Housing Minister Majed Al-Hogail Reviews Key Achievements And Future Plans At Budget Forum 2026

At the Budget Forum 2026, Minister of Municipalities and Housing Majed Al-Hogail discussed the sector's achievements in 2025 and future plans. He highlighted that over 1.2 million Saudi families have benefited from housing support programs. Since the program's inception, 920,000 families have moved into their homes, raising the homeownership rate to 65.4% by the end of 2024.

The minister outlined a goal to increase the homeownership rate to 66% by 2026, with plans to sign 100,000 new housing contracts. Housing finance in Saudi Arabia reached SAR938 billion by the third quarter of 2025. The ministry aims to continue issuing and expanding housing projects, providing 107,000 units and developed land in 2025, followed by an additional 80,000 units in 2026.

These initiatives are designed to boost real estate supply and achieve better price balance. Developmental housing programs have enabled over 50,000 families to own homes. Plans include offering 20,000 new rental units in 2026.

Al-Hogail emphasized improvements in urban landscapes with the addition of 2.5 million square meters of parks and green spaces in 2025. Urban planning regulations were updated, and 19 Saudi architectural styles were implemented across nine cities.

Sustainability initiatives and smart city solutions will continue to expand throughout 2026. These efforts aim to improve quality of life while supporting Vision 2030 goals.

Public-Private Partnerships

The minister affirmed that these initiatives encourage greater public-private partnerships in housing and infrastructure projects. This collaboration aims to enhance service efficiency and provide citizens with more diverse options.

Al-Hogail concluded by stating that these efforts contribute significantly to improving living standards for Saudi citizens.

With inputs from SPA