Saudi Arabia sees 300,000 residential units by 2025-end: Official

Saudi Arabia is expected to see the construction of 300,000 residential units by the end of 2025, Abdulrahman Altawil, Abdulrahman Altawil, Deputy Minister, Developmental Housing, Municipal and Rural Affairs and Housing told Asharq News TV.

The Kingdom seeks to raise the number of residential units offered in the market through its affiliates and the private sector. More than 150,000 residential units are being built in the ministry’s projects.

The ministry completed about 50,000 residential units, Altawil added on the sidelines of the Saudi Egyptian Real Estate Conference, held in Riyadh, expecting the supply of 80,000-90,000 residential units in the market next year.

He added that the value of investment in infrastructure, the construction of units and services in the Saudi housing sector surpasses SAR 200 billion, expecting higher investments in the future.

Riyadh is witnessing a unique real estate momentum, especially with the development of more than 50 million meters of projects, such as Al-Fursan and New Murabba.

Source: Argaam