At the fourth Real Estate Future Forum (RFF), which began in Riyadh on January 27, 12 development deals worth more than SAR 6 billion were signed.
The cooperative agreements are intended to boost the housing supply in different parts of the Kingdom and propel the real estate industry’s expansion.
The Ministry of Municipalities and Housing signed memorandums of understanding (MoUs) with several specialized businesses during the conference.
It is anticipated that the MoUs will strengthen collaboration between the public and private sectors in creating creative real estate ventures that support infrastructure development. This is in line with the Kingdom’s housing initiative, which aims to increase the number of people who own a home.
The Saudi Minister of Housing and Municipalities, Majid Al Hogail, declared plans to build 20,000 homes by 2025 at prices less SAR 450,000.
