmes.

The Kingdom has since then developed the “Housing Program in 2018” with the objective of increasing access for Saudi families to affordable, quality, safe, and well-located housing reaffirming Saudi Arabia’s commitment to addressing challenges including population growth, rapid urbanisation, an insufficient supply of affordable housing, and an unregulated self-build market.

In recent years, the Ministry of Municipal and Rural Affairs and Housing (MoMRA) has worked closely with the