Al-Hogail: SAR 200B poured into housing with private sector partnership

Majid Al-Hogail, Minister of Municipalities and Housing

The Saudi housing sector attracted more than SAR 200 billion investments in partnership with the private sector, Minister of Municipalities and Housing Majid Al-Hogail stated.

Addressing a panel session at the 2025 PIF and Private Sector Forum, Al-Hogail said investments in the local municipal sector exceeded SAR 19 billion, highlighting that the municipal and housing sector now accounts for over 16% of the Kingdom’s real GDP in 2024.

The minister added that over 16% of foreign investment inflows into Saudi Arabia are directed towards the real estate, construction, and building sectors.

He pointed out that the Kingdom’s real estate financing portfolio has advanced to more than SAR 850 billion, from SAR 165 billion.

The National Housing Co. (NHC) injected investments exceeding SAR 140 billion to develop residential suburbs in Saudi Arabia, in partnership with 65 real estate developers.

Current municipal projects, valued at over SAR 24 billion, are being developed with increased private sector involvement.

Al-Hogail emphasized that the local development pace has accelerated significantly, highlighting that Saudi Arabia's investment environment stands strong for both local and foreign private sectors, offering substantial growth and development opportunities to achieve set targets.

Regulatory and legislative frameworks have been enhanced through intercity planning, with three domestic plans completed last year.

In 2025, the ministry aims to finalize over 33 local plans, while also adapting to the economic and social changes to create more sustainable, investment-attractive cities.