Saudi Arabia Expands Homeownership Eligibility in Government Housing Projects

A project by the Saudi Ministry of Rural Affairs and Housing. (Asharq Al-Awsat)
A project by the Saudi Ministry of Rural Affairs and Housing. (Asharq Al-Awsat)
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Saudi Arabia Expands Homeownership Eligibility in Government Housing Projects

A project by the Saudi Ministry of Rural Affairs and Housing. (Asharq Al-Awsat)
A project by the Saudi Ministry of Rural Affairs and Housing. (Asharq Al-Awsat)

Saudi Arabia’s Cabinet has approved a new decision allowing the Ministry of Municipal and Rural Affairs and Housing to sell residential units within its housing projects to individuals who are not beneficiaries of government housing support. Real estate experts view the move as a strategic shift that boosts the flexibility of public asset management and maximizes the use of available housing stock.

The decision is expected to boost supply, improve market balance, and promote sustainability in the housing sector.

According to Abdulrahman Al-Tawil, Deputy Minister for Residential Supply Stimulus and Real Estate Development, the decision aims to broaden access to homeownership by including new population segments. Families and individuals who do not qualify for housing support will now be able to purchase units or relocate between homes in new suburban developments overseen by the ministry.

Single individuals and those who previously received loans from the Real Estate Development Fund will be eligible to buy homes in projects launched within the past two years. However, non-beneficiaries will purchase units at market rates, while support recipients will continue to receive financial assistance.

Al-Tawil emphasized that each project will initially offer a four-month window of exclusive sales to support beneficiaries before opening to the wider public.

The move is also designed to align housing supply with urban demand. Al-Tawil cited over 100,000 housing units currently available in Riyadh, offering a range of ownership options that address diverse needs.

Real estate appraiser Eng. Ahmed Al-Faqih believes the decision will have a significant impact on the market by strengthening housing supply and supporting price stability.

The entry of the National Housing Company into the private market adds a new, competitive dynamic that developers must consider when pricing their products, he told Asharq Al-Awsat.

This competition, he said, will not only influence pricing but also encourage developers to prioritize quality—an essential goal of Saudi Arabia’s Vision 2030.

Real estate expert Saqr Al-Zahrani also praised the decision. Speaking to Asharq Al-Awsat, he said it addresses the issue of unsold inventory and offers homeownership opportunities to underserved citizens. He highlighted its potential to generate non-oil revenue and support long-term project sustainability without compromising the priority status of current beneficiaries.

Expanding ownership eligibility could help close gaps in the real estate market, especially in cities where ownership remains low, he added, while expecting the decision to encourage innovation in housing development and financing, further stimulating competition between public and private sectors.

On the issue of housing inflation, Al-Zahrani noted that increasing actual supply will reduce speculative activity and promote more disciplined pricing. This is especially critical for middle-income buyers who face volatility in the current market.

Effective implementation of the policy, supported by clear regulations and transparency, will be vital to achieving its intended outcomes, he remarked.



Saudi PIF Backs Multibillion-Dollar Projects to Boost Sustainability

A solar power project in Saudi Arabia (SPA)
A solar power project in Saudi Arabia (SPA)
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Saudi PIF Backs Multibillion-Dollar Projects to Boost Sustainability

A solar power project in Saudi Arabia (SPA)
A solar power project in Saudi Arabia (SPA)

Saudi Arabia’s Public Investment Fund has fully allocated the proceeds of its green bond issuance, directing $9 billion to eligible projects, in a move that highlights the sovereign wealth fund’s growing role in shaping a more sustainable future and delivering lasting positive impact worldwide.

According to a recent report issued by the Public Investment Fund, reviewed by Asharq Al-Awsat, the expected impact of the fund’s eligible green projects includes generating 427 megawatts of renewable energy, avoiding emissions equivalent to 5.1 million tons of carbon dioxide, and treating 4 million cubic meters of wastewater.

The Public Investment Fund aims to establish itself as an active participant in global debt markets, while also fostering the development of a dynamic domestic market. This would enable the fund to access short- or long-term liquidity through a diverse range of financing instruments.

Financing strategy

The fund’s capital markets program aims to further strengthen its financing strategy and execution capabilities, both at the level of the Saudi sovereign wealth fund and across its portfolio companies, while enabling deeper engagement with global and local debt markets.

The program will also support expanding the fund’s capacity to raise debt and deploy it as a source of investment financing, in line with its overall funding strategy. This approach is designed to instill greater discipline in cash flow management and enhance returns on equity for the fund and its portfolio companies.

The green bond issuance will provide the fund with access to a broader pool of investors who prioritize environmental, social, and governance considerations in their investment decisions. It will also allow investors to diversify their portfolios through green assets, a step expected to help accelerate the pace of green investment globally.

Climate change

The fund has taken concrete steps to advance governance and policy, focusing on sustainability, and is a founding member of the One Planet Sovereign Wealth Funds initiative. This international platform aims to accelerate the integration of climate change considerations into asset management decisions and investment opportunities.

As an investment vehicle, the Public Investment Fund operates through acquiring stakes in companies aligned with its mandate, including ACWA Power and Lucid.

It has also established the Saudi Investment Recycling Company, a leader in waste management and recycling, manages the National Energy Services Company, Tarshid, and supports the creation of a voluntary carbon market in the Middle East and North Africa.

These efforts aim to strengthen Saudi Arabia’s position as one of the world’s most energy-efficient countries.

The green bond issuance will finance tangible projects on the ground, helping to accelerate the green transition and advance the Kingdom’s core targets of achieving net zero emissions by 2060 and generating 50 percent of electricity consumption from renewable energy sources by 2030.

This forms a key pillar of the renewable energy program implemented by the fund, which involves developing 70 percent of renewable power generation capacity.


Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)
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Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)

E-commerce sales in Saudi Arabia via "mada" cards soared to an all-time monthly high in October 2025, surpassing SAR30.7 billion.

The surge in sales represents a 68% year-on-year increase, totaling about SAR12.4 billion more than the SAR18.3 billion recorded in October 2024, according to the Saudi Central Bank (SAMA) statistical bulletin on Wednesday.

E-commerce sales for the third quarter (Q3) of 2025 hit SAR88.3 billion, up 15.2% from the previous quarter, representing an increase of about SAR11.6 billion over the SAR76.6 billion recorded in Q2.

On a monthly basis, e-commerce sales in October rose 6%, gaining approximately SAR1.6 billion over September’s total of SAR29.1 billion.

From January to October, "mada" data showed e-commerce sales grew 47.3%, rising by around SAR9.9 billion over the SAR20.9 billion recorded in January.

These figures cover transactions made via "mada" cards on e-commerce websites, apps, and digital wallets, and do not include credit-card payments.


Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
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Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)

Jeddah's King Abdulaziz International Airport (KAIA) celebrated the launch of its first direct flynas flight to Moscow, operating three weekly flights between Jeddah and Vnukovo International Airport.

This initiative, in partnership with the Saudi Tourism Authority and the Air Connectivity Program, boosts air links between Saudi Arabia and Russia.

It marks KAIA's third direct Russian destination, following Makhachkala and Mineralnye Vody, which were inaugurated earlier this month by Azimuth Airlines.

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location.