Saudi Household Ownership Rate Surpasses 2025 Target
Saudi Arabia has achieved a major milestone in its housing sector, with the household ownership rate reaching 65.4 percent by the end of 2024—surpassing the 2025 target of 65 percent set under the Kingdom’s Vision 2030.
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According to the Housing Program Annual Report 2024, titled “From Decision to Stability”, this achievement reflects the success of comprehensive housing and financing initiatives carried out in partnership with government entities, private sector stakeholders, and financial institutions.
Expanding Housing Opportunities
The report highlighted that in 2024 alone:
- 122,000 families benefited from housing support.
- Over 21,000 eligible families secured homes through development housing programs.
- More than 13,000 contracts were signed for land products affiliated with the Ministry of Municipalities and Housing.
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- Around 16,000 contracts were finalized for self-construction.
- Over 49,000 contracts covered ready-built units.
- More than 27,000 contracts were signed for off-plan sales.
These figures underscore the scale and diversity of the Kingdom’s housing initiatives, designed to serve different segments of Saudi society.
Boosting the Economy and Vision 2030 Goals
The Housing Program, one of the central initiatives of Saudi Vision 2030, has played a key role in driving non-oil GDP growth, attracting private investment, and creating job opportunities. By enabling families to access affordable and suitable housing, the program has strengthened social stability while contributing to economic diversification.
The report also emphasized that the program’s strategy successfully navigated global economic challenges by launching innovative housing solutions and development projects, while expanding public-private partnerships.
Commitment from Leadership
The progress reflects the Kingdom’s leadership’s unwavering support for citizens’ well-being. The Housing Program aims to continue expanding solutions to make home ownership more accessible and sustainable, with the ultimate Vision 2030 goal of raising home ownership to 70 percent.
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