Speaking at the opening of the fifth edition of the Real Estate Future Forum 2026 in Riyadh on Monday, Al-Hogail said that the capital already has more than 100 million square meters of land developed and ready to build.
The forum brought together decision-makers, experts and investors from more than 140 countries, with around 300 speakers from government, business and the public and private sectors, highlighting the growing global prominence of Saudi Arabia’s real estate industry.
Al-Hogail highlighted that the Kingdom has adopted “real estate balance” as a strategic policy aimed at improving efficiency and equity in the sector through precise regulatory tools and informed analysis of market dynamics.
He highlighted a historic rise in mortgage financing, which rose from SAR82 billion in 2017 to almost SAR900 billion (around $240 billion) in 2025, making real estate financing an important pillar of the national economy, accounting for about 27 percent of Saudi banks’ total loan portfolios.
Home ownership
On homeownership, Al-Hogail said the rate of Saudi citizens owning homes exceeded 66 percent in 2025, with more than one million beneficiaries of government housing support programs. It outlined ambitious goals to support an additional 367,000 beneficiaries and raise the homeownership rate to 70 percent by 2030.
Riyadh has more than 100 million square meters of developed land ready for use and is expected to receive more than 300,000 new homes in three years, he continued.
He also highlighted the role of the National Housing Company, the largest real estate developer in the region, which has delivered around 300,000 housing units in 16 cities and plans to add another 300,000 units in the next phase.
This growth, he stated, reflects the maturity of the market and the growing confidence among investors and citizens alike.
Real estate investment
Saudi Investment Minister Khalid Al-Falih described the real estate sector as a safe haven for economic stability amid global geoeconomic uncertainty and volatile markets.
The real estate and construction sector forms a “solid foundation” for national growth, contributing around 13 percent of Saudi Arabia’s GDP, he stressed. This momentum is supported by large-scale investments led by the Public Investment Fund (PIF), which has exceeded $400 billion since the launch of Vision 2030.
Tourism projects and urban transformation
Saudi Tourism Minister Ahmed Al Khateeb said the Kingdom is now “leading the global charge” in urban development and the creation of major tourist destinations.
Saudi Vision 2030 has transformed the city’s design concept from simply serving local residents to also welcoming visitors and meeting their needs, he said.
He cited megaprojects such as NEOM, the Red Sea project and Diriyah as examples of this transformation, arguing that the Kingdom’s ability to develop previously virgin regions, such as Tabuk and the Red Sea islands, gives it a unique advantage in delivering architectural and technological models that inspire the world.
Quality of life
Al Khateeb also highlighted the launch of the Global Quality of Living Index, developed in partnership with UN-Habitat. The index is the first of its kind to measure quality of life based on comprehensive criteria, including essential infrastructure and services.
Instead of evaluating happiness or education in isolation, it evaluates the overall ecosystem of services that are important to residents and visitors, focusing on accessibility, affordability and quality.
Al Khateeb highlighted the importance of sustainability in the economy, employment and environment, describing it as the most critical component of quality of life and a core responsibility embedded in national visions.
Tourism has been a key factor in reducing unemployment in Saudi Arabia to historic lows comparable to OECD and G20 countries, and the sector has created 250,000 new jobs for Saudis since the launch of the national tourism strategy in 2019, he added.
Alliances and agreements
Abdullah Al-Hammad, chief executive of the General Real Estate Authority, said the sector has become an influential player in the global economy.
He noted that the forum coincides with the implementation of regulations allowing non-Saudis to own real estate, opening up unprecedented global opportunities for the Saudi market and showcasing the geographical diversity and cultural depth of the Kingdom.
Al-Hammad added that previous editions of the forum resulted in deals and partnerships worth more than $50 billion (SAR187.5 billion), describing the figure as clear evidence that discussions at the forum are being transformed into concrete decisions, investments and projects on the ground.