Saudi Arabia approves partial land ownership for housing developments

Cabinet decision aims to boost real estate investment and expand housing projects

Last updated:
Khitam Al Amir, Chief News Editor
The new framework is expected to provide greater flexibility for real estate developers by allowing housing projects to be established under a partial ownership model, supporting the growth of integrated residential communities and broadening investment opportunities in the property market.
The new framework is expected to provide greater flexibility for real estate developers by allowing housing projects to be established under a partial ownership model, supporting the growth of integrated residential communities and broadening investment opportunities in the property market.
Supplied

Dubai: Saudi Arabia has approved a framework allowing investors to develop residential projects under a partial land ownership system, in a move aimed at stimulating investment in the housing sector and expanding home ownership opportunities.

The decision was approved during a Cabinet meeting in Jeddah on Tuesday, chaired by Crown Prince Mohammed bin Salman.

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The new framework is expected to provide greater flexibility for real estate developers by allowing housing projects to be established under a partial ownership model, supporting the growth of integrated residential communities and broadening investment opportunities in the property market.

The Cabinet said the measure forms part of the kingdom's efforts to modernise the real estate sector, encourage private sector participation and improve access to housing in line with the objectives of Saudi Vision 2030.

The government has yet to provide further details on the implementation timetable or eligibility criteria for the new ownership model.

Khitam Al Amir
Khitam Al AmirChief News Editor
With over 30 years of journalistic experience spanning from Jordan to the UAE, Khitam has spent the past 22 years reporting on national and regional news from Dubai, with a strong focus on the UAE, GCC and broader Arab affairs. As Chief News Editor, she brings extensive expertise in delivering breaking and engaging news to readers. Beginning her tenure as a translator, she advanced through roles as Senior Translator and Chief Translator before transitioning to editorial positions, culminating in her current leadership role. Her responsibilities encompass monitoring breaking news across the UAE and the broader Arab region, ensuring timely and accurate dissemination to the public.​ Born into a family of journalists, Khitam's passion for news was ignited early in life. A defining moment in her youth occurred in September 1985 when she had the opportunity to converse with the late British Prime Minister Margaret Thatcher during her visit to a Palestinian refugee camp north of Amman. During this encounter, Khitam shared her family's experiences of displacement from their home in Palestine and their subsequent refuge in Jordan. This poignant interaction not only deepened her understanding of geopolitical issues but also solidified her commitment to pursuing a career in journalism, aiming to shed light on the stories of those affected by regional conflicts. Khitam’s commitment to accurate and timely reporting drives her to seek out news that interests readers, making her a trusted source for news on the UAE and the broader Gulf region.
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