Housing-financing and subsidy schemes helped more than 122,000 families access housing support last year, with over 21,000 of them becoming homeowners through developmental housing pathways. Land product contracts numbered above 13,000; nearly 16,000 contracts were for self-construction; over 49,000 for ready and off-plan units combined.
Minister of Municipalities and Housing, Majed Al-Hogail, attributed the success to accessible financing, innovative housing options, and stronger partnerships with the private sector, while highlighting efforts to uphold sustainable urban development as per Vision 2030.
The report states that the home-ownership rate was about 47 per cent in 2016, pointing to considerable growth over the past eight years under the Housing Program. However, affordability remains under scrutiny even as spending on housing relative to household income slightly improved, showing signs of strain in markets and construction costs.
To meet the updated target of 70 per cent by 2030, policy-makers intend to deepen reforms in housing and land-use, expand financing schemes, deploy more ready-built units, and accelerate off-plan and self-construction options. Emerging challenges include maintaining the pace of growth amid inflationary pressures, ensuring supply keeps up with demand across regions, and managing cost escalations in materials and labour.
Urban communities development and technological enhancements are being used to streamline access to housing, reduce bureaucratic friction, and enhance citizen satisfaction. Over 80 per cent of citizens expressed satisfaction with the housing support in 2024, up from previous years, according to indicators in the report.
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