Business · Economy · 20 hrs ago
Riyadh Land Development Could Expand Housing Supply and Ease Price Pressure
About 71 million square metres of land in Riyadh are moving toward development or sale, according to Saudi Ministry of Municipalities and Housing data.
Around 29 million square metres have been developed, 20 million are available for trading and 21 million are still being developed.
Fees on undeveloped land have also helped support 27 development and urban projects in the Riyadh region.
Economists say turning unused land into homes and other projects could increase supply, create business and jobs, and encourage competition among developers.
Any effect on prices is expected to be gradual and uneven, depending on project completion, infrastructure, building and financing costs, and buyer demand.
The key test is whether the land becomes completed homes people can afford, while infrastructure and services keep pace with expansion.
About 71 million square metres of white land in the Riyadh region are moving through development and trading, experts say.
The process could increase real estate supply, stimulate investment and competition, and gradually ease price pressure.
Ministry of Municipalities and Housing data show about 29 million square metres have been developed, 20 million have entered trading, and 21 million are under development.
Experts say the effect on prices will depend on completed projects, construction speed, infrastructure, costs and purchasing power.
- Who
- Economic and real estate experts, alongside the Ministry of Municipalities and Housing.
- What
- About 71 million square metres of white land in the Riyadh region are entering development and trading, potentially increasing property supply and easing price pressure.
- When
- Not stated
- Where
- The Riyadh region, Saudi Arabia.
- Why
- To put unused land into productive use, attract investment and increase housing and real estate supply.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Land moving through development and trading
- About 71 million square metres
- Developed land
- About 29 million square metres
- Land entered into trading
- 20 million square metres
- Land under development
- 21 million square metres
- Development projects supported by white-land fees
- 27 projects in the Riyadh region
What people are saying
The effect on prices will not be immediate or equal across neighbourhoods.
Increasing planned and serviced land is an important factor in supporting economic growth.
The real measure of success in this phase is not the size of land entering development or the number of permits issued.
The rising cost of holding undeveloped land reduces the economic case for keeping it idle.