The value of housing projects executed in partnership with the private sector in Saudi Arabia has exceeded 400 billion Saudi riyals ($106 billion), underscoring the sector’s growing role in supporting national development, stimulating economic activity, and ensuring sustainable urban growth.

Speaking at a meeting with the private sector at the Federation of Saudi Chambers in Riyadh this week, Minister of Municipalities and Rural Affairs and Housing Majid Al-Hogail highlighted the momentum of joint initiatives involving both private firms and civil society organizations.

Additionally, he said that more than 14,000 investment opportunities through the Forsah platform have contributed to advancing multiple national targets under Vision 2030.

Hogail also underlined the real estate sector’s importance as a driver of the national economy, now accounting for about 13.5 percent of Saudi Arabia’s GDP. 

(Writing by N Saeed; Editing by Sona Nambiar)

(anoop.menon@lseg.com)

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