Saudi Arabia’s housing sector is embarking on a major expansion through Saudi Vision 2030, which aims to enable families to own suitable and affordable accommodation.

Investment in the real estate financing sector was expected to reach $21.3 billion in 2019 and one of the key targets of the Saudi Ministry of Housing is to increase Saudi home ownership to 70% by 2030.

“Various initiatives are under way to achieve this objective, including the Sakani affordable housing programme and the various regulatory efforts to expand the mortgage market,” said Raya Majdalani, research manager of global real estate consultants Knight Frank.

The Sakani programme, begun in 2017 by the Ministry of Housing, aims to ensure housing for all.

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